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.
SUN CENTURY GROUP LIMITED太陽世紀集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1383) 2016 ANNUAL RESULTS ANNOUNCEMENTThe board ("Board") of directors ("Directors") of Sun Century Group Limited (the "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 December 2016.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the year ended 31 December 2016 | |||
Notes | 2016 RMB'000 | 2015 RMB'000 | |
Turnover | 3 | 1,108,544 | 726,088 |
Cost of sales | (603,238) | (412,226) | |
Gross profit | 505,306 | 313,862 | |
Other net expenses | 4 | (78,319) | (66,806) |
Selling and distribution expenses | (79,075) | (50,762) | |
General and administrative expenses | (82,232) | (74,069) | |
Other operating expenses | (334,318) | (21,106) | |
Increase in fair value of investment properties (Impairment loss)/Reversal of impairment loss on inventories | 40,000 (21,557) | 95,000 13,367 | |
(Loss)/Profit from operations | (50,195) | 209,486 | |
Finance costs | (189,664) | (296,431) | |
Change in fair value of financial derivatives | 7,138 | - | |
Impairment loss recognised in respect of goodwill | (4,039) | - | |
Gain on disposal of subsidiaries | 1,145 | - | |
Loss before tax | (235,615) | (86,945) | |
Income tax expense | 5 | (254,893) | (158,987) |
Loss for the year | 6 | (490,508) | (245,932) |
Loss for the year attributable to: Owners of the Company | (490,386) | (245,007) | |
Non-controlling interests | (122) | (925) | |
(490,508) | (245,932) | ||
RMB cents | RMB cents (Restated) | ||
Loss per share Basic and diluted | 8 | (28.59) | (16.13) |
For the year ended 31 December 2016
2016 2015RMB'000 RMB'000
Loss for the year (490,508) (245,932) Other comprehensive expenseItem that may be reclassified subsequently to profit and loss:
Exchange differences on translating foreign operations (234) -
Total comprehensive loss for the year (490,742) (245,932) Total comprehensive loss for the year attributable to:Owners of the Company | (490,620) | (245,007) |
Non-controlling interests | (122) | (925) |
CONSOLIDATED STATEMENT OF FINANCIAL At 31 December 2016 | POSITION | ||
Notes | 2016 RMB'000 | 2015 RMB'000 | |
Non-current assets | |||
Property, plant and equipment | 2,643 | 2,843 | |
Investment properties | 1,732,000 | 1,692,000 | |
Deferred tax assets | 102 | 217 | |
1,734,745 | 1,695,060 | ||
Current assets | |||
Inventories | 813,540 | 1,324,477 | |
Trade and other receivables | 9 | 386,213 | 636,977 |
Pledged deposits | 1,634 | 2,666 | |
Bank balances and cash | 143,439 | 27,768 | |
1,344,826 | 1,991,888 | ||
Current liabilities | |||
Trade and other payables, and accruals | 10 | 378,171 | 452,562 |
Receipts in advance | 421,117 | 623,559 | |
Rental and other deposits | 9,238 | 10,200 | |
Bank and other borrowings - due within one year | 270,000 | 1,558,261 | |
Derivative component of convertible bonds | 59,613 | - | |
Current tax liabilities | 298,246 | 144,532 | |
1,436,385 | 2,789,114 | ||
Net current liabilities | (91,559) | (797,226) | |
Total assets less current liabilities | 1,643,186 | 897,834 | |
Non-current liabilities | |||
Bank and other borrowings - due after one year | 895,139 | 480,000 | |
Deferred tax liabilities | 355,602 | 341,393 | |
1,250,741 | 821,393 | ||
NET ASSETS | 392,445 | 76,441 | |
Capital and reserves | |||
Share capital | 524,712 | 123,644 | |
Reserves | (131,537) | (41,986) | |
Equity attributable to owners of the Company | 393,175 | 81,658 | |
Non-controlling interests | (730) | (5,217) | |
TOTAL EQUITY | 392,445 | 76,441 |
Sun Century Group Ltd. published this content on 24 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 March 2017 02:48:12 UTC.
Original documenthttp://www.sun1383.com/uploads/soft/170327/2_1040184331.pdf
Public permalinkhttp://www.publicnow.com/view/C83C5391A40F9D3ACBC31A71E80D8911932CF772