REAL NUTRICEUTICAL GROUP LIMITED 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.
REAL NUTRICEUTICAL GROUP LIMITED 瑞 年 國 際 有 限 公 司(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2010) FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED DECEMBER 31, 2016 HIGHLIGHTSRevenue decreased by 44.4% to RMB1,140.9 million.
Loss for the year attributable to owners of the Company was RMB65.4 million.
Basic loss per share was RMB4.1 cents.
The board (the "Board") of directors (the "Directors") of Real Nutriceutical Group Limited (the "Company") announces its audited consolidated final results of the Company and its subsidiaries (collectively the "Group") for the year ended December 31, 2016 (the "Year") together with the comparative figures for the corresponding period in 2015 as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the year ended December 31, 2016
2016 | 2015 | |||
NOTES | RMB'000 | RMB'000 | ||
Revenue | 3 | 1,140,904 | 2,051,263 | |
Cost of goods sold | (500,378) | (710,513) | ||
Gross profit | 640,526 | 1,340,750 | ||
Other income | 4 | 52,869 | 74,709 | |
Other gains and losses | 5 | 4,555 | (48,172) | |
Selling and distribution costs | (482,464) | (541,550) | ||
Administrative expenses | (164,050) | (158,632) | ||
Research and development costs | (17,000) | - | ||
Finance costs | 6 | (35,962) | (53,967) | |
(Loss)/Profit before taxation | 7 | (1,526) | 613,138 | |
Taxation | 8 | (58,250) | (205,566) | |
(Loss)/Profit for the year | (59,776) | 407,572 | ||
Other comprehensive (expense) income for the year | ||||
- exchange differences arising on translation of foreign operations which may be subsequently reclassified to profit or loss | (3,064) | (1,967) | ||
Total comprehensive income for the year | (62,840) | 405,605 | ||
(Loss)/Profit for the year attributable to: | ||||
Owners of the Company | (65,376) | 401,085 | ||
Non-controlling interests | 5,600 | 6,487 | ||
(59,776) | 407,572 | |||
Total comprehensive (expenses) income for the year attributable to: | ||||
Owners of the Company | (68,440) | 399,118 | ||
Non-controlling interests | 5,600 | 6,487 | ||
(62,840) | 405,605 | |||
(Loss)/Earnings per share | 10 | |||
- Basic | (4.1) cents | 28.2 cents | ||
- Diluted | (4.1) cents | 27.8 cents | ||
At December 31, 2016
2016 | 2015 | |||
NOTES | RMB'000 | RMB'000 | ||
Non-current assets | ||||
Property, plant and equipment | 2,191,501 | 2,209,210 | ||
Land use rights | 356,007 | 364,229 | ||
Goodwill | 113,650 | 113,650 | ||
Intangible assets | 371,362 | 327,104 | ||
Deposits made on acquisition of property, plant and equipment | 177,173 | 107,087 | ||
Advance payments for acquisition of technical knowhow | 92,216 | 103,965 | ||
3,301,909 | 3,225,245 | |||
Current assets | ||||
Inventories | 99,975 | 75,973 | ||
Trade and other receivables | 11 | 742,367 | 887,637 | |
Bank balances and cash | 2,554,938 | 2,477,308 | ||
3,397,280 | 3,440,918 | |||
Current liabilities | ||||
Trade and other payables | 12 | 199,456 | 285,736 | |
Taxation | 15,152 | 39,014 | ||
Short-term bank loans | 772,041 | 492,000 | ||
986,649 | 816,750 | |||
Net current assets | 2,410,631 | 2,624,168 | ||
Total assets less current liabilities | 5,712,540 | 5,849,413 | ||
Non-current liabilities | ||||
Deferred tax liabilities | 75,040 | 88,167 | ||
Net assets | 5,637,500 | 5,761,246 | ||
Capital and reserves | ||||
Share capital | 13,772 | 13,841 | ||
Reserves | 5,432,663 | 5,561,940 | ||
Equity attributable to owners of the Company | 5,446,435 | 5,575,781 | ||
Non-controlling interests | 191,065 | 185,465 | ||
Total equity | 5,637,500 | 5,761,246 | ||
For the year ended December 31, 2016
GENERAL
The Company was incorporated in the Cayman Islands and registered as an exempted company with limited liability. Its shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
The Company acts as an investment holding company while the Group is principally engaged in the manufacture and sale of health and nutritional supplements and pharmaceutical products. The address of the registered office of the Company and the address of the principal place of business are disclosed in the section headed "Corporate Information" in the annual report.
The consolidated financial statements are presented in Renminbi ("RMB"), which is the same as the functional currency of the Company.
APPLICATION OF NEW AND REVISED HONG KONG FINANCIAL REPORTING STANDARDS ("HKFRSs")
In the current year, the Company and its subsidiaries (collectively referred to as the "Group") have applied, for the first time, the following new and revised HKFRSs issued by the Hong Kong Institute of Certified Public Accountants, which are effective for the Group's financial year beginning on January 1, 2016:
HKFRS 9 | Financial Instruments2 |
HKFRS 15 | Revenue from Contracts with Customers2 |
HKFRS 16 | Leases3 |
Amendments to HKFRS 2 | Classification and Measurement of Share-based Payment Transactions2 |
Amendments to HKFRS 4 | Applying HKFRS 9 Financial Instruments with HKFRS 4 Insurance Contracts2 |
Amendments to HKFRS 10 and HKAS 28 | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture3 |
Amendments to HKAS 7 | Disclosure Initiative1 |
Amendments to HKAS 12 | Recognition of Deferred Tax Assets for Unrealised Losses1 |
1 Effective for annual periods beginning on or after January 1, 2017, with earlier application permitted.
2 Effective for annual periods beginning on or after January 1, 2018, with earlier application permitted.
3 Effective for annual periods beginning on or after January 1, 2019, with earlier application permitted.
4 Effective for annual periods beginning on or after a date to be determined.
The directors of the Company anticipate that the application of the new and revised HKFRSs will have no material impact on the results and the financial position of the Group.
Real Nutriceutical Group Limited published this content on 30 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 March 2017 15:09:18 UTC.
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