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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 2016The 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 changeRMB 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 changeRMB 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:
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.
The balance of net financial position is calculated as the sum of cash and cash equivalents and time deposits minus bank loans.
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 |
At 31 December 2016
At 31 December 2016 2015Non-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 |
At 31 December 2016
At 31 December 2016 2015Non-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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