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GCL-Poly Energy Holdings Limited
保 利 協 鑫 能 源 控 股 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock code: 3800)
ANNUAL RESULTS ANNOUNCEMENT FOR YEAR ENDED 31 DECEMBER 2016
FINANCIAL HIGHLIGHTS
Year ended 31 December
2016 2015 % of
RMB'million RMB'million
(Restated)
Changes
Continuing operations | |||
Revenue | 22,024.5 | 20,484.4 | 7.5% |
Gross profit | 7,044.2 | 5,740.9 | 22.7% |
Profit the year | 2,307.0 | 2,291.1 | 0.7% |
Profit for the year attributable to | |||
owners of the Company | 2,099.3 | 2,139.0 | -1.9% |
The basic earnings per share and diluted earnings per share for 2016 decreased to RMB11.41 cents and RMB11.41 cents (2015: RMB13.69 cents and RMB12.72 cents) respectively due to the effect of rights issue completed in 2016.
The profit for the year in 2015 included one-off compensation income arising from the amendment of settlement deed amounting to RMB1,160 million.
Discontinued operations
The loss for the year attributable to owners of the Company amounted to RMB69.9 million in 2016 (2015: Profit of RMB286.3 million).
Continuing and discontinued operations
The profit for the year attributable to owners of the Company for 2016 amounted to RMB2,029.4 million (2015: RMB2,425.2 million). The basic earnings per share and diluted earnings per share for 2016 are RMB11.03 cents and RMB11.03 cents (2015: RMB15.52 cents and RMB14.52 cents) respectively.
Business segment operating results from continuing operations:
Profit from solar materials business increased by 23.9% to RMB2,319.5 million (2015: RMB1,872.4 million).
Profit from new energy business increased by 309.8% to RMB243.6 million (2015: RMB59.4 million).
The board of directors (the ''Board'' or the ''Directors'') of GCL-Poly Energy Holdings Limited (the ''Company'' or ''GCL-Poly'') announces the audited consolidated results of the Company and its subsidiaries (the ''Group or ''GCL-Poly'') for the year ended 31 December 2016 together with the restated comparative figures for the corresponding period in the previous year as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December 2016
Notes | 2016 RMB'000 | 2015 RMB'000 (Restated) | |
Continuing operations | |||
Revenue | 2 | 22,024,537 | 20,484,445 |
Cost of sales | (14,980,339) | (14,743,575) | |
Gross profit | 7,044,198 | 5,740,870 | |
Other income Compensation income arising from the amendment of settlement deed | 3 6 | 926,431 - | 908,578 1,160,000 |
Distribution and selling expenses | (72,631) | (61,971) | |
Administrative expenses | (1,847,030) | (1,502,829) | |
Finance costs | 4 | (2,149,266) | (2,194,727) |
Other expenses, gains and losses, net | 5 | (1,091,067) | (1,224,640) |
Share of profits (losses) of joint ventures | 33,489 | (49,859) | |
Profit before tax | 2,844,124 | 2,775,422 | |
Income tax expense | 7 | (537,172) | (484,299) |
Profit for the year from continuing operations | 8 | 2,306,952 | 2,291,123 |
Discontinued operations (Loss) profit for the year from discontinued operations | 14 | (112,208) | 435,601 |
Profit for the year | 2,194,744 | 2,726,724 | |
Other comprehensive income Item that may be reclassified subsequently to profit or loss: Exchange differences arising on translation | 31,233 | 7,812 | |
Total comprehensive income for the year | 2,225,977 | 2,734,536 |
Note | 2016 RMB'000 | 2015 RMB'000 (Restated) | |
Profit (loss) for the year attributable to owners of the Company - from continuing operations | 2,099,295 | 2,138,966 | |
- from discontinued operations | (69,883) | 286,254 | |
Profit for the year attributable to owners of the Company | 2,029,412 | 2,425,220 | |
Profit (loss) for the year attributable to non-controlling interests - from continuing operations | 207,657 | 152,157 | |
- from discontinued operations | (42,325) | 149,347 | |
Profit for the year attributable to non-controlling interests | 165,332 | 301,504 | |
2,194,744 | 2,726,724 | ||
Total comprehensive income for the year attributable to: Owners of the Company | 2,064,780 | 2,420,755 | |
Non-controlling interests | 161,197 | 313,781 | |
2,225,977 | 2,734,536 | ||
2016 RMB cents | 2015 RMB cents (Restated) | ||
Earnings per share From continuing and discontinued operations Basic | 10 | 11.03 | 15.52 |
Diluted | 11.03 | 14.52 |
From continuing operations
Basic 11.41 13.69
Diluted 11.41 12.72
GCL-Poly Energy Holdings Ltd. published this content on 29 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 March 2017 13:14:15 UTC.
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