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 2016The 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$) | 1.15 |
The board (the "Board") of directors (the "Directors") of China Ting Group Holdings Limited (the "Company") presents the unaudited condensed consolidated results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2016, together with the unaudited comparative figures for the corresponding period in 2015 as follows:
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 JUNE 2016
Six months ended 30 June | ||||||
2016 | 2015 | |||||
(Unaudited) | (Unaudited) | |||||
Note | HK$'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$'000 | ||||
Profit attributable to: | ||||||
Equity holders of the Company | 56,239 | 5,606 | ||||
Non-controlling interests | (196 | (1,984 | ||||
56,043 | 3,622 | |||||
Total comprehensive income/(loss) attributable to: | ||||||
Equity holders of the Company | 10,766 | 3,117 | ||||
Non-controlling interests | (2,008 | (1,728 | ||||
8,758 | 1,389 | |||||
Earnings per share for profit attributable to equity holders of the Company (expressed in HK cents per share) | ||||||
- basic | 9 | 2.68 cents | 0.27 cent | |||
- diluted | 9 | 2.68 cents | 0.27 cent |
AS AT 30 JUNE 2016
As at 30 June 2016 | As at 31 December 2015 | |||
(Unaudited) | (Audited) | |||
Note | HK$'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.
Original documenthttp://www.irwebcast.com/cgi-local/report/redirect.cgi?url=http://www.irasia.com/listco/hk/chinating/announcement/a163996-e_a161199.pdf
Public permalinkhttp://www.publicnow.com/view/9775C52E6132CB628436B3C195E152A22B91FCA8