Zhong An Real Estate : Announcement of Results for the Year Ended 31 December 2016

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眾安房產有限公司

ZHONG AN REAL ESTATE LIMITED

(incorporated in the Cayman Islands with limited liability)

(Stock code: 672) ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTS For the year ended 31 December

Increase/

2016	2015	(Decrease)
Revenue (RMB million)	5,007.1	2,883.1	73.7%
Profit attributable to owners of the parent (RMB million)	125.3	420.6	(70.2%)
Basic earnings per share (RMB)	0.05	0.18	(72.2%)

The board of directors (the "Board") of Zhong An Real Estate Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 December 2016 together with the comparative amounts for the previous year. The annual results have been reviewed by the audit committee of the Company:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Year ended 31 December 2016

Notes	2016 RMB'000	2015 RMB'000
Revenue	4	5,007,148	2,883,146
Cost of sales	(4,382,170)	(2,426,128)
Gross profit	624,978	457,018
Other income and gains	4	30,193	276,344
Selling and distribution expenses	(187,495)	(208,848)
Administrative expenses	(311,611)	(299,769)
Other expenses	(19,029)	(5,616)
Fair value gain upon transfer to investment properties	-	796,581
Changes in fair value of investment properties	123,908	29,361
Finance costs	5	(11,717)	(34,269)
Share of loss of joint ventures	(15)	(2,208)
Profit before tax	6	249,212	1,008,594
Income tax expense	7	(88,250)	(415,292)
Profit for the year	160,962	593,302
Attributable to: Owners of the parent	125,272	420,608
Non-controlling interests	35,690	172,694
160,962	593,302

Earnings per share attributable to ordinary equity holders of the parent 8

Basic RMB5 cents RMB18 cents

Diluted RMB5 cents RMB18 cents

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 December 2016

2016 2015

RMB'000 RMB'000

Profit for the year 160,962 593,302 Other comprehensive income

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

Exchange differences on translation of foreign operations	4,070	(12,933)
Net other comprehensive income to be reclassified to profit or loss in subsequent periods	4,070	(12,933)
Total comprehensive income for the year	165,032	580,369
Attributable to: Owners of the parent	131,540	407,675
Non-controlling interests	33,492	172,694

165,032 580,369 CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 December 2016

Notes	2016 RMB'000	2015 RMB'000
Non-current assets Property and equipment	1,362,070	182,711
Investment properties	5,129,937	5,244,100
Properties under development	2,285,929	4,588,912
Restricted cash	141,351	90,100
Available-for-sale investments	28,300	3,300
Long term prepayments	409,958	359,321
Investment in joint ventures	759	774
Loans and receivables from a joint venture	173,246	-
Deferred tax assets	168,779	184,258
Total non-current assets	9,700,329	10,653,476
Current assets Completed properties held for sale	5,506,562	4,506,299
Properties under development	2,931,314	4,661,802
Inventories	16,158	10,628
Trade and bills receivables	9	78,321	72,198
Prepayments, deposits and other receivables	479,164	537,972
Equity investments at fair value through profit or loss	491	558
Restricted cash	354,138	162,216
Cash and cash equivalents	946,651	1,454,458
Investment properties classified as held for sale	257,313	29,800
Total current assets	10,570,112	11,435,931
Current liabilities Trade payables	10	1,938,978	2,320,479
Other payables and accruals	603,226	782,531
Advances from customers	3,051,080	3,569,147
Interest-bearing bank and other borrowings	2,131,739	2,213,181
Tax payable	668,900	677,684
Total current liabilities	8,393,923	9,563,022
Net current assets	2,176,189	1,872,909
Total assets less current liabilities	11,876,518	12,526,385