Zhong An Real Estate : Announcements and Notices - Announcement of Results for the Year Ended 31 December 2015

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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 2015

FINANCIAL HIGHLIGHTS

For the year ended 31 December

Percentage of

2015	2014	increase
Revenue (RMB million)	2,883.1	1,550.1	86.0
Profit attributable to owners of the parent (RMB million)	420.6	319.7	31.6
Basic earnings per share (RMB)	0.18	0.14	28.6

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 2015 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	Notes	2015	2014
RMB'000	RMB'000
Revenue	5	2,883,146	1,550,105
Cost of sales	(2,426,128)	(1,159,561)
Gross profit	457,018	390,544
Other income and gains	5	276,344	43,567
Selling and distribution expenses	(208,848)	(135,519)
Administrative expenses	(299,769)	(304,073)
Other expenses	(5,616)	(7,022)
Fair value gain upon transfer to investment properties	796,581	656,784
Changes in fair value of investment properties	29,361	33,200
Finance costs Share of profits and losses of: Joint ventures	6	(34,269) (2,208)	(37,809) (259)
Profit before tax	7	1,008,594	639,413
Income tax expense	8	(415,292)	(237,657)
Profit for the year	593,302	401,756
Attributable to: Owners of the parent	420,608	319,725
Non-controlling interests	172,694	82,031
593,302	401,756
Earnings per share attributable to ordinary equity holders of the parent (RMB)	10
Basic	18 cents	14 cents
Diluted	18 cents	14 cents

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

2015 2014

RMB'000 RMB'000

Profit for the year 593,302 401,756

Other comprehensive income

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

Exchange differences on translation of the financial

to profit or loss in subsequent periods	(12,933)	3,980
Total comprehensive income for the year	580,369	405,736
Attributable to: Owners of the parent	407,675	323,705
Non-controlling interests	172,694	82,031
580,369	405,736

statements of foreign subsidiaries (12,933) 3,980 Net other comprehensive income to be reclassified

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Notes	2015 RMB'000	2014 RMB'000
NON-CURRENT ASSETS Property and equipment	182,711	188,068
Investment properties	5,244,100	3,773,200
Properties under development	4,588,912	8,444,787
Goodwill	-	-
Available-for-sale investments	3,300	3,300
Long term prepayments	359,321	80,712
Investments in joint ventures	774	46,228
Loans and receivables from a joint venture	-	390,931
Deferred tax assets	184,258	201,926
Restricted cash	90,100	-
Total non-current assets	10,653,476	13,129,152
CURRENT ASSETS Completed properties held for sale	4,506,299	4,339,181
Properties under development	4,661,802	1,181,754
Inventories	10,628	9,608
Trade and bills receivables	11	72,198	16,954
Prepayments, deposits and other receivables	537,972	433,045
Equity investments at fair value through
profit or loss	558	815
Loans and receivables from a joint venture	-	29,769
Restricted cash	162,216	620,123
Cash and cash equivalents	1,454,458	969,306
11,406,131	7,600,555
Investment property classified as held for sale	29,800	31,000
Total current assets	11,435,931	7,631,555
CURRENT LIABILITIES Trade payables	12	2,320,479	1,784,709
Other payables and accruals	782,531	507,943
Advances from customers	3,569,147	3,124,840
Interest-bearing bank and other borrowings	2,213,181	2,045,636
Tax payable	677,684	619,909
Total current liabilities	9,563,022	8,083,037
NET CURRENT (LIABILITIES)/ASSETS	1,872,909	(451,482)
TOTAL ASSETS LESS CURRENT LIABILITIES	12,526,385	12,677,670