COSCO SHIPPING HOLDINGS CO., 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.
中 遠 海 運 控 股 股 份 有 限 公 司
COSCO SHIPPING Holdings Co., Ltd.*(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1919) ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTS:Revenues from continuing operations of the Group for the year 2016 was RMB69,833,164,000, representing an increase of RMB14,684,867,000 as compared to 2015.
Loss attributable to equity holders of the Company for the year 2016 was RMB9,906,003,000 as compared to profit attributable to equity holders of the Company of RMB469,302,000 in 2015.
The basic and diluted loss per share for 2016 amounted to RMB0.97 and RMB0.97, respectively.
The Board resolved not to propose any final dividend for the year 2016.
The board of directors (the "Board") of COSCO SHIPPING Holdings Co., Ltd.* (the "Company" or "COSCO SHIPPING Holdings") hereby announces the results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2016 (the "Reporting Period"), together with the comparative figures for the year ended 31 December 2015 .
COSCO SHIPPING HOLDINGS CO., LTD. CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2016Note | 2016 RMB'000 | 2015 RMB'000 | |
(Restated) | |||
Continuing operations | |||
Revenues | 3 | 69,833,164 | 55,148,297 |
Cost of services and inventories sold | (70,382,845) | (51,425,413) | |
Gross (loss)/profit | (549,681) | 3,722,884 | |
Other (expenses)/income, net | 4 | (470,193) | 1,460,646 |
Selling, administrative and general expenses | (4,021,075) | (3,452,013) | |
Operating (loss)/profit | (5,040,949) | 1,731,517 | |
Finance income | 5 | 499,728 | 801,948 |
Finance costs | 5 | (1,912,878) | (1,860,813) |
Net related exchange loss | 5 | (401,579) | (486,776) |
Net finance costs | 5 | (1,814,729) | (1,545,641) |
Share of profits less losses of | (6,855,678) | 185,876 | |
- joint ventures | 765,441 | 761,978 | |
- associates | 634,167 | 794,242 | |
(Loss)/profit before income tax from | |||
continuing operations | (5,456,070) | 1,742,096 | |
Income tax expense | 6 | (506,439) | (530,884) |
(Loss)/profit for the year from continuing | |||
operations | (5,962,509) | 1,211,212 | |
Discontinued operations | |||
Loss on disposals of discontinued operations (Loss)/profit from discontinued operations, | (2,430,262) | - | |
net of tax | (708,461) | 504,219 | |
Reversal of provision | - | 493,173 | |
(Loss)/profit for the year from discontinued | |||
operations | (3,138,723) | 997,392 | |
(Loss)/profit for the year | (9,101,232) | 2,208,604 | |
Note | 2016 RMB'000 | 2015 RMB'000 | |
(Restated) | |||
Equity holders of the Company (9,906,003) 469,302 | |||
Non-controlling interests | 804,771 | 1,739,302 | |
(9,101,232) | 2,208,604 | ||
of the Company arising from: - Continuing operations (7,227,647) 333,728 | |||
- Discontinued operations | (2,678,356) | 135,574 | |
(9,906,003) | 469,302 | ||
2016 | 2015 | ||
RMB | RMB | ||
(Restated) | |||
(Loss)/profit attributable to:
(Loss)/profit attributable to equity holders
(Loss)/earnings per share attributable to equity holders of the Company:
Basic (loss)/earnings per share (RMB)
- From continuing operations | 8 | (0.71) | 0.03 |
- From discontinued operations | 8 | (0.26) | 0.02 |
(0.97) 0.05
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016 2016 2015RMB'000 RMB'000
(Restated)
(Loss)/profit for the year (9,101,232) 2,208,604--------------- ---------------
Other comprehensive income/(loss)Items that have been reclassified or may be reclassified subsequently to profit or loss
Fair value loss on available-for-sale financial
assets, net of tax (40,920) (13,134)
Impairment loss on available-for-sale financial assets charged to the consolidated income
statement 131,484 3,532
Share of other comprehensive loss of joint ventures
and associates (12,141) (32,357)
Recycling of currency translation differences upon
disposals of discontinued operations | 3,368,688 | - |
Currency translation differences | 917,880 | 618,972 |
Item that will not be reclassified subsequently to |
profit or loss
Remeasurements of post-employment benefit
obligations 120,520 (51,330)
Total other comprehensive income -------4,485,511 -----525,683
------------------------------------------------------------------ --------------------------------------------------------------------
Total comprehensive (loss)/income for the year | (4,615,721) | 2,734,287 |
Total comprehensive (loss)/income for the year | ||
attributable to: - Equity holders of the Company | (5,984,589) | 523,594 |
- Non-controlling interests | 1,368,868 | 2,210,693 |
(4,615,721) | 2,734,287 | |
Total comprehensive (loss)/income attributable to | ||
equity holders of the Company arising from: -Continuing operations | (6,302,049) | (201,558) |
-Discontinued operations | 317,460 | 725,152 |
(5,984,589) | 523,594 |
China COSCO Holdings Company Limited published this content on 31 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 April 2017 04:03:10 UTC.
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