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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Beijing Capital Land Limited    2868   CNE100000239

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Beijing Capital Land : INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017

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08/17/2017 | 03:32pm CEST

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.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2868) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTS

For the six months ended 30 June 2017

Revenue

RMB7,368,346,000

Gross profit

RMB2,275,693,000

Profit attributable to owners of the Company

RMB646,199,000

Earnings per share

RMB21 cents

The board has resolved not to declare any interim dividend in respect of the six months ended

30 June 2017.

The board of directors ("the Board") of Beijing Capital Land Ltd. (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 and comparative figures of 2016, which have been prepared in accordance with the Accounting Standards for Business Enterprises.

The 2017 consolidated interim financial information of the Group has not been audited but has been reviewed by the Audit Committee and approved by the Board of the Company on 17 August 2017.

CONSOLIDATED INCOME STATEMENTS

(All amounts in thousands of RMB unless otherwise stated)

Six months

Six months

ended 30 June

ended 30 June

2017

2016

Note

Unaudited

(Restated)

Revenue 3

7,368,346

5,135,091

Less: Cost of sales 3

(4,721,477)

(4,287,310)

Taxes and surcharges 4

(371,176)

(411,261)

Selling and distribution expenses

(222,911)

(254,939)

General and administrative expenses

(313,126)

(200,868)

Financial (expenses)/income - net

(46,483)

217,941

Asset impairment losses

(252,137)

-

Add: (Losses)/gains arising from changes in fair value

(37,506)

892,400

Investment income

104,815

289,024

Including: Share of profit of joint ventures and

associates

89,228

199,516

Other income

67,412

-

Operating profit

1,575,757

1,380,078

Add: Non-operating income

4,765

61,600

Including: Gains on disposal of non-current assets

9

134

Less: Non-operating expenses

(3,258)

(3,448)

Including: Losses on disposal of non-current assets

-

(58)

Total profit

1,577,264

1,438,230

Less: Income tax expenses 6

(555,244)

(301,340)

Net profit

Attributable to:

1,022,020

1,136,890

- Owners of the Company

646,199

573,484

- Non-controlling interests

375,821

563,406

Earnings per share for profit attributable to

the owners of the Company

7

- Basic earnings per share (RMB Yuan)

0.21

0.19

- Diluted earnings per share (RMB Yuan)

0.21

0.19

CONSOLIDATED INCOME STATEMENTS (Continued)

(All amounts in thousands of RMB unless otherwise stated)

Six months ended 30 June 2017

Six months ended 30 June

2016

Unaudited (Restated) Net profit 1,022,020 1,136,890 Other comprehensive income for the period, net of tax 19,515 (46,060) Attributable to owners of the Company19,515 (46,060) Items that may be reclassified to profit or loss19,515 (46,060)
  • Changes in fair value of available-for-sale

    financial assets - (1,790)

  • Recycling of changes in fair value of investment

properties previously recognized in other comprehensive income

(60,095)

(30,329)

- Currency translation differences

12,481

10,795

- Effective portion of cash flow hedges

67,129

(24,736)

Total comprehensive income

1,041,535

1,090,830

Attributable to:

- Owners of the Company

665,714

527,424

- Non-controlling interests

375,821

563,406

CONSOLIDATED BALANCE SHEETS

(All amounts in thousands of RMB unless otherwise stated)

Note

30 June

2017

Unaudited

31 December

2016

(Restated)

Current assets

Cash at bank and on hand

16,934,497

17,926,073

Financial assets at fair value through profit or loss

255,963

217,141

Trade receivables 9

1,829,491

995,223

Advances to suppliers

2,325,138

372,047

Interests receivable

141

30,581

Dividends receivable

17,600

12,000

Other receivables

3,917,983

3,349,177

Inventories

63,446,395

64,876,885

Assets of disposal group classified as held for sale

9,921

9,921

Current portion of non-current assets

4,707,050

3,957,937

Other current assets

2,974,876

2,841,299

Total current assets

96,419,055

94,588,284

Non-current assets

Available-for-sale financial assets

2,390,462

2,390,462

Long-term equity investments

3,239,431

3,078,429

Investment properties

16,804,565

15,146,259

Fixed assets

136,437

134,630

Long-term receivables

3,126,784

2,798,495

Goodwill

-

172,137

Long-term prepaid expenses

101,450

100,940

Deferred income tax assets

826,348

655,196

Other non-current assets

197,415

394,808

Total non-current assets

26,822,892

24,871,356

TOTAL ASSETS

123,241,947

119,459,640

Beijing Capital Land Limited published this content on 17 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 August 2017 13:31:04 UTC.

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Financials ( CNY)
Sales 2017 26 006 M
EBIT 2017 4 033 M
Net income 2017 1 754 M
Debt 2017 15 987 M
Yield 2017 6,35%
P/E ratio 2017 5,63
P/E ratio 2018 4,03
EV / Sales 2017 1,00x
EV / Sales 2018 0,37x
Capitalization 9 893 M
Chart BEIJING CAPITAL LAND LIMIT
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Beijing Capital Land Limit Technical Analysis Chart | 2868 | CNE100000239 | 4-Traders
Technical analysis trends BEIJING CAPITAL LAND LIMIT
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 2
Average target price 4,35  CNY
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Jun Tang President & Executive Director
Yong Zheng Liu Chairman-Supervisory Board
Song Ping Li Chairman
Shu Bin Fan Chief Financial Officer & Vice President
Yuk Keung Ng Independent Non-Executive Director
Sector and Competitors