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.

CHINA TING GROUP HOLDINGS LIMITED

華 鼎 集 團 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03398) UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

The Board presents the unaudited consolidated results of the Group for the six months ended 30 June 2016 as follows:

Six months ended 30 June

2016

2015

HK$ million

HK$ million

% Change

Revenue

OEM/ODM Business

905.3

1,005.7

(10.0

)

Fashion Retail Business

223.2

251.0

(11.1

)

1,128.5

1,256.7

(10.2

)

Operating profit

80.0

29.3

175.8

Profit before tax

76.6

30.7

149.5

Significant items:

(Reversal of impairment loss)/impairment loss on

loan to an associate

(9.7

)

20.6

Impairment loss on an available-for-sale financial

asset

-

20.2

Net fair value gains on derivative financial

instruments

(20.9

)

(25.0

)

Realised losses/(gains) on derivative financial

instruments

15.5

(0.7

)

Impairment loss on goodwill

-

35.0

Profit before tax before the significant items

61.5

80.8

(23.9

)

Dividend per share (HK cents)

1.88

-

Dividend payout ratio

70%

N/A

Equity attributable to the Company's equity holders

2,411.5

Equity per share (HK$)

1.15

INTERIM RESULTS

The board (the "Board") of directors (the "Directors") of China Ting Group Holdings Limited (the "Company") presents the unaudited condensed consolidated results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2016, together with the unaudited comparative figures for the corresponding period in 2015 as follows:

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30 JUNE 2016

Six months ended 30 June

2016

2015

(Unaudited)

(Unaudited)

Note

HK$'000

HK$'000

Revenue

3

1,128,520

1,256,708

Cost of sales

(780,292

(887,537

Gross profit

348,228

369,171

Other income

4

3,561

7,335

Other gains, net

5

7,824

10,847

Selling, marketing and distribution costs

(137,276

(150,767

Administrative expenses

(157,513

(157,129

Gains on derivative financial instruments

5,439

25,702

Impairment loss on an available-for-sale financial asset

-

(20,243

Impairment loss on goodwill

-

(35,000

Reversal of impairment loss/(impairment loss) on loans to an associate

9,738

(20,584

Operating profit

6

80,001

29,332

Finance income

7

8,719

10,552

Finance costs

7

(10,521

(7,362

Share of (losses)/profits of associates

(2

4

Share of losses of joint ventures

(1,574

(1,851

Profit before income tax

76,623

30,675

Income tax expense

8

(20,580

(27,053

Profit for the period

56,043

3,622

Other comprehensive loss for the period:

Items that may be reclassified to profit or loss

- Currency translation differences

(47,285

(2,092

- Revaluation loss on an available-for-sale financial asset

-

(20,384

- Reclassification adjustment upon impairment of an available-for-sale financial asset

-

20,243

Other comprehensive loss for the period, net of tax

(47,285

(2,233

Total comprehensive income for the period

8,758

1,389

) ) ) ) ) )

)

)

)

) ) ) ) ) ) ) ) )

)

) )

Six months ended 30 June

2016

2015

(Unaudited)

(Unaudited)

Note

HK$'000

HK$'000

Profit attributable to:

Equity holders of the Company

56,239

5,606

Non-controlling interests

(196

(1,984

56,043

3,622

Total comprehensive income/(loss) attributable to:

Equity holders of the Company

10,766

3,117

Non-controlling interests

(2,008

(1,728

8,758

1,389

Earnings per share for profit attributable to equity holders of the Company (expressed in HK cents per share)

- basic

9

2.68 cents

0.27 cent

- diluted

9

2.68 cents

0.27 cent

) ) ) ) CONDENSED CONSOLIDATED BALANCE SHEET

AS AT 30 JUNE 2016

As at 30 June

2016

As at 31 December

2015

(Unaudited)

(Audited)

Note

HK$'000

HK$'000

ASSETS

Non-current assets

Property, plant and equipment

639,158

660,399

Investment properties

27,500

25,000

Land use rights

76,856

79,848

Interests in associates

1,936

2,000

Loans to an associate

256,067

245,392

Interests in joint ventures

9,671

14,019

Intangible assets

28,564

23,929

Deferred income tax assets

57,883

53,697

1,097,635

1,104,284

Current assets

Inventories

698,923

743,864

Trade and other receivables

11

693,531

737,294

Tax recoverable

-

2,098

Available-for-sale financial assets

291,853

297,131

Loan to an associate

57,000

-

Financial assets at fair value through profit or loss

21,202

22,953

Entrusted loans

11

169,288

173,285

Term deposits

33,836

8,979

Pledged bank deposits

13,394

18,932

Cash and cash equivalents

332,454

302,962

2,311,481

2,307,498

Total assets

3,409,116

3,411,782

China Ting Group Holdings Limited published this content on 26 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 August 2016 13:59:10 UTC.

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