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SUN ART RETAIL GROUP LIMITED

高鑫零售有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 06808) FINANcIAL RESULTS ANNOUNcEMENT FOR ThE YEAR ENDED 31 DEcEMbER 2016

The board (the "board") of directors (the "Directors") of Sun Art Retail Group Limited (the "company", together with its subsidiaries, the "Group") is pleased to announce the audited consolidated results of the Group for the year ended 31 December 2016, together with the comparative figures for the year ended 31 December 2015, which have been prepared in accordance with Hong Kong Financial Reporting Standards ("hKFRSs") as below.

hIGhLIGhTS OF ANNUAL RESULTS For the year ended 31 December 2016 2015 change

RMB million

Revenue

100,441

96,414

4.2%

Gross Profit

23,981

22,463

6.8%

Profit from Operations

3,936

3,575

10.1%

Profit for the Year

2,629

2,464

6.7%

Profit Attributable to

Equity Shareholders of the Company

2,571

2,443

5.2%

Earnings Per Share ("EPS")

- Basic and diluted (1) RMb0.27 RMB0.26

As at 31 December 2016 2015 change

RMB million

Total Assets

60,341

55,509

8.7%

Total Liabilities

37,532

33,882

10.8%

Net Assets

22,809

21,627

5.5%

Net Financial Position (2)

8,110

5,978

35.7%

Current Ratio (3)

0.72

0.67

Notes:

  1. The calculation of basic and diluted EPS for the years ended 31 December 2016 and 2015 is based on the weighted average number of 9,539,704,700 ordinary shares in issue during the year.

  2. The balance of net financial position is calculated as the sum of cash and cash equivalents and time deposits minus bank loans.

  3. Current Ratio = Current Assets/Current Liabilities

cONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OThER cOMPREhENSIVE INcOME

For the year ended 31 December 2016

Note

Year ended 31 December

2016 2015

RMB million RMB million

Revenue 5

100,441 96,414

Cost of sales

(76,460) (73,951)

Gross profit

23,981 22,463

Other income 6

873 747

Operating costs

(18,042) (17,002)

Administrative expenses

(2,876) (2,633)

Profit from operations

3,936 3,575

Finance costs 7(a)

(23) (20)

Share of results of an associate and a joint venture

(4) (3)

Profit before taxation 7

3,909 3,552

Income tax 8(a)

(1,280) (1,088)

Profit for the year

2,629 2,464

Other comprehensive income for the year

Items that will not be reclassified to profit or loss:

Changes in fair value of long-term other financial

liabilities 58 19

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translation of financial

statements of entities outside the

People's Republic of China

-

2

Total comprehensive income for the year

2,687

2,485

Profit attributable to:

Equity shareholders of the Company

2,571

2,443

Non-controlling interests

58

21

Profit for the year

2,629

2,464

Total comprehensive income attributable to:

Equity shareholders of the Company

2,629

2,463

Non-controlling interests

58

22

Total comprehensive income for the year

2,687

2,485

Earnings per share

Basic and diluted

9

RMb0.27

RMB0.26

cONSOLIDATED STATEMENT OF FINANcIAL POSITION

At 31 December 2016

At 31 December 2016 2015

Non-current assets

Note

RMB million

RMB million

Investment properties

3,615

3,516

Other property, plant and equipment

22,820

22,902

Land use rights

5,740

5,278

32,175

31,696

Intangible assets

77

64

Goodwill

181

181

Equity-accounted investees

15

19

Unquoted available-for-sale equity security

4

4

Trade and other receivables

12

397

527

Deferred tax assets

395

374

33,244

32,865

current assets

Inventories

11

15,409

12,646

Trade and other receivables

12

3,552

3,380

Time deposits

13

36

36

Cash and cash equivalents

14

8,100

6,582

27,097

22,644

current liabilities

Trade and other payables

15

36,807

32,626

Bank loans

16

23

638

Income tax payables

638

491

37,468

33,755

Net current liabilities

(10,371)

(11,111)

Total assets less current liabilities

22,873

21,754

cONSOLIDATED STATEMENT OF FINANcIAL POSITION

At 31 December 2016

At 31 December 2016 2015

Non-current liabilities

Note

RMB million

RMB million

Bank loans

16

3

2

Other financial liabilities

50

114

Deferred tax liabilities

11

11

64

127

Net assets

22,809

21,627

capital and reserves

Share capital

10,020

10,020

Reserves

11,765

10,726

Total equity attributable to

equity shareholders of the company

21,785

20,746

Non-controlling interests

1,024

881

Total equity

22,809

21,627

Sun Art Retail Group Limited published this content on 19 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 February 2017 11:23:10 UTC.

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