CHINA SHENHUA ENERGY COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the content of this announcement, make no representation 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 content of this announcement.
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 01088) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTS•
Revenue of the Group in 2016 were RMB183,127 million, representing an
increase of RMB6,058 million or 3.4% over 2015.
•
Profit for the year attributable to equity holders of the Company in 2016 was
RMB24,910 million, representing an increase of RMB7,261 million or 41.1% over 2015.
•
Basic earnings per share was RMB1.252.
•
The Board recommend the payment of: (1) a final dividend in cash of RMB0.46
per share or RMB9,149 million for the year of 2016; and (2) a special dividend in cash of RMB2.51 per share or RMB49,923 million.
The Board of China Shenhua Energy Company Limited (the "Company") presented the annual results of the Company and its subsidiaries (the "Group" or "China Shenhua") for the year ended 31 December 2016 and reported our performance for the year.
FINANCIAL INFORMATIONFinancial information extracted from the audited consolidated financial statements for the year ended 31 December 2016 prepared in accordance with International Financial Reporting Standards ("IFRSs"):
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 2016
Year ended 31 December2016 RMB million | 2015 RMB million | |
Revenue | 183,127 | 177,069 |
Cost of sales | (124,843) | (123,341) |
Gross profit | 58,284 | 53,728 |
Selling expenses | (610) | (584) |
General and administrative expenses | (8,423) | (9,714) |
Other gains and losses | (3,078) | (5,856) |
Other income | 1,379 | 1,659 |
Other expenses | (1,511) | (626) |
Interest income | 723 | 608 |
Finance costs | (5,748) | (5,123) |
Share of results of associates | 237 | 428 |
Profit before income tax | 41,253 | 34,520 |
Income tax expense | (9,283) | (9,561) |
Profit for the year | 31,970 | 24,959 |
RMB million RMB million
Other comprehensive income (expense) for the yearItem that will not be
reclassified to profit or loss, net of income tax:
Remeasurement of defined
benefit obligations 21 (21)
Items that may be reclassified subsequently
to profit or loss, net of income tax: Exchange differences | 311 | 192 |
Share of other comprehensive income (expense) of associates | 60 | (22) |
371 | 170 | |
Other comprehensive income for the year, net of income tax | 392 | 149 |
Total comprehensive income for the year | 32,362 | 25,108 |
Profit for the year attributable to: Equity holders of the Company | 24,910 | 17,649 |
Non-controlling interests | 7,060 | 7,310 |
31,970 | 24,959 | |
Total comprehensive income for the year attributable to: Equity holders of the Company | 25,272 | 17,783 |
Non-controlling interests | 7,090 | 7,325 |
32,362 | 25,108 | |
Earnings per share (RMB) - Basic | 1.252 | 0.887 |
AT 31 DECEMBER 2016
31 December 2016 RMB million | 31 December 2015 RMB million | |
Non-current assets Property, plant and equipment | 337,785 | 339,326 |
Construction in progress | 35,220 | 33,610 |
Exploration and evaluation assets | 2,344 | 2,176 |
Intangible assets | 3,018 | 2,964 |
Interest in associates | 5,142 | 5,113 |
Available-for-sale investments | 1,800 | 1,795 |
Other non-current assets | 36,749 | 34,562 |
Lease prepayments | 17,359 | 16,535 |
Deferred tax assets | 3,849 | 2,674 |
Total non-current assets | 443,266 | 438,755 |
Current assets Inventories | 13,341 | 12,816 |
Accounts and bills receivable | 20,573 | 41,019 |
Prepaid expenses and other current assets | 48,792 | 19,351 |
Restricted bank deposits Time deposits with original maturity over three months | 6,141 3,428 | 4,611 916 |
Cash and cash equivalents | 41,188 | 42,323 |
Total current assets | 133,463 | 121,036 |
Current liabilities Borrowings | 11,811 | 12,812 |
Short-term debenture | - | 4,998 |
Accounts and bills payable | 35,156 | 33,990 |
Accrued expenses and other payables | 41,361 | 47,519 |
Current portion of medium-term notes | 19,989 | - |
Current portion of long-term liabilities | 403 | 203 |
Income tax payable | 3,465 | 1,965 |
Total current liabilities | 112,185 | 101,487 |
Net current assets | 21,278 | 19,549 |
Total assets less current liabilities | 464,544 | 458,304 |
CSEC - China Shenhua Energy Company Ltd. published this content on 17 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 March 2017 09:27:09 UTC.
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