Zhong An Real Estate : Interim Results Announcement for the Six-month Period Ended 30 June 2016

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ZHONG AN REAL ESTATE LIMITED

眾安房產有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 672) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2016 FINANCIAL HIGHLIGHTS Unaudited For the six-month period ended 30 June 2016

(RMB'

million)

2015

(RMB'

million)

Percentage

of increase

Revenue

1,889.7

832.2

127.1%

Profit for the period

34.5

1.1

3,036.4%

Profit/(loss) attributable to owners of the parent

Earnings per share attributable to ordinary equity holders of the parent (RMB) 24.1

(15.0)

1 cent

(1) cent

The board (the "Board") of directors (the "Directors") of Zhong An Real Estate Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (together, the "Group") for the six-month period ended 30 June 2016 (the "period under review") together with the comparative amounts for the corresponding period in 2015.

INTERIM CONSOLIDATED INCOME STATEMENT	For the six-month
Notes	period ended 30 June 2016 2015 RMB'000 RMB'000 (Unaudited) (Unaudited)
Revenue	4	1,889,749 832,151
Cost of sales	(1,612,858) (669,489)
Gross profit	276,891 162,662
Other income and gains	4	21,450 114,658
Selling and distribution costs	(83,847) (64,041)
Administrative expenses	(152,071) (139,663)
Other expenses	(3,509) (1,657)
Changes in fair value of investment properties	16,057 26,978
Finance costs	(12,370) (22,706)
Share of losses of joint ventures	(3) (1,147)
Profit before tax	5	62,598 75,084
Income tax expenses	6	(28,105) (73,976)
Profit for the period	34,493 1,108
Attributable to: Owners of the parent	24,124 (15,043)
Non-controlling interests	10,369 16,151
34,493 1,108
Earnings per share attributable to owners of the parent (RMB)	7
Basic	1 cent (1) cent
Diluted	1 cent (1) cent

INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six-month period ended 30 June 2016 2015

RMB'000 RMB'000

(Unaudited) (Unaudited) Profit for the period 34,493 1,108

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

Exchange differences on translation of the

profit or loss in subsequent periods	8,932	(18,457)
Total comprehensive income/(loss) for the period	43,425	(17,349)
Attributable to: Owners of the parent	33,056	(33,500)
Non-controlling interests	10,369	16,151
43,425	(17,349)

financial statements of foreign subsidiaries 8,932 (18,457) Net other comprehensive income/(loss) to be reclassified to

INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Notes	30 June 2016 RMB'000 (Unaudited)	31 December 2015 RMB'000 (Audited)
NON-CURRENT ASSETS Property and equipment	173,076	182,711
Investment properties	5,279,000	5,244,100
Properties under development	4,550,708	4,588,912
Available-for-sale investments	28,300	3,300
Investments in joint ventures	771	774
Long term prepayments	515,754	359,321
Restricted cash	117,050	90,100
Deferred tax assets	164,964	184,258
Total non-current assets	10,829,623	10,653,476
CURRENT ASSETS Completed properties held for sale	7,518,136	4,506,299
Properties under development	1,564,143	4,661,802
Inventories	11,406	10,628
Trade and bills receivables	8	92,961	72,198
Prepayments, deposits and other receivables	598,888	537,972
Equity investment at fair value through profit or loss	493	558
Restricted cash	362,780	162,216
Cash and cash equivalents	919,927	1,454,458
Investment property classified as held for sale	19,500	29,800
Total current assets	11,088,234	11,435,931
CURRENT LIABILITIES Trade payables	9	2,009,301	2,320,479
Other payables and accruals	662,335	782,531
Advances from customers	3,848,587	3,569,147
Interest-bearing bank and other borrowings	2,193,160	2,213,181
Tax payable	651,003	677,684
Total current liabilities	9,364,386	9,563,022
NET CURRENT ASSETS	1,723,848	1,872,909
TOTAL ASSETS LESS CURRENT LIABILITIES	12,553,471	12,526,385