CHINA COAL ENERGY 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.
中國中煤能源股份有限公司(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 01898) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIgHLIgHTS:•
Revenue of the Group in the first half of 2017 was RMB37.104 billion, representing a year-
on-year increase of RMB10.803 billion (or 41.1%).
•
Profit attributable to the equity holders of the Company in the first half of 2017 was
RMB2.280 billion, representing a year-on-year increase of RMB2.055 billion.
•
Basic earnings per share during the reporting period amounted to RMB0.17, representing a
year-on-year increase of RMB0.15.
•
EBITDA in the first half of 2017 was RMB9.124 billion, representing a year-on-year
increase of RMB3.738 billion (or 69.4%).
•
The Company does not distribute interim dividends for 2017.
The Board announces the interim results of the Group for the six months ended 30 June 2017 prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting". The Group's interim results have not been audited, but have been reviewed by the Company's auditor, Deloitte Touche Tohmatsu.
A. SELECTED INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 JUNE 2017
Six months ended 30 June 2017 2016 (Unaudited) (Unaudited)Notes RMB'000 RMB'000
Revenue 4 37,103,957 26,300,798 Cost of salesMaterials used and goods traded | (14,550,587) | (11,051,857) | |
Staff costs | (1,700,820) | (1,874,285) | |
Depreciation and amortisation | (2,892,021) | (3,084,737) | |
Repair and maintenance | (672,770) | (381,512) | |
Transportation costs and port expenses | (4,692,303) | (4,167,377) | |
Sales taxes and surcharges | (1,145,921) | (648,072) | |
Others | (2,943,719) | (2,096,477) | |
Cost of sales | (28,598,141) | (23,304,317) | |
gross profit | 8,505,816 | 2,996,481 | |
Selling, general and administrative expenses | (2,732,135) | (1,949,884) | |
Other income | - | 6,906 | |
Other gains, net | 26,857 | 993,953 | |
Finance income | 5 | 317,004 | 404,258 |
Finance costs | 5 | (1,899,208) | (2,441,803) |
Share of profits of associates and joint ventures | 400,838 | 281,013 | |
Profit before income tax | 4,619,172 | 290,924 | |
Income tax (expense) credit | 6 | (1,088,479) | 250,176 |
Profit for the period | 3,530,693 | 541,100 | |
Profit attributable to: Equity holders of the Company | 2,279,918 | 225,134 | |
Non-controlling interests | 1,250,775 | 315,966 | |
3,530,693 | 541,100 |
Notes RMB'000 RMB'000
Other comprehensive income(loss):Items that may be reclassified subsequently to profit or loss
Fair value changes on available-for-sale financial assets,
net of tax 944 (1,961)
Fair value loss on hedging instruments - (592) Currency translation differences 11,358 17,584
Total items that may be reclassified subsequently to
profit or loss | 12,302 | 15,031 | |
Other comprehensive income for the period, net of tax | 12,302 | 15,031 | |
Total comprehensive income for the period | 3,542,995 | 556,131 | |
Total comprehensive income attributable to: Equity holders of the Company | 2,292,220 | 240,165 | |
Non-controlling interests | 1,250,775 | 315,966 | |
3,542,995 | 556,131 | ||
Basic earnings per share (based on the profit attributable to the equity holders of the Company) (RMB Yuan) | 7 | 0.17 | 0.02 |
AS AT 30 JUNE 2017
Notes | At 30 June 2017 (Unaudited) RMB'000 | At 31 December 2016 (Audited) RMB'000 | |
ASSETS Non-current assets Property, plant and equipment | 127,166,745 | 128,239,858 | |
Investment properties | 47,358 | 53,270 | |
Land use rights | 4,696,861 | 5,038,319 | |
Mining and exploration rights | 32,962,853 | 33,673,946 | |
Intangible assets | 1,417,964 | 1,443,284 | |
Goodwill | 6,084 | 6,084 | |
Investments in associates | 12,508,230 | 12,008,565 | |
Investments in joint ventures | 2,305,535 | 2,020,163 | |
Available-for-sale financial assets | 5,463,905 | 5,467,784 | |
Deferred income tax assets | 3,412,559 | 2,982,306 | |
Long-term receivables | 286,767 | 285,342 | |
Other non-current assets | 6,761,900 | 6,897,443 | |
Total non-current assets | 197,036,761 | 198,116,364 | |
Current assets Inventories | 6,937,710 | 7,390,899 | |
Trade and notes receivables | 9 | 15,658,615 | 14,457,865 |
Prepayments and other receivables | 6,619,870 | 7,424,173 | |
Restricted bank deposits | 2,069,254 | 1,919,510 | |
Term deposits with initial terms of over three months | 2,136,304 | 3,455,113 | |
Cash and cash equivalents | 13,644,397 | 9,893,779 | |
Total current assets | 47,066,150 | 44,541,339 | |
TOTAL ASSETS | 244,102,911 | 242,657,703 |
China Coal Energy Company Limited published this content on 23 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 August 2017 13:17:04 UTC.
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