TONLY ELECTRONICS HOLDINGS LIMITED The 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.
TONLY ELECTRONICS HOLDINGS LIMITED 通力電子控股有限公司(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 01249)
RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTSUnaudited results for the six months ended 30 June
2017 (HK$M) | 2016 (HK$M) | Change | |
Turnover | 2,064.8 | 1,754.5 | 17.7% |
Gross profit | 308.9 | 259.4 | 19.1% |
Operating profit | 103.8 | 85.3 | 21.7% |
Profit for the period | 78.8 | 65.9 | 19.6% |
Profit attributable to owners of the parent | 78.9 | 65.9 | 19.7% |
Basic earnings per share (HK cents) | 32.22 | 26.91 | 19.7% |
For the six months ended 30 June 2017, the Group recorded turnover of approximately HK$2,064.8 million, up by 17.7% year-on-year. The sales revenue of audio products(1) reached approximately HK$1,489.5 million, representing an increase of 48.7% year-on-year. The sales revenue of video products(2) reached approximately HK$431.8 million, representing a decrease of 34.3% year-on-year. The sales revenue of smart ancillary products(3) rose by 5.8 times year-on-year to approximately HK$55.3 million.
Gross profit amounted to approximately HK$308.9 million, increased by 19.1% year-on-year. Operating profit reached approximately HK$103.8 million, increased by 21.7% year-on-year. Profit attributable to owners of the parent reached approximately HK$78.9 million, representing an increase of 19.7% year-on-year.
(1) Mainly include HTS and Micro & Mini, wireless speakers, soundbars, audio docks and headphones.
(2) Mainly include DVD players and BD players, OTT set top box (STB) and ABS-s receiver.
(3) Mainly include smart speaker, smart speaker key parts, smart security and smart gateway, etc.
The board of directors (the "Board") of Tonly Electronics Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results and financial position of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017 with comparative figures for the said period last year as follows and these condensed consolidated interim financial statements have not been audited, but have been reviewed by the Company's Audit Committee:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Six months ended 30 June 2017 2016TURNOVER | Notes 4 | HK$'000 2,064,807 | HK$'000 1,754,525 |
Cost of sales | (1,755,908) | (1,495,083) | |
Gross profit | 308,899 | 259,442 | |
Other income and gains, net | 34,667 | 38,968 | |
Selling and distribution costs | (56,347) | (48,938) | |
Administrative expenses | (96,560) | (71,165) | |
Research and development costs | (85,601) | (93,051) | |
Other operating expenses, net | (1,224) | - | |
103,834 | 85,256 | ||
Finance costs | 5 | (3,141) | (2,096) |
Share of profits of associates | 923 | 2,080 | |
PROFIT BEFORE TAX | 6 | 101,616 | 85,240 |
Income tax expense | 7 | (22,833) | (19,302) |
PROFIT FOR THE PERIOD | 78,783 | 65,938 | |
OTHER COMPREHENSIVE INCOME | |||
Other comprehensive income/(loss) to be |
reclassified to profit or loss in subsequent periods:
Cash flow hedges:
Effective portion of changes in fair
value of the hedging instruments arising during the period | 6,575 | 27,138 |
Reclassification adjustments for losses included in the consolidated statement of profit or loss | - | (6,169) |
Exchange fluctuation reserve: | 6,575 | 20,969 |
Translation of foreign operations | 23,326 | (13,677) |
OTHER COMPREHENSIVE INCOME FOR THE PERIOD | 29,901 | 7,292 |
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD 108,684 73,230
Six months ended 30 June2017 | 2016 | |
(unaudited) | (unaudited) | |
Note | HK$'000 | HK$'000 |
Profit/(loss) attributable to:
Owners of the parent | 78,877 | 65,942 |
Non-controlling interests | (94) | (4) |
Total comprehensive income/(loss) attributable to:
78,783 65,938Owners of the parent | 108,768 | 73,234 |
Non-controlling interests | (84) | (4) |
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS
OF THE PARENT 9
108,684 73,230Basic HK32.22 cents HK26.91 cents
Diluted HK31.47 cents HK26.89 cents
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONNotes | 30 June 2017 (unaudited) HK$'000 | 31 December 2016 (audited) HK$'000 | |
NON-CURRENT ASSETS Property, plant and equipment | 520,451 | 474,015 | |
Prepaid land lease payments | 69,040 | 67,655 | |
Goodwill | 4,132 | 4,009 | |
Other intangible asset | 237 | 303 | |
Investments in associates | 21,423 | 20,008 | |
Other receivables | 9,323 | 5,603 | |
Deferred tax assets | 76,096 | 73,933 | |
Total non-current assets | 700,702 | 645,526 | |
CURRENT ASSETS Inventories | 530,564 | 395,699 | |
Trade receivables | 10 | 919,523 | 1,253,314 |
Bills receivable | - | 4,683 | |
Prepayments, deposits and other receivables | 138,882 | 135,941 | |
Tax recoverable | 289 | 2,506 | |
Derivative financial instruments | 8,293 | - | |
Cash and cash equivalents | 783,788 | 730,495 | |
Total current assets | 2,381,339 | 2,522,638 | |
CURRENT LIABILITIES Trade payables | 11 | 928,458 | 1,064,311 |
Bills payable | - | 227 | |
Other payables and accruals | 570,370 | 622,049 | |
Tax payable | 102,431 | 89,367 | |
Derivative financial instruments | 4,673 | 2,907 | |
Provision | 220,006 | 216,787 | |
Total current liabilities | 1,825,938 | 1,995,648 | |
NET CURRENT ASSETS | 555,401 | 526,990 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,256,103 | 1,172,516 |
Tonly Electronics Holdings Ltd. published this content on 26 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2017 08:55:05 UTC.
Original documenthttp://www.tonlyele.com/EN/content.aspx?id=740
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