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.

SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED

舜宇光學科 技（集團 ）有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 2382.HK) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 RESULT HIGHLIGHTS

The Group's unaudited consolidated revenue for the six months ended 30 June 2017 was approximately RMB10,031.7 million, representing an increase of approximately 69.8% as compared with the corresponding period of last year. The increase in revenue was mainly benefited from the Group's development in the smartphone related business and vehicle imaging field.

The gross profit for the six months ended 30 June 2017 was approximately RMB2,069.7 million, representing an increase of approximately 109.5% as compared with the corresponding period of last year. The gross profit margin for the six months ended 30 June 2017 was approximately 20.6%.

The net profit for the six months ended 30 June 2017 increased by approximately 149.7% to approximately RMB1,161.0 million as compared with the corresponding period of last year. The increase in net profit was mainly due to the increased gross profit and the effective control over operating expenses. The net profit margin for the six months ended 30 June 2017 was approximately 11.6%.

FINANCIAL RESULTS

The board (the "Board") of directors (the "Directors") of Sunny Optical Technology (Group) Company Limited (the "Company") presents the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period in the year 2016 as follows:

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the six months ended 30 June 2017

Six months ended 30 June

NOTES

2017

RMB'000

(unaudited)

2016

RMB'000

(unaudited)

Revenue

3

10,031,683

5,909,615

Cost of sales

(7,961,965)

(4,921,633)

Gross profit

2,069,718

987,982

Other income

4

65,250

43,577

Other gains and losses

5

112,069

24,078

Selling and distribution expenses

(104,686)

(63,612)

Research and development expenditure

(535,015)

(273,567)

Administrative expenses

(182,397)

(147,419)

Share of results of associates

(4,762)

(9,945)

Finance costs

(22,146)

(8,609)

Profit before tax

1,398,031

552,485

Income tax expense

6

(237,035)

(87,497)

Profit for the period

7

1,160,996

464,988

Other comprehensive income:

Items that may be reclassified subsequently to profit or loss:

Exchange differences arising on translation

of foreign operations

599

7,964

Total comprehensive income for the period

1,161,595

472,952

Profit for the period attributable to: Owners of the Company

1,159,246

465,274

Non-controlling interests

1,750

(286)

1,160,996

464,988

Total comprehensive income attributable to: Owners of the Company

1,159,499

469,347

Non-controlling interests

2,096

3,605

1,161,595

472,952

Earnings per share - Basic (RMB cents)

8

107.37

43.21

- Diluted (RMB cents)

8

106.68

42.82

Condensed Consolidated Statement of Financial Position

At 30 June 2017

NOTES

30 June

2017

RMB'000

(unaudited)

31 December

2016

RMB'000

(audited)

NON-CURRENT ASSETS

Property, plant and equipment 10(a)

1,947,784

1,793,510

Prepaid lease payments 10(c)

165,183

164,025

Investment properties 10(b)

14,578

14,997

Intangible assets 11

414,225

1

Interests in associates 14

38,566

99,781

Deferred tax assets

Deposits paid for acquisition of property,

plant and equipment 12

51,028

573,996

27,884

152,384

Available-for-sale investments 13

112,934

62,267

Deposits paid for acquisition of a land use right

3,823

3,823

Derivative financial assets 17

11,269

-

3,333,386

2,318,672

CURRENT ASSETS

Inventories 15

2,277,236

2,828,362

Trade and other receivables and prepayment 16

4,019,676

3,715,939

Prepaid lease payments 10(c)

4,521

4,452

Derivative financial assets 17

Financial assets designated as at fair value

through profit or loss 18

2,400

1,640,001

13,795

2,027,497

Amounts due from related parties 26(c)

560

682

Pledged bank deposits 19

276,331

100,967

Short term fixed deposits 19

74,352

159,245

Bank balances and cash 19

665,326

466,928

8,960,403

9,317,867

CURRENT LIABILITIES

Trade and other payables 20

4,388,017

5,572,542

Amounts due to related parties 26(c)

3,799

5,205

Derivative financial liabilities 17

6,945

93,251

Tax payable

109,787

53,009

Bank borrowings 21

1,456,595

904,348

Deferred income - current portion 27

29,463

29,973

5,994,606

6,658,328

NET CURRENT ASSETS

2,965,797

2,659,539

TOTAL ASSETS LESS CURRENT LIABILITIES

6,299,183

4,978,211

NOTES

30 June

2017

RMB'000

(unaudited)

31 December

2016

RMB'000

(audited)

NON-CURRENT LIABILITIES

Deferred tax liabilities

79,595

33,864

Derivative financial liabilities

17

23,890

-

Long term payables

20

434,832

2,817

Deferred income - non-current portion

27

26,789

28,188

565,106

64,869

NET ASSETS

5,734,077

4,913,342

CAPITAL AND RESERVES

Share capital

22

105,177

105,177

Reserves

5,608,717

4,790,078

Equity attributable to owners of the Company

5,713,894

4,895,255

Non-controlling interests

20,183

18,087

TOTAL EQUITY

5,734,077

4,913,342

Sunny Optical Technology (Group) Co. Ltd. published this content on 14 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 August 2017 10:31:07 UTC.

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