CHINA BLUECHEMICAL 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: 03983) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTSRevenue amounted to RMB8,504 million
Gross profit amounted to RMB299 million
Loss attributable to owners of the parent amounted to RMB216 million
Basic loss per share was RMB0.05
Proposed special dividend of RMB0.05 per share
For the year ended 31 December 2016
2016 | 2015 | |||||
Notes | RMB'000 | RMB'000 | ||||
Revenue | 4 | 8,503,792 | 10,671,841 | |||
Cost of sales | (8,204,309 | (8,925,894 | ||||
Gross profit | 299,483 | 1,745,947 | ||||
Other income | 4 | 63,241 | 125,150 | |||
Other gains and losses | 5 | 204,967 | 267,495 | |||
Selling and distribution expenses | (344,473 | (409,408 | ||||
Administrative expenses | (450,128 | (408,347 | ||||
Other expenses | (12,256 | (19,862 | ||||
Change in fair value of obligation arising from a put option to a non-controlling shareholder | 6 | (1,519 | 4,849 | |||
Change in fair value of derivative financial instrument | 7 | (1,689 | (2,061 | |||
Gain recognised on expiry of the Put Option and Call Option | 7 | 53,822 | - | |||
Gain on loss of control of a subsidiary | 8 | 6,282 | - | |||
Finance income | 9 | 7,974 | 9,778 | |||
Finance costs | 10 | (162,102 | (91,457 | |||
Net exchange gains/(losses) | 8,537 | (22,273 | ||||
Share of losses of joint ventures | (1,541 | (609 | ||||
Share of losses of associates | (168 | (68,111 | ||||
(Loss)/profit before tax | 11 | (329,570 | 1,131,091 | |||
Income tax credit/(expenses) | 12 | 92,900 | (288,050 | |||
(Loss)/profit for the year | (236,670 | 843,041 | ||||
(Loss)/profit for the year attributable to: | ||||||
Owners of the parent | 13 | (215,504 | 829,657 | |||
Non-controlling interests | (21,166 | 13,384 | ||||
(236,670 | 843,041 | |||||
(Loss)/earnings per share attributable to ordinary owners of the parent | ||||||
- Basic for the year (RMB) | 15 | (0.05 | 0.18 | |||
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) ) ) ) ) CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the year ended 31 December 2016
2016 | 2015 | |||||
Notes | RMB'000 | RMB'000 | ||||
(Loss)/profit for the year | (236,670 | 843,041 | ||||
Other comprehensive income that may be reclassified subsequently to profit or loss, net of tax: | ||||||
Fair value gains on unlisted investment during the year | 202,041 | 274,607 | ||||
Reclassification adjustment relating to disposal upon maturity | (202,041 | (274,607 | ||||
- | - | |||||
Exchange differences arising on translation | 6,808 | (20,927 | ||||
Share of other comprehensive income of joint ventures, net of related income tax | 1,865 | - | ||||
Cumulative translation loss release to profit or loss upon loss of control over a subsidiary | 8 | 37,191 | - | |||
Other comprehensive income/(expense) for the year, net of tax | 45,864 | (20,927 | ||||
Total comprehensive (expense)/income for the year | (190,806 | 822,114 | ||||
Total comprehensive (expense)/income for the year attributable to: | ||||||
Owners of the parent | (169,640 | 808,730 | ||||
Non-controlling interests | (21,166 | 13,384 | ||||
(190,806 | 822,114 | |||||
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Details of the dividends payable and proposed for the year are disclosed in note 15 to the financial statements.
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAt 31 December 2016
2016 | 2015 | |||
Notes | RMB'000 | RMB'000 | ||
ASSETS | ||||
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 9,013,942 | 9,783,087 | ||
Mining and exploration rights | 469,036 | 471,928 | ||
Prepaid lease payments | 604,569 | 619,087 | ||
Investment properties | 130,656 | - | ||
Intangible assets | 28,148 | 32,464 | ||
Investments in joint ventures | 278,443 | 212,449 | ||
Investments in associates | 214,804 | 255,975 | ||
Available-for-sale investment | 600 | 600 | ||
Deferred tax assets | 847,845 | 677,575 | ||
Other long-term prepayment | 3,000 | 12,000 | ||
11,591,043 | 12,065,165 | |||
CURRENT ASSETS | ||||
Inventories | 1,279,001 | 1,406,243 | ||
Trade receivables | 14 | 485,951 | 659,092 | |
Bills receivable | 109,509 | 124,820 | ||
Prepayments, deposits and other receivables | 212,318 | 328,551 | ||
Tax recoverable | 286,323 | 279,645 | ||
Pledged bank deposits | 4,136 | 4,059 | ||
Time deposits with original maturity over three months | - | 30,429 | ||
Cash and cash equivalents | 5,698,412 | 5,313,907 | ||
8,075,650 | 8,146,746 | |||
TOTAL ASSETS | 19,666,693 | 20,211,911 | ||
EQUITY AND LIABILITIES | ||||
CAPITAL AND RESERVES | ||||
Issued capital | 13 | 4,610,000 | 4,610,000 | |
Reserves | 8,476,141 | 8,876,281 | ||
Proposed dividends | 15 | 230,500 | 368,800 | |
13,316,641 | 13,855,081 | |||
Non-controlling interests | 997,219 | 1,026,493 | ||
TOTAL EQUITY | 14,313,860 | 14,881,574 | ||
China BlueChemical Ltd. published this content on 29 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 March 2017 15:09:10 UTC.
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