SHANDONG WEIGAO GROUP MEDICAL POLYMER COMPANY 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.
山 東 威 高 集 團 醫 用 高 分 子 製 品 股 份 有 限 公 司 Shandong Weigao Group Medical Polymer Company Limited *(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1066)
ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 SUMMARYFor the year ended 31 December 2016 (the "Year"), the turnover of Shandong Weigao Group Medical Polymer Company Limited (the "Company" and together with its subsidiaries, the "Group") was approximately RMB6,730,340,000 (2015: RMB5,918,930,000), representing an increase of 13.7% over the previous year. Net profit attributable to the owners of the Company (excluding extraordinary items) was approximately RMB1,308,964,000 (2015: net profit attributable to the owners of the Company (excluding extraordinary items) of approximately RMB1,112,736,000), representing an increase of approximately 17.6% over the previous year.
During the Year, the performance of the Group in three business segments was as follows:
turnover of single use consumables of the Group reached approximately RMB4,833,340,000 for the year ended 31 December 2016, representing an increase of 11.5% when compared with the previous year;
turnover of orthopaedic products of the Group for the year ended 31 December 2016 was approximately RMB803,498,000, representing an increase of 22.2% when compared with the previous year;
* For identification purpose only
(3) turnover of blood purification consumables and equipment for the Year was approximately RMB1,093,502,000, representing an increase of 18.3% when compared with the previous year. Profit attributable to the Group from Weigao Nikkiso (Weihai) Dialysis Equipment Co., Ltd. ("Weigao Nikkiso"), which is 51% held by the Group, amounted to approximately RMB3,292,000 (2015: attributable loss of approximately RMB2,073,000). The Group holds 50% equity interest in Weigao Terumo (Weihai) Medical Products Co., Ltd. ("Weigao Terumo"). The operation of Weigao Terumo is still at its preparation stage. During the Year, loss attributable to the Group was approximately RMB2,828,000 (2015: attributable loss of approximately RMB1,885,000).
The Directors recommended the payment of a final dividend of RMB0.046 per share (2015: RMB0.036), which is subject to the approval by the shareholders of the Company ("Shareholders") at the forthcoming general meeting.
COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016 | ||||
2016 | 2015 | |||
NOTES | RMB'000 | RMB'000 | ||
Revenue | 6,730,340 | 5,918,930 | ||
Cost of sales | (2,593,772) | (2,403,372) | ||
Gross profit | 4,136,568 | 3,515,558 | ||
Other income, gains and losses | 107,390 | 96,238 | ||
Selling and distribution costs | (1,839,173) | (1,544,998) | ||
Administrative expenses | (731,462) | (393,316) | ||
Research and development expenses | (302,679) | (292,658) | ||
Finance costs | 4 | (56,762) | (44,497) | |
Share of profit (loss) of joint ventures | 464 | (3,958) | ||
Share of profit of an associate | - | 601 | ||
Gain on disposal of a subsidiary | - | 2,535 | ||
Profit before taxation | 1,314,346 | 1,335,505 | ||
Income tax expense | 5 | (176,754) | (186,647) | |
Profit for the year | 6 | 1,137,592 | 1,148,858 | |
Other comprehensive income | ||||
Items that may be reclassified subsequently to profit or loss: Exchange differences arising on translation of foreign operations - subsidiaries | 8,749 | 7,557 | ||
Total comprehensive income for the year | 1,146,341 | 1,156,415 | ||
FOR THE YEAR ENDED 31 DECEMBER 2016
2016 2015
NOTES RMB'000 RMB'000
Profit for the year attributable to:
Owners of the Company | 1,105,933 | 1,112,736 |
Non-controlling interests | 31,659 | 36,122 |
Total comprehensive income attributable to:
1,137,592 1,148,858
Owners of the Company | 1,114,682 | 1,120,293 |
Non-controlling interests | 31,659 | 36,122 |
1,146,341 1,156,415
Earnings per share
Basic (RMB yuan per share) 8 0.25 0.25
Diluted (RMB yuan per share) 0.25 0.25
Shandong Weigao Group Medical Polymer Co. Ltd. published this content on 22 March 2017 and is solely responsible for the information contained herein.
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