TA YANG GROUP HOLDINGS LIMITED 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.
TA YANG GROUP HOLDINGS LIMITED大 洋 集 團 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 1991) PRELIMINARY ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 JULY 2016 FINAL RESULTSThe Board of Directors (the "Board") of Ta Yang Group Holdings Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 July 2016, together with the audited comparative figures for the year ended 31 July 2015 as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFOR THE YEAR ENDED 31 JULY 2016
2016 | 2015 | |||
Notes | HK$'000 | HK$'000 | ||
Revenue | 3 | 386,516 | 426,242 | |
Cost of sales | (317,802) | (376,124) | ||
Gross profit | 68,714 | 50,118 | ||
Other operating income | 3 | 19,500 | 15,528 | |
Selling and distribution expenses | (27,869) | (44,807) | ||
Administrative expenses | (104,660) | (103,930) | ||
Other expenses | 5 | (27,495) | (75,700) | |
Share of results of joint ventures | - | 629 | ||
Share of results of associates | (507) | (468) | ||
Finance costs | 6 | (701) | (729) | |
Loss before tax | (73,018) | (159,359) | ||
Income tax credit (expense) | 7 | 768 | (23) | |
Loss for the year | 8 | (72,250) | (159,382) | |
Loss for the year attributable to: | ||||
Owners of the Company | (71,304) | (156,335) | ||
Non-controlling interests | (946) | (3,047) | ||
(72,250) | (159,382) | |||
Loss per share | 10 | |||
Basic (HK cents) | (9.12) | (20.08) | ||
Diluted (HK cents) | (9.12) | (20.08) | ||
FOR THE YEAR ENDED 31 JULY 2016
2016 | 2015 | ||
HK$'000 | HK$'000 | ||
Loss for the year | (72,250) | (159,382) | |
Other comprehensive income | |||
Items that will not be reclassified subsequently to profit or loss: | |||
Gain on revaluation of properties | 9,325 | 7,684 | |
Gain on revaluation of prepaid lease payments | 8,290 | 1,565 | |
17,615 | 9,249 | ||
Items that may be reclassified subsequently to profit or loss: | |||
Release of exchange reserves upon deregistration of subsidiaries | (2,846) | - | |
Release of exchange reserves upon disposal of subsidiaries | 59 | - | |
Exchange differences arising on translating foreign operations | (19,989) | (482) | |
(22,776) | (482) | ||
Available-for-sale financial assets | |||
Net gain (loss) arising on revaluation of available-for-sale financial assets for the year | 4,943 | (5,402) | |
Reclassification adjustments for impairment loss included in the consolidated statement of profit or loss | 667 | 3,458 | |
5,610 | (1,944) | ||
Share of other comprehensive expenses of associates and joint ventures | |||
Share of exchange difference of associates | (95) | (71) | |
Share of exchange difference of a joint venture | - | (629) | |
(95) | (700) | ||
Other comprehensive income for the year | 354 | 6,123 | |
Total comprehensive expense for the year, net of income tax | (71,896) | (153,259) | |
Total comprehensive expense for the year, net of income tax, attributable to | |||
Owners of the Company | (70,949) | (150,231) | |
Non-controlling interests | (947) | (3,028) | |
(71,896) | (153,259) | ||
AS AT 31 JULY 2016
2016 | 2015 | |||
Notes | HK$'000 | HK$'000 | ||
Non-current assets | ||||
Property, plant and equipment | 68,927 | 100,085 | ||
Intangible assets | - | - | ||
Construction in progress | - | - | ||
Prepaid lease payments | 7,107 | 10,840 | ||
Investment properties | 89,935 | 54,647 | ||
Available-for-sale financial assets | 24,539 | 19,596 | ||
Interest in a joint venture | - | - | ||
Interests in associates | 2,916 | - | ||
Deposits for acquisition of land use rights | 12,066 | 13,163 | ||
205,490 | 198,331 | |||
Current assets | ||||
Deposits for acquisition of properties | 41,469 | - | ||
Inventories | 29,809 | 62,172 | ||
Trade and other receivables | 11 | 111,014 | 150,930 | |
Prepaid lease payments | 232 | 321 | ||
Amount due from an associate | 65 | - | ||
Income tax recoverable | 4 | - | ||
Held-to-maturity investments | - | 43,442 | ||
Held-for-trading investments | 3,668 | 9,120 | ||
Structured deposits with banks | 17,261 | - | ||
Short-term bank deposits | 4,640 | 86,298 | ||
Bank balances and cash | 154,094 | 103,556 | ||
362,256 | 455,839 | |||
Current liabilities | ||||
Trade and other payables | 12 | 77,780 | 97,612 | |
Derivative financial instruments | 11,753 | 17,017 | ||
Amount due to a joint venture | - | 202 | ||
Amount due to an associate | 538 | - | ||
Provision for restructuring | - | - | ||
Income tax payable | 20,747 | 22,376 | ||
Secured bank borrowings | 33,282 | 33,282 | ||
144,100 | 170,489 | |||
Net current assets | 218,156 | 285,350 | ||
Total assets less current liabilities | 423,646 | 483,681 | ||
2016 | 2015 | ||
HK$'000 | HK$'000 | ||
Capital and reserves | |||
Share capital | 78,473 | 77,892 | |
Reserves | 332,036 | 397,769 | |
Equity attributable to owners of the Company | 410,509 | 475,661 | |
Non-controlling interests | 653 | - | |
Total equity | 411,162 | 475,661 | |
Non-current liabilities | |||
Deferred income | 3,668 | 3,946 | |
Deferred tax liabilities | 8,816 | 4,074 | |
12,484 | 8,020 | ||
423,646 | 483,681 | ||
TA Yang Group Holdings Limited published this content on 21 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 October 2016 04:13:07 UTC.
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