HANERGY THIN FILM POWER GROUP 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.
HANERGY THIN FILM POWER GROUP LIMITED漢 能 薄 膜 發 電 集 團 有 限 公 司
(Incorporated in Bermuda with limited liability)
(Stock Code: 566) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 UNAUDITED INTERIM RESULTSThe board of directors (the "Board") of Hanergy Thin Film Power Group Limited (the "Company") announces the unaudited interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017, together with the unaudited comparative figures for the corresponding period in 2016 and selected explanatory notes are as follows:
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor THE SIx monTHS EndEd 30 JunE 2017
Six months ended 30 June 2017 2016notes HK$'000 HK$'000
(Unaudited) (Unaudited)REVENUE | 4 | 2,853,914 | 3,296,461 | |
Cost of sales | (1,761,407) | (1,231,031) | ||
Gross profit | 1,092,507 | 2,065,430 | ||
Other income and gains | 79,474 | 150,665 | ||
Selling and distribution expenses | (156,986) | (117,258) | ||
Administrative expenses | (474,807) | (553,569) | ||
Research and development costs | (248,263) | (307,933) | ||
Loss on disposal of a subsidiary | 15 | (581) | - | |
Other expenses | (14,331) | (29,035) | ||
Finance costs | (30,104) | (24,707) | ||
PROFIT BEFORE TAX | 5 | 246,909 | 1,183,593 | |
Income tax expense | 6 | (2,112) | (362,758) | |
PROFIT FOR THE PERIOD | 244,797 | 820,835 | ||
2017 | 2016 | |
notes | HK$'000 | HK$'000 |
(Unaudited) | (Unaudited) |
Exchange differences on translation of foreign operations | 208,148 | (133,472) |
OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD, NET OF TAX | 208,148 | (133,472) |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 452,945 | 687,363 |
Profit for the period attributable to: Owners of the parent | 244,812 | 820,841 |
Non-controlling interests | (15) | (6) |
244,797 | 820,835 | |
Total comprehensive income for the period attributable to: | ||
Owners of the parent | 452,960 | 687,369 |
Non-controlling interests | (15) | (6) |
452,945 | 687,363 | |
HK Cents (Unaudited) | HK Cents (Unaudited) | |
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS |
Basic | 7 | 0.58 | 1.97 |
Diluted | 7 | 0.57 | 1.83 |
AS AT 30 JunE 2017
notes | 30 June 2017 HK$'000 (Unaudited) | 31 December 2016 HK$'000 (Audited) | |
NON-CURRENT ASSETS Property, plant and equipment | 619,168 | 606,111 | |
Intangible assets Deposits paid for the acquisition of items of property, plant and equipment | 12,531 29 | 12,685 28 | |
Restricted cash | - | 1,878 | |
Other non-current assets | 73,377 | 137,685 | |
Total non-current assets | 705,105 | 758,387 | |
CURRENT ASSETS Inventories | 1,406,170 | 1,648,717 | |
Trade receivables | 8 | 6,344,674 | 6,813,364 |
Tax recoverable | 2,664 | 2,571 | |
Gross amount due from contract customers | 9 | 2,260,697 | 1,547,405 |
Other receivables | 10 | 1,085,438 | 703,550 |
Bills receivable | 38,525 | 11,850 | |
Deposits and prepayments | 11 | 1,457,178 | 1,391,403 |
Restricted cash | 18,975 | 36,179 | |
Cash and cash equivalents | 2,521,289 | 248,674 | |
15,135,610 | 12,403,713 | ||
Assets of a disposal group classified as held for sale | 15 | - | 32,225 |
Total current assets | 15,135,610 | 12,435,938 |
notes | 30 June 2017 HK$'000 (Unaudited) | 31 December 2016 HK$'000 (Audited) | |
CURRENT LIABILITIES Trade and bills payables | 12 | 1,654,524 | 1,295,630 |
Other payables and accruals | 13 | 3,850,147 | 2,108,503 |
Interest-bearing bank and other borrowings | 560,098 | 465,880 | |
Tax payable | 901,741 | 927,593 | |
Deferred income | 39,922 | 51,610 | |
7,006,432 | 4,849,216 | ||
Liabilities directly associated with the assets classified as held for sale | 15 | - | 13,850 |
Total current liabilities | 7,006,432 | 4,863,066 | |
NET CURRENT ASSETS | 8,129,178 | 7,572,872 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 8,834,283 | 8,331,259 | |
NON-CURRENT LIABILITIES Deferred tax liabilities | 401,220 | 401,220 | |
Interest-bearing bank and other borrowings | 624,138 | 584,755 | |
Other non-current liabilities | 2,258 | 4,262 | |
Total non-current liabilities | 1,027,616 | 990,237 | |
Net assets | 7,806,667 | 7,341,022 | |
EQUITY Equity attributable to the owners of the parent Issued capital | 14 | 104,647 | 104,647 |
Reserves | 7,701,432 | 7,235,772 | |
7,806,079 | 7,340,419 | ||
Non-controlling interests | 588 | 603 | |
Total equity | 7,806,667 | 7,341,022 |
Hanergy Thin Film Power Group Ltd. published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 August 2017 08:17:05 UTC.
Original documenthttp://www.hanergythinfilmpower.com/images/170825-interim-rresults-2017.pdf
Public permalinkhttp://www.publicnow.com/view/BCB346FBCB0E945B8C92A1CE2D294CBEDEA6FA0C
