AVICHINA INDUSTRY & TECHNOLOGY COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
中國航空科技工業股份有限公司 AviChina Industry & Technology Company Limited*(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 2357)
2016 Interim Results Announcement; Proposed Change of Supervisor; and Change of Company Secretary, Authorised Representative, Non-executive Director and Senior Manage ment Financial HighlightsFor the six months ended 30 June 2016, the Group achieved a revenue of RMB15,391 million, representing an increase of RMB250 million or 1.65% as compared with that of RMB15,141 million in the corresponding period of last year.
For the six months ended 30 June 2016, the profit attributable to equity holders of the Company amounted to RMB504 million, representing an increase of RMB32 million or 6.78% as compared with that of RMB472 million in the corresponding period of last year.
The board of directors (the "Board") of AviChina Industry & Technology Company Limited (the "Company") announces the unaudited interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2016 prepared according to International Accounting Standards as follows:
1
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSSNotes | For the six months ended 30 June | ||||
2016 | 2015 | ||||
RMB'000 | RMB'000 | ||||
(Unaudited) | (Unaudited) | ||||
(Restated) | |||||
REVENUE | 5 | 15,391,169 | 15,141,481 | ||
Cost of sales | (12,512,079) | (12,279,824) | |||
Gross profit | 2,879,090 | 2,861,657 | |||
Other income and gains | 5 | 121,356 | 144,014 | ||
Other expenses | (59,435) | (29,555) | |||
Other income and gains, net | 61,921 | 114,459 | |||
Selling and distribution expenses | (252,207) | (217,064) | |||
Administrative expenses | (1,457,851) | (1,694,265) | |||
OPERATI NG PROFIT | 1,230,953 | 1,064,787 | |||
Finance income | 112,039 | 118,437 | |||
Finance costs | (207,948) | (217,589) | |||
Finance costs, net | 7 | (95,909) | (99,152) | ||
Share of profits of: | |||||
Joint ventures | 13,124 | 10,794 | |||
Associates | 25,089 | 61,220 | |||
PROFIT BEFORE TAX | 6 | 1,173,257 | 1,037,649 | ||
Income tax expense | 8 | (181,189) | (144,183) | ||
PROFIT FOR THE PERIOD | 992,068 | 893,466 | |||
Attributable to: | |||||
Equity holders of the Company | 504,202 | 471,698 | |||
Non-controlling interests | 487,866 | 421,768 | |||
992,068 | 893,466 | ||||
EARNINGS PER SHAREATTRIBUTABLE TO ORDINARY EQUI TY HOLDERS OF THE COMPANY | |||||
Basic - For profit for the period | 10 | RMB 0.0845 | RMB 0.0791 | ||
Diluted - For profit for the period | 10 | RMB 0.0845 | RMB 0.0791 | ||
For the six months ended30 June | |||
2016 | 2015 | ||
RMB'000 | RMB'000 | ||
(Unaudited) | (Unaudited) | ||
(Restated) | |||
PROFIT FOR THE PERIOD | 992,068 | 893,466 | |
OTHER COMPREHENSIVE INCOME Other comprehensive income to be reclassified to profit or loss in subsequent periods: Available-for-sale investments: | |||
Change in fair value | (185,867) | 375,706 | |
Income tax effect | 27,880 | (56,357) | |
(157,987) | 319,349 | ||
Exchange differences on translation of foreign operations | 3,415 | (103) | |
Net other comprehensive income to be reclassified to profit or loss in subsequent periods | (154,572) | 319,246 | |
OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAX | (154,572) | 319,246 | |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 837,496 | 1,212,712 | |
Attributable to: | |||
Equity holders of the Company | 424,163 | 636,419 | |
Non-controlling interests | 413,333 | 576,293 | |
837,496 | 1,212,712 | ||
Notes | 30 June | 31 December | ||
2016 | 2015 | |||
RMB'000 | RMB'000 | |||
(Unaudited) | (Audited) | |||
(Restated) | ||||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 11,665,909 | 11,161,067 | ||
Investment properties | 342,804 | 346,024 | ||
Land use rights | 1,675,063 | 1,639,197 | ||
Goodwill | 69,188 | 69,188 | ||
Other intangible assets | 126,509 | 138,928 | ||
Investment in joint ventures | 78,562 | 75,121 | ||
Investments in associates | 808,181 | 838,816 | ||
Available-for-sale investments | 1,748,754 | 1,956,185 | ||
Deferred tax assets | 223,073 | 207,003 | ||
Prepayments, deposits and other receivables | 759,463 | 343,168 | ||
Total non-current assets | 17,497,506 | 16,774,697 | ||
Current assets | ||||
Inventories | 21,518,804 | 20,360,455 | ||
Accounts and notes receivable | 11 | 14,872,862 | 15,294,498 | |
Prepayments, deposits and other receivables | 2,758,025 | 2,594,120 | ||
Financial assets held for trading | 54,434 | 38,530 | ||
Pledged deposits | 1,169,796 | 1,728,065 | ||
Term deposits with initial term of over three months | 824,537 | 851,160 | ||
Cash and cash equivalents | 8,504,233 | 9,535,436 | ||
Total current assets | 49,702,691 | 50,402,264 | ||
Total assets | 67,200,197 | 67,176,961 | ||
AviChina Industry & Technology Co. Ltd. published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 04:24:01 UTC.
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