HAIER ELECTRONICS GROUP 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.
HAIER ELECTRONICS GROUP CO., LTD.海 爾 電 器 集 團 有 限 公 司*
(incorporated in the Bermuda with limited liability)
(Stock Code: 1169) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 AND CLOSURE OF REGISTER OF MEMBERSFINANCIAL HIGHLIGHTS | 2016 | 2015 | Changes in |
RMB'000 | RMB'000 | % | |
Revenue | 63,854,877 | 62,826,119 | +1.6% |
Gross profit | 11,071,967 | 9,992,692 | +10.8% |
Adjusted operating profit (as defined below) | 3,019,339 | 2,717,032 | +11.1% |
Profit for the year | 2,810,635 | 2,734,497 | +2.8% |
Attributable to: Owners of the Company | 2,786,219 | 2,702,996 | +3.1% |
Non-controlling interests | 24,416 | 31,501 | |
2,810,635 | 2,734,497 | ||
Earnings per share attributable to ordinary equity holders of the Company Basic | RMB100.20 cents | RMB98.12 cents | +2.1% |
Diluted | RMB98.92 cents | RMB96.82 cents | +2.2% |
Proposed final dividend per share | HK17 cents | HK12 cents |
* For identification purpose only
ANNUAL RESULTSThe Board (the "Board") of directors of Haier Electronics Group Co., Ltd. (the "Company") hereby announces the consolidated annual results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2016 together with comparative figures for the previous year as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSSYear ended 31 December 2016
Notes | 2016 RMB'000 | 2015 RMB'000 | |
REVENUE | 4 | 63,854,877 | 62,826,119 |
Cost of sales | (52,782,910) | (52,833,427) | |
Gross profit | 11,071,967 | 9,992,692 | |
Other income and gains | 4 | 678,739 | 802,727 |
Selling and distribution expenses | (6,091,216) | (5,348,277) | |
Administrative expenses | (2,032,317) | (1,972,653) | |
Other expenses and losses | (62,618) | (71,692) | |
Finance costs | 6 | (43,022) | (70,525) |
Share of profits and losses of associates | (27,323) | 11,714 | |
PROFIT BEFORE TAX | 5 | 3,494,210 | 3,343,986 |
Income tax expense | 7 | (683,575) | (609,489) |
PROFIT FOR THE YEAR | 2,810,635 | 2,734,497 | |
Attributable to: Owners of the Company | 2,786,219 | 2,702,996 | |
Non-controlling interests | 24,416 | 31,501 | |
2,810,635 | 2,734,497 | ||
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY | 9 | ||
Basic | RMB100.20 cents | RMB98.12 cents | |
Diluted | RMB98.92 cents | RMB96.82 cents |
Year ended 31 December 2016
2016 2015RMB'000 RMB'000
PROFIT FOR THE YEAR 2,810,635 2,734,497
OTHER COMPREHENSIVE INCOME
Other comprehensive income to be reclassified to profit or loss in subsequent periods:
Exchange differences:
Exchange differences on translation of foreign operations 39,721 29,671 Reclassification adjustments for a foreign operation
liquidated during the year 5,267 -
44,988 | 29,671 | |
OTHER COMPREHENSIVE INCOME FOR THE YEAR | 44,988 | 29,671 |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,855,623 | 2,764,168 |
Attributable to: Owners of the Company | 2,831,207 | 2,732,667 |
Non-controlling interests | 24,416 | 31,501 |
2,855,623 | 2,764,168 |
31 December 2016
Notes | 2016 RMB'000 | 2015 RMB'000 | |
NON-CURRENT ASSETS Property, plant and equipment | 3,275,577 | 3,107,653 | |
Investment properties | 33,142 | 11,147 | |
Prepaid land lease payments | 1,030,566 | 834,982 | |
Goodwill | 392,485 | 392,485 | |
Other intangible assets | 131,156 | 138,872 | |
Investments in associates | 299,309 | 320,148 | |
Available-for-sale investments | 1,401,396 | 1,290,889 | |
Long-term prepayments | 338,189 | 214,704 | |
Deferred tax assets | 712,295 | 621,480 | |
Other non-current assets | 37,515 | 77,345 | |
Total non-current assets | 7,651,630 | 7,009,705 | |
CURRENT ASSETS Inventories | 5,183,399 | 4,399,479 | |
Trade and bills receivables | 10 | 5,699,335 | 4,971,124 |
Prepayments, deposits and other receivables | 4,486,618 | 3,363,463 | |
Due from a fellow subsidiary | - | 27,000 | |
Other financial assets | 460,449 | 250,078 | |
Pledged deposits | 71,272 | 31,989 | |
Cash and cash equivalents | 12,596,271 | 10,244,492 | |
Total current assets | 28,497,344 | 23,287,625 | |
CURRENT LIABILITIES Trade and bills payables | 11 | 4,583,217 | 4,089,689 |
Other payables and accruals | 10,224,829 | 7,644,594 | |
Interest-bearing borrowings | 73,000 | 86,400 | |
Finance lease payables | 9,338 | 10,877 | |
Due to a non-controlling shareholder | 27,883 | 26,083 | |
Tax payable | 613,045 | 561,730 | |
Provisions | 545,717 | 520,309 | |
Put option liabilities | 15,700 | 51,621 | |
Share-based payment liabilities Convertible and exchangeable bonds | - 1,223,220 | 10,400 - | |
Total current liabilities | 17,315,949 | 13,001,703 | |
NET CURRENT ASSETS | 11,181,395 | 10,285,922 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 18,833,025 | 17,295,627 |
Haier Electronics Group Co. Ltd. published this content on 22 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 March 2017 10:14:06 UTC.
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