Q TECHNOLOGY (GROUP) COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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.
Q TECHNOLOGY (GROUP) COMPANY LIMITED丘鈦科技（集團）有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1478) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 HIGHLIGHTS•
Unaudited revenue from sales of the Group for the six months ended 30 June 2017
amounted to approximately RMB3,604,998,000, representing an increase of approximately 108.7% as compared with the corresponding period in the year of 2016 (the "Corresponding Period"). The increase in revenue was mainly attributable to the significant increase in sales volume of the Group's fingerprint recognition modules products as compared with the Corresponding Period and the obvious improvement achieved in the average unit selling price of camera modules products as compared with the Corresponding Period.
•
Gross profit for the six months ended 30 June 2017 was approximately RMB434,428,000,
while gross profit margin was approximately 12.1%, representing an increase of approximately 2.8 percentage points as compared with the Corresponding Period.
•
The profit of the Group for the six months ended 30 June 2017 was approximately
RMB201,784,000, representing an increase of approximately 145.5% as compared with the Corresponding Period.
•
Basic and diluted earnings per share for the six months ended 30 June 2017 were
approximately RMB0.184 and RMB0.182 respectively.
FINANCIAL RESULTSThe board of directors (the "Board") of Q Technology (Group) Company Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017 together with the relevant comparative figures as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six months ended 30 June 2017 - unaudited (Expressed in Renminbi)
Six months ended 30 June 2017 2016Note RMB'000 RMB'000
Revenue 33,604,998 1,727,031Cost of sales (3,170,570) (1,565,666)
Gross profit | 434,428 | 161,365 | |
Other income | 4 | 7,797 | 6,014 |
Other net loss | 4 | (18,769) | (8,061) |
Selling and distribution expenses | (6,508) | (3,456) | |
Administrative and other operating expenses | (50,552) | (12,316) | |
Research and development expenses | (122,555) | (52,060) | |
Profit from operations | 243,841 | 91,486 | |
Finance costs | 5(a) | (4,323) | (1,398) |
Profit before taxation | 5 | 239,518 | 90,088 |
Income tax | 6 | (37,734) | (7,894) |
Profit for the period | 201,784 | 82,194 | |
Attributable to: | |||
Equity shareholders of the company | 201,784 | 82,194 | |
Profit for the period | 201,784 | 82,194 | |
RMB Cents | RMB Cents | ||
Earnings per share | |||
Basic | 7 | 18.4 | 8.0 |
Diluted | 7 | 18.2 | 7.9 |
For the six months ended 30 June 2017 - unaudited (Expressed in Renminbi)
Six months ended 30 June 2017 2016Note RMB'000 RMB'000
Profit for the period 201,784 82,194 Other comprehensive income for the period (after tax and reclassification adjustments):Items that may be reclassified subsequently to profit or loss:
- Exchange differences on translation of the
financial statements of subsidiaries outside the Mainland China | (6,608) | 2,086 |
Other comprehensive income for the period | (6,608) | 2,086 |
Total comprehensive income for the period | 195,176 | 84,280 |
Attributable to: Equity shareholders of the company | 195,176 | 84,280 |
Total comprehensive income for the period | 195,176 | 84,280 |
At 30 June 2017 - unaudited (Expressed in Renminbi)
At 30 June 2017 | At 31 December 2016 | ||
Note | RMB'000 | RMB'000 | |
Non-current assets | |||
Property, plant and equipment | 919,674 | 720,181 | |
Lease prepayments | 16,841 | 17,048 | |
Intangible assets | 1,234 | 1,315 | |
Deferred tax assets | 14,282 | 4,287 | |
Prepayment for acquisition of property, | |||
plant and equipment | 80,431 | 83,354 | |
1,032,462 | 826,185 | ||
Current assets | |||
Inventories | 670,010 | 799,246 | |
Trade and other receivables | 8 | 1,909,531 | 2,606,431 |
Other financial assets | 9 | 445,510 | - |
Derivative financial assets | 10 | 38,157 | 126,867 |
Current tax assets | 152 | 152 | |
Pledged bank deposits | 11 | 17,379 | 96,543 |
Cash and cash equivalents | 225,505 | 64,905 | |
3,306,244 | 3,694,144 | ||
Current liabilities | |||
Bank borrowings | 12 | 112,245 | 335,432 |
Trade and other payables | 13 | 2,431,547 | 2,592,781 |
Derivative financial liabilities | 10 | 17,396 | - |
Current tax payable | 27,992 | 10,372 | |
2,589,180 | 2,938,585 | ||
Net current assets | 717,064 | 755,559 | |
Total assets less current liabilities | 1,749,526 | 1,581,744 |
Q Technology (Group) Co. Ltd. published this content on 09 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 August 2017 07:41:05 UTC.
Original documenthttp://www.qtechglobal.com/static/2017-08/b6fe8be2442e4a93bf6dd8b879b9f161.pdf
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