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China Best : ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 (in PDF)

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08/25/2016 | 03:09pm CEST

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.

CHINA BEST GROUP HOLDING LIMITED

國華集團控股有限公司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 370)

ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

The board of directors (the "Board") of China Best Group Holding Limited (the "Company") would like to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2016 together with the comparative figures for the six months ended 30 June 2015.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2016

Six months ended

30.6.2016 30.6.2015

Note HK$'000 HK$'000

(Unaudited) (Unaudited

and restated)

Continuing operations

Turnover 3 389,979 310,334

* For identification purpose only

Notes

HK$'000

(Unaudited)

HK$'000

(Unaudited and restated)

Revenue

4

267,346

205,222

Cost of sales

(238,324)

(193,553)

Gross profit

29,022

11,669

Other income

1,467

1,108

Administrative and other expenses

(33,984)

(19,395)

Realised (loss) gain on held for trading investments

(7,566)

26,470

Unrealised gain on held for trading investments

10,096

123,554

Impairment loss on an available-for-sale investment

7(i)

(4,761)

-

Share of losses of associates

(6,872)

(167)

(Loss) profit before tax

5

(12,598)

143,239

Income tax expense

6

(2,517)

(9)

(Loss) profit for the period

from continuing operations

(15,115)

143,230

Discontinued operation

Profit (loss) for the period

from discontinued operation

7(ii)

7,799

(2,583)

(Loss) profit for the period

(7,316)

140,647

Other comprehensive (loss) income

for the period:

Other comprehensive (loss) income to be reclassified to profit or loss

in subsequent periods:

Share of other comprehensive loss of associates

(3,740)

-

Exchange differences on translation of

foreign operations

(10,013)

1,818

Translation reserve reclassified on disposal of

subsidiaries (1,947) -

Fair value (loss) gain

on available-for-sale investments (9,212) 21,352 Reserve released upon impairment

loss on an available-for-sale investment 4,761 -

Other comprehensive (loss) income

for the period (20,151) 23,170

Total comprehensive (loss) income

for the period (27,467) 163,817

Note

HK$'000

(Unaudited)

HK$'000

(Unaudited and restated)

(Loss) profit for the period attributable to

owners of the Company:

- from continuing operations

(15,112)

143,221

- from discontinued operation

8,295

(1,063)

(6,817)

142,158

(Loss) profit for the period attributable to

non-controlling interests:

- from continuing operations

(3)

9

- from discontinued operation

(496)

(1,520)

(499)

(1,511)

(7,316)

140,647

Total comprehensive (loss) income

for the period attributable to:

- owners of the Company

(26,971)

165,308

- non-controlling interests

(496)

(1,491)

(27,467)

163,817

(Loss) earnings per share

9

For continuing and discontinued operations

- basic (HK cents)

(0.10) cents

3.31 cents

- diluted (HK cents)

(0.10) cents

3.29 cents

For continuing operations

- basic (HK cents)

(0.22) cents

3.33 cents

- diluted (HK cents)

(0.22) cents

3.31 cents

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30 June 2016

Notes

30.6.2016

HK$'000

31.12.2015

HK$'000

(Unaudited)

(Audited)

Non-current assets

Plant and equipment

10,864

10,604

Intangible asset

811

811

Interests in associates

101,201

99,859

Finance lease receivables

10

189,192

-

Loan and interest receivables

11

40,000

-

Available-for-sale investments

13,945

51,762

356,013

163,036

Current assets

Finance lease receivables

10

52,463

176,751

Loan and interest receivables

11

173,371

-

Trade and other receivables

12

132,969

72,354

Held for trading investments

112,583

232,686

Pledged bank deposit

58

55

Bank balances and cash

225,474

87,522

696,918

569,368

Assets classified as held for disposal

7

28,605

34,636

725,523

604,004

Current liabilities

Trade and other payables

13

22,425

12,820

Deferred revenue

4,774

-

Tax liabilities

7,450

6,805

34,649

19,625

Liabilities associated with

assets classified as held for disposal

7

-

54,396

34,649

74,021

Net current assets

690,874

529,983

Total assets less current liabilities

1,046,887

693,019

Capital and reserves

Share capital

363,228

263,228

Reserves

683,686

453,266

Equity attributable to owners of the Company

1,046,914

716,494

Non-controlling interests

(27)

(23,475)

Total equity

1,046,887

693,019

China Best Group Holding Ltd. published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 13:09:02 UTC.

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