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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00604) 2016 FINAL RESULTS ANNOUNCEMENT FINANCIAL HIGHLIGHTS
  • During the year, the Group achieved a revenue of HK$21,354.0 million, representing an increase of 15.9% over the same period of last year; the profit for the year attributable to the shareholders was HK$3,170.6 million, representing an increase of 10.5% over the same period of last year. If excluding the net effects on the changes in fair value of investment properties attributable to the Group, gain on a bargain purchase, provision for litigation and provision of land projects in third- and fourth-tier cities, net profit attributable to the shareholders was HK$2,614.9 million, representing an increase of 21.1% over the same period of last year.

  • The overall gross profit margin was 38.7%, representing an increase of 4.1 percentage points over the same period of last year; in which, the gross profit margin of sales on property development was 41.3%, representing an increase of 4.4 percentage points over the same period of last year.

  • During the year, the Group achieved contracted sales of RMB19.1 billion, representing an increase of 20% over the same period of last year.

  • As of 31 December 2016, the cash and bank balance (including restricted cash) was HK$12,063.7 million, and the net gearing ratio (including all interest-bearing liabilities) was 38.9%.

  • The Board recommends the payment of a final dividend of HK10.00 cents per share for year 2016. To celebrate the 20th anniversary of the Company's listing on Hong Kong Stock Exchange and to appreciate the long-term support of the shareholders, the Board also recommends the payment of a special dividend of HK5.00 cents per share. Together with the interim dividend of HK7.00 cents per share already paid, the total dividend for the whole year will amount to HK22.0 cents per share.

The board of directors (the "Board") of Shenzhen Investment Limited (the "Company") is pleased to present the audited consolidated results of the Company and its subsidiaries (the "Group") for

the year ended 31 December 2016 together with the comparative figures for the

December 2015 as follows:

year ended 31

CONSOLIdATEd STATEMENT OF pROFIT OR LOSS

for the year ended 31 December 2016

2016

Notes HK$'000

2015

HK$'000

Revenue 4 21,353,993

18,428,172

Cost of sales (13,083,234)

(12,053,688)

Gross profit 8,270,759

6,374,484

Other income and gains 4 832,342

Increase in fair value of equity investments at

fair value through profit or loss, net 870

615,289

580

Increase in fair value of investment properties 1,204,139

Recognition of change in fair value of completed properties held for sale/properties under

development upon transfer to investment

properties 654,516

1,082,176

432,102

Selling and distribution expenses (362,224)

(483,087)

Administrative expenses (956,298)

(867,298)

Other operating expenses (1,656,121)

(542,978)

Finance costs 5 (838,167)

Share of profits less losses of joint ventures and

associates 1,142,976

(708,484)

607,845

Profit before taxation 6 8,292,792

6,510,629

Income tax expense 7 (4,821,911)

(3,423,377)

Profit for the year 3,470,881

3,087,252

Attributable to:

Equity shareholders of the Company 3,170,581

2,868,796

Non-controlling interests 300,300

218,456

3,470,881

3,087,252

Earnings per share 8

Basic HK42.36 cents

HK40.56 cents

Diluted HK42.35 cents

HK40.56 cents

CONSOLIdATEd STATEMENT OF pROFIT OR LOSS ANd OTHER COMpREHENSIvE INCOME

for the year ended 31 December 2016

2016 2015

HK$'000 HK$'000

Profit for the year 3,470,881 3,087,252

Other comprehensive income for the year

Items that may be reclassified subsequently to profit or loss:

Available-for-sale investments:

- Changes in fair value

(10,785)

(6,261)

- Income tax effect

2,696

1,565

(8,089)

(4,696)

Share of other comprehensive income of joint ventures and associates

(235,432)

(175,080)

Exchange differences on translation of foreign

operations (2,918,015) (1,767,065)

(3,161,536) (1,946,841)

Items that will not be reclassified to profit and loss:

Share of other comprehensive income of joint

ventures and associates - (72)

- (72)

Other comprehensive income for the year, net of tax

(3,161,536) (1,946,913)

Total comprehensive income for the year

309,345 1,140,339

Attributable to:

Equity shareholders of the Company

170,542 1,038,058

Non-controlling interests

138,803 102,281

309,345 1,140,339

CONSOLIdATEd STATEMENT OF FINANCIAL pOSITION

Notes

31 december

2016

HK$'000

31 December

2015

HK$'000

Non-current assets

Property, plant and equipment

3,844,311

4,144,176

Prepaid land lease payments

36,083

40,355

Goodwill

322,240

322,542

Investment properties

22,807,211

20,908,173

Interests in associates

3,994,821

3,838,027

Interests in joint ventures

3,300,931

3,037,310

Available-for-sale investments

112,985

123,684

Other long term assets

3,188,483

1,778,889

Breeding biological assets

-

7,075

Deferred tax assets

1,954,441

1,386,915

Total non-current assets

39,561,506

35,587,146

Current assets

Trading biological assets

8,136

9,576

Completed properties held for sale

7,514,657

9,031,517

Properties under development

35,292,229

30,311,525

Inventories

93,354

98,803

Trade receivables

10

322,506

528,154

Prepayments, deposits and other receivables

Equity investments at fair value through profit or loss

1,684,928

4,566

1,696,026

3,696

Restricted cash

2,204,157

4,110,729

Cash and cash equivalents

9,859,526

9,708,046

Total current assets

56,984,059

55,498,072

Shenzhen Investment Limited published this content on 27 March 2017 and is solely responsible for the information contained herein.
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