BEIJING CAPITAL LAND LTD. 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) 2016 ANNUAL RESULTS ANNOUNCEMENT FINANCIAL HIGHLIGHTSFor the year ended 31 December 2016
• Revenue was RMB20,349,404,000 (Restated 2015: RMB15,994,770,000)
• Net profit was RMB2,878,298,000 (Restated 2015: RMB2,986,800,000)
Profit attributable to owners of the Company was RMB2,031,862,000 (Restated 2015: RMB2,079,382,000)
Earnings per share was RMB67 cents (Restated 2015: RMB95 cents)
The Board of Director recommended the payment of final dividend of RMB0.20 per share (before tax) (2015: RMB0.20 per share).
The board of directors ("the Board") of Beijing Capital Land Ltd. (the "Company" or "BCL") is pleased to announce the consolidated results of the Company and its subsidiaries (collectively the "Group") which have been prepared in accordance with the CAS for the year ended 31 December 2016 (the "Year").
CONSOLIDATED INCOME STATEMENTS(All amounts in thousands of units of RMB unless otherwise stated)
Notes | Year ended 31 December 2016 | Year ended 31 December 2015 (Restated) | |
Revenue | 3 | 20,349,404 | 15,994,770 |
Less: Cost of sales | 3 | (16,863,865) | (13,080,165) |
Taxes and surcharges | 4 | (1,433,614) | (1,121,664) |
Selling and distribution expenses | (624,943) | (605,585) | |
General and administrative expenses | (458,678) | (503,753) | |
Financial income - net | 58,367 | 52,015 | |
Asset impairment losses | (772) | (130,091) | |
Add: Gains arising from changes in fair value | 1,485,125 | 1,633,982 | |
Investment income | 1,317,639 | 1,506,744 | |
Including: Share of profit of joint ventures and associates | 582,988 | 182,356 | |
Operating profit | 3,828,663 | 3,746,253 | |
Add: Non-operating income | 131,098 | 326,263 | |
Including: Gains on disposal of non-current assets | 163 | 285 | |
Less: Non-operating expenses | (6,989) | (63,698) | |
Including: Losses on disposal of non-current assets | (58) | (113) | |
Total profit | 3,952,772 | 4,008,818 | |
Less: Income tax expenses | 6 | (1,074,474) | (1,022,018) |
Profit for the year | 2,878,298 | 2,986,800 |
Including: The net profit of acquiree before combination
- Owners of the Company | 2,031,862 | 2,079,382 |
- Non-controlling interests | 846,436 | 907,418 |
under common control 154,904 107,536 Attributable to:
Earnings per share for profit attributable to theowners of the Company | 7 | |
- Basic earnings per share (RMB Yuan) | 0.67 | 0.95 |
- Diluted earnings per share (RMB Yuan) | 0.67 | 0.95 |
(All amounts in thousands of units of RMB unless otherwise stated)
Year ended | Year ended | |
31 December 2016 | 31 December 2015 | |
Notes | (Restated) | |
Net profit | 2,878,298 | 2,986,800 |
Other comprehensive income for the year, net of tax | (167,134) | (43,593) |
Attributable to owners of the Company | (167,134) | (43,593) |
Items that may be reclassified to profit or loss | (167,134) | (43,593) |
- Share of other comprehensive income in the investees can be reclassified into profit and loss at equity method | 31,984 | - |
- Changes in fair value of available-for-sale financial assets | (8,087) | 2,268 |
- Changes in fair value of investment properties transferred from inventories | 4,435 | - |
- Recycling of changes in fair value of investment properties previously recognized in other comprehensive income | (110,207) | - |
- Currency translation differences | 9,928 | (18,247) |
- Effective portion of cash flow hedges | (95,187) | (27,614) |
Total comprehensive income for the year | 2,711,164 | 2,943,207 |
Total comprehensive income attributable to owners of the Company | 1,864,728 | 2,035,789 |
Total comprehensive income attributable to non-controlling interest | 846,436 | 907,418 |
(All amounts in thousands of units of RMB unless otherwise stated)
31 December 2016 | 31 December 2015 | |||
Notes | (Restated) | |||
Current Assets | ||||
Cash at bank and on hand | 17,925,747 | 20,102,982 | ||
Financial assets at fair value through profit and loss | 217,141 | 228,266 | ||
Notes receivable | - | 1,811 | ||
Trade receivables | 9 | 995,223 | 676,898 | |
Advances to suppliers | 372,047 | 585,740 | ||
Interest receivable | 30,581 | 19,980 | ||
Dividends receivable | 12,000 | 21,825 | ||
Other receivables | 3,436,466 | 2,511,075 | ||
Inventories | 64,543,029 | 58,139,119 | ||
Assets classified as held for sale | 9,921 | 9,921 | ||
Current portion of non-current assets | 3,957,937 | 593,030 | ||
Other current assets | 2,839,473 | 2,180,922 | ||
Total current assets | 94,339,565 | 85,071,569 | ||
Non-current assets | ||||
Available-for-sale financial assets | 2,390,462 | 86,444 | ||
Long-term receivables | 2,798,495 | 4,663,667 | ||
Long-term equity investments | 3,078,429 | 4,820,853 | ||
Investment properties | 15,146,259 | 11,945,033 | ||
Fixed assets | 134,443 | 138,265 | ||
Goodwill | 172,137 | 172,137 | ||
Long-term prepaid expenses | 100,940 | 104,580 | ||
Deferred income tax assets | 655,196 | 469,401 | ||
Other non-current assets | 394,808 | - | ||
Total non-current assets | 24,871,169 | 22,400,380 | ||
TOTAL ASSETS | 119,210,734 | 107,471,949 | ||
Beijing Capital Land Limited published this content on 20 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 February 2017 13:37:03 UTC.
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