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.
海航實業集團股份有限公司
HNA HOLDING GROUP CO. LIMITED(Incorporated in Hong Kong with limited liability)
(Stock Code: 521) OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT IN RELATION TO THE UNAUDITED FINANCIAL STATEMENT FOR THE THIRD QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2017 OF CWT LIMITEDThis announcement is made by HNA Holding Group Co. Limited (the "Company") pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules).
The Board of Directors of the Company hereby announces the unaudited financial statement (the "Financial Statement") of CWT Limited ("CWT") and its subsidiaries for the third quarter and nine months ended 30 September 2017 have been released to the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 14 November 2017. CWT is regarded as a subsidiary of the Company under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and the Listing Rules respectively. A copy of the Financial Statement made available by CWT is attached to this announcement.
The Financial Statement has been made available by CWT on the website of SGX-ST (www.sgx.com) and on the website of CWT (www.cwtlimited.com). Shareholders and potential investors of the Company should refer to the full text of the Financial Statement. The English text of the Financial Statement is the official text and accordingly the English text of such document shall prevail over any Chinese translation in the event of inconsistency. The Chinese translation is for reference only.
By order of the Board
HNA HOLDING GROUP CO. LIMITED Xu HaohaoExecutive Director
Hong Kong, 14 November 2017
As at the date of this announcement, the Board comprises Mr. Zhao Quan (Executive Director and Co-Chairman), Mr. Wang Shuang (Executive Director and Co-Chairman), Mr. Xu Haohao (Executive Director and President), Mr. Leung Shun Sang, Tony (Non-executive Director), Mr. Wang Hao (Non-executive Director), Mr. Mung Bun Man, Alan (Non-executive Director), Mr. Leung Kai Cheung (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non-executive Director) and Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director).
CWT LIMITED (Company Registration No.: 197000498M) Unaudited Financial Statement for the Third Quarter and Nine Months Ended 30/9/2017 PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF YEAR AND FULL YEAR RESULTS 1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year. 1(a)(i) CONSOLIDATED INCOME STATEMENTFor the three months and nine months ended 30 September
Three months ended 30 September Nine months ended 30 September2017 S$'000 | 2016 S$'000 | % Change | 2017 S$'000 | 2016 S$'000 | % Change | |
Revenue | 3,140,184 | 2,343,731 | 34 | 8,332,410 | 6,585,747 | 27 |
Cost of sales | (3,085,619) | (2,250,058) | 37 | (8,110,278) | (6,341,358) | 28 |
Gross profit | 54,565 | 93,673 | (42) | 222,132 | 244,389 | (9) |
Other income | 18,375 | 1,795 | N.M. | 22,175 | 8,193 | 171 |
Administrative expenses | (35,052) | (51,236) | (32) | (119,685) | (137,081) | (13) |
Other operating expenses | (635) | (3,957) | (84) | (6,398) | (10,360) | (38) |
Profit from operations | 37,253 | 40,275 | (8) | 118,224 | 105,141 | 12 |
Finance income | 3,199 | 4,429 | (28) | 40,011 | 16,215 | 147 |
Finance expenses | (14,065) | (17,176) | (18) | (39,065) | (46,360) | (16) |
Net finance (expenses)/income | (10,866) | (12,747) | (15) | 946 | (30,145) | N.M. |
Share of profit of joint ventures, net of tax | 1,033 | 1,370 | (25) | 3,177 | 4,029 | (21) |
Share of profit of associates, net of tax | 952 | 1,310 | (27) | 2,641 | 3,495 | (24) |
Profit before income tax | 28,372 | 30,208 | (6) | 124,988 | 82,520 | 51 |
Income tax expense | (6,853) | (7,039) | (3) | (21,450) | (19,282) | 11 |
Profit after taxation | 21,519 | 23,169 | (7) | 103,538 | 63,238 | 64 |
Attributable to: Owners of the Company | 20,646 | 22,630 | (9) | 100,807 | 59,973 | 68 |
Non-controlling interests | 873 | 539 | 62 | 2,731 | 3,265 | (16) |
Net profit attributable to shareholders | 21,519 | 23,169 | (7) | 103,538 | 63,238 | 64 |
For the three months and nine months ended 30 September
GROUP GROUP3Q 2017 S$'000 | 3Q 2016 S$'000 | +/(-) % | YTD Sep 2017 S$'000 | YTD Sep 2016 S$'000 | +/(-) % |
21,519 | 23,169 | (7) | 103,538 | 63,238 | 64 |
- | (3,132) | (100) | - | (3,132) | (100) |
- | 311 | (100) | - | 311 | (100) |
- | (2,821) | (100) | - | (2,821) | (100) |
Profit for the period
Other comprehensive income Items that will not be reclassified to profit or loss:Defined benefit plan remeasurements Tax on other comprehensive income
Items that are or may be reclassified subsequently to profit or loss:Foreign currency translation differences
relating to foreign operations (2,694) 6,919 N.M. (21,070) (22,599) (7)
Foreign currency translation differences reclassified to profit or loss on
liquidation of subsidiaries - - N.M. 569 - N.M.
Net changes in fair value of
available-for-sale financial assets (1,609) 2,345 N.M. 21,095 2,499 N.M.
Net changes in fair value of available-for-sale financial assets reclassified to profit or loss upon
disposal 3 - N.M. (23,049) - N.M.
Effective portion of changes in fair value
of cash flow hedges | - | 126 | (100) | 229 | 313 | (27) |
Share of other comprehensive income | ||||||
of associates and joint ventures | (106) | 205 | N.M. | (2,928) | (2,591) | 13 |
Tax on other comprehensive income | - | (266) | (100) | 720 | (519) | N.M. |
Owners of the Company | 16,186 | 28,332 | (43) | 76,527 | 34,718 | 120 |
Non-controlling interests | 927 | 1,345 | (31) | 2,577 | 2,802 | (8) |
Company | Company | ||||
3Q 2017 | 3Q 2016 | +/(-) | YTD Sep 2017 | YTD Sep 2016 | +/(-) |
S$'000 | S$'000 | % | S$'000 | S$'000 | % |
143,524 | 1,123 | N.M. | 147,850 | 52,565 | 181 |
(1,609) | 1,295 | N.M. | 2,276 | (556) | N.M. |
3 | - | N.M. | 3 | - | N.M. |
(1,606) | 1,295 | N.M. | 2,279 | (556) | N.M. |
141,918 | 2,418 | N.M. | 150,129 | 52,009 | 189 |
Profit for the period
Other comprehensive income Items that are or may be reclassified subsequently to profit or loss:Net changes in fair value of available-for-sale financial assets
Net changes in fair value of available-for-sale financial assets reclassified to profit or loss upon disposal
Other comprehensive income for the period, net of income tax Total comprehensive income for the periodHNA Holding Group Co. Ltd. published this content on 14 November 2017 and is solely responsible for the information contained herein.
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