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WH Group Limited

萬洲國際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 288) UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2017 OF HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO., LTD.

On August 14, 2017 after trading hours (Hong Kong time), Shuanghui Development released its interim report for the six months ended June 30, 2017.

Henan Shuanghui Investment & Development Co., Ltd. (河南雙匯投資發展股份有限公司) ("Shuanghui Development") is a company incorporated in the People's Republic of China whose shares are listed on the Shenzhen Stock Exchange (the "Shenzhen Stock Exchange"). As at the date of this announcement, WH Group Limited (the "Company") indirectly owns approximately 73.25% equity interest in Shuanghui Development. On August 14, 2017, Shuanghui Development filed its interim report with Shenzhen Stock Exchange for the six months ended June 30, 2017 (the "Shuanghui Development Interim Report"). It is important to note that the unaudited consolidated financial results contained in Shuanghui Development Interim Report have been prepared in accordance with the China Accounting Standards for Business Enterprises. The Company prepares its consolidated financial results in accordance with the International Financial Reporting Standards (the "IFRS"). Accordingly, Shuanghui Development's results reported therein differ from Shuanghui Development's results contained in the Company's consolidated financial statements, which include certain adjustments in order to conform to the IFRS.

SUMMARY OF RESULTS OF SHUANGHUI DEVELOPMENT FOR THE SIX MONTHS ENDED JUNE 30, 2017

For the six months ended June 30, 2017, Shuanghui Development processed 6.3 million hogs, representing an increase of 2.16% from the comparable period of 2016. External sales volume of meat products was 1.46 million metric tons, representing an increase of 1.04% from the comparable period of 2016. Turnover decreased by 5.81% from the comparable period of 2016 to RMB24,045 million. Net profit decreased by 10.99% from the comparable period of 2016 to RMB1,983 million.

The unaudited consolidated statement of profit or loss for the six months ended June 30, 2017 and the unaudited consolidated statement of financial position as at June 30, 2017 of Shuanghui Development contained in the Shuanghui Development Interim Report are provided below:

SHUANGHUI DEVELOPMENT CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the six months ended June 30, 2017

For the six months ended June 30,

2017

RMB

2016

RMB

(unaudited)

(unaudited)

I.

Total operating income

24,045,231,882.50

25,528,679,284.52

Including: Operating income

23,997,162,774.64

25,527,227,750.49

Interest income

48,011,947.54

1,451,534.03

Handling and commission income

57,160.32

-

Less: Total operating costs

21,625,807,333.37

22,810,664,637.59

Including: Operating costs

19,534,171,971.85

20,932,734,812.39

Interest expenses

3,805,843.20

-

Handling and commission

charges

416,919.56

-

Business tax and levies

159,498,602.91

99,917,554.08

Selling expenses

1,167,243,595.93

1,099,154,420.78

Administrative expenses

553,746,724.89

631,866,325.41

Financial expenses

42,774,750.76

-13,502,967.47

Impairment losses of assets

164,148,924.27

60,494,492.40

Add: Investment income

36,948,151.72

70,157,953.74

Including: Income from investments

in associates and joint

ventures

11,896,672.54

10,574,585.78

II.

Operating profit

2,456,372,700.85

2,788,172,600.67

Add: Non-operating income

136,641,551.66

111,510,493.90

Including: Gain on disposal of

non-current assets

2,455,560.14

488,786.42

Less: Non-operating expenses

15,855,760.65

12,072,224.36

Including: Loss on disposal of

non-current assets

15,140,477.87

11,233,161.59

III.

Total profit

2,577,158,491.86

2,887,610,870.21

Less: Income tax expenses

593,867,553.77

659,451,358.32

IV.

Net profit

1,983,290,938.09

2,228,159,511.89

Net profit attributable to owners of Shuanghui

Development

1,904,054,872.23

2,151,463,456.36

Profit or loss attributable to non-controlling interests

79,236,065.86

76,696,055.53

V.

Total comprehensive income

1,983,290,938.09

2,228,159,511.89

Total comprehensive income attributable to

owners of Shuanghui Development

1,904,054,872.23

2,151,463,456.36

Total comprehensive income attributable to non-controlling interests

79,236,065.86

76,696,055.53

VI.

Earnings per share:

(1) Basic earnings per share

0.5771

0.6520

(2) Diluted earnings per share

0.5771

0.6520

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at June 30, 2017

As at June 30, 2017

As at January 1, 2017

RMB RMB

(unaudited) (unaudited) Current assets:

Cash and bank balances

2,690,843,089.16

3,303,688,588.09

Bills receivables

48,585,001.00

60,233,834.95

Trade receivables

109,589,026.13

100,835,614.91

Prepayments

28,635,273.09

57,586,136.30

Other receivables

47,741,626.73

47,682,603.89

Inventories

3,320,718,967.80

3,219,714,749.87

Non-current assets due within one year

2,405,999.92

2,334,034.42

Other current assets

769,331,874.63

248,978,269.65

Total current assets

7,017,850,858.46

7,041,053,832.08

Non current assets:

Loans to group companies

36,630,000.00

742,500,000.00

Available-for-sale investments

34,038,891.59

34,038,891.59

Long-term equity investments

172,358,792.39

176,666,881.24

Fixed assets

11,095,288,379.66

11,574,188,890.19

Construction in progress

708,210,959.04

532,599,950.74

Materials for construction of fixed assets

4,116,382.72

2,339,249.15

Biological assets

77,250,076.85

70,951,919.14

Intangible assets

1,028,643,121.93

1,042,586,917.58

Long-term prepaid expenses

61,794,746.71

62,792,467.66

Deferred tax assets

87,219,350.90

66,787,715.68

Other non-current assets

8,287,998.10

5,412,685.60

Total non-current assets

13,313,838,699.89

14,310,865,568.57

Total assets

20,331,689,558.35

21,351,919,400.65

Current liabilities:

Short-term borrowings

2,747,000,000.00

1,055,000,199.99

Deposit receipts

396,061,927.20

335,343,336.65

Trade payables

1,638,176,085.44

2,308,776,897.74

Receipts in advance

527,412,574.29

712,391,591.65

Other loan

273,679,126.68

-

Accrued staff costs

407,979,821.79

600,782,437.34

Tax payables

298,670,920.22

295,603,980.32

Interest payables

4,791,793.87

750,025.01

Dividend payables

40,165,171.21

118,669,486.46

Other payables

709,791,591.99

740,333,008.37

Non-current liabilities due within one year

334,278.56

341,855.36

Other current liabilities

7,501,262.88

8,440,201.50

Total current liabilities

7,051,564,554.13

6,176,433,020.39

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

As at June 30, 2017

As at June 30, 2017

As at January 1, 2017

RMB RMB

(unaudited) (unaudited) Non-current liabilities:

Long-term borrowings

5,514,733.84

5,825,999.87

Long-term payables

68,300,000.00

-

Deferred income

49,855,296.37

51,986,672.16

Deferred tax liabilities

48,635,240.93

48,925,918.81

Total non-current liabilities

172,305,271.14

106,738,590.84

Total liabilities

7,223,869,825.27

6,283,171,611.23

Owners' equity:

Share capital

3,299,558,284.00

3,299,558,284.00

Capital reserve

1,863,898,824.60

1,831,050,450.76

Surplus reserve

1,831,906,631.94

1,831,906,631.94

Other reserve

15,313.63

15,313.63

Retained profits

5,187,428,139.09

7,240,262,335.24

Total equity attributable to owners of

Shuanghui Development

12,182,807,193.26

14,202,793,015.57

Non-controlling interests

925,012,539.82

865,954,773.85

Total owners' equity

13,107,819,733.08

15,068,747,789.42

Total liabilities and owners' equity

20,331,689,558.35

21,351,919,400.65

If you wish to review the Shuanghui Development Interim Report in full, please visit www.szse.cn.

By order of the board of directors of

WH Group Limited Wan Long

Chairman and Chief Executive Officer

Hong Kong, August 14, 2017

As at the date of this announcement, the executive directors of the Company are Mr. WAN Long, Mr. GUO Lijun, Mr. ZHANG Taixi, Mr. SULLIVAN Kenneth Marc and Mr. YOU Mu; the non-executive director of the Company is Mr. JIAO Shuge; and the independent non- executive directors of the Company are Mr. HUANG Ming, Mr. LEE Conway Kong Wai and Mr. LAU, Jin Tin Don.

WH Group 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 11:21:01 UTC.

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