CHINA VERED FINANCIAL HOLDING CORPORATION 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.
China Minsheng Financial Holding Corporation Limited中 國 民 生 金 融 控 股 有 限 公 司
(incorporated in Hong Kong with limited liability)
(Stock Code: 245) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017The Board of Directors (the "Board") of China Minsheng Financial Holding Corporation Limited (the "Company") presents the unaudited condensed consolidated financial statements of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED)FOR THE SIX MONTHS ENDED 30 JUNE 2017
Six months ended 30 June | ||||
2017 | 2016 | |||
Note | HK$'000 | HK$'000 | ||
Interest income | 8 | 77,673 | 15,604 | |
Commission and fee income | 9 | 27,074 | 9,951 | |
Net investment income | 10 | 138,193 | 33,293 | |
Total revenue | 6 | 242,940 | 58,848 | |
Commission expenses | (109) | (959) | ||
242,831 | 57,889 | |||
Other income | 6 | 405 | ||
242,837 | 58,294 | |||
Expenses | ||||
Staff costs and related expenses | (41,053) | (19,299) | ||
Other termination benefits | (11,829) | - | ||
Premises expenses | (3,236) | (4,416) | ||
Legal and professional fees | (8,788) | (4,172) | ||
Depreciation | (1,903) | (445) | ||
Information technology expenses | (2,148) | (241) | ||
Impairment losses on available-for-sale financial assets | (6,650) | - | ||
Foreign exchange losses, net | (791) | (7,135) | ||
Other operating expenses | (14,093) | (10,669) | ||
Total operating expenses | (90,491) | (46,377) | ||
Six months ended 30 June | ||||
2017 | 2016 | |||
Note | HK$'000 | HK$'000 | ||
Operating profit | 152,346 | 11,917 | ||
Share of post-tax loss of associates | 15 | (2,159) | (502) | |
Finance costs | (28,398) | - | ||
Profit before income tax | 6 | 121,789 | 11,415 | |
Income tax expenses | 7 | (9,479) | (2,527) | |
Profit for the period | 112,310 | 8,888 | ||
Profit attributable to: | ||||
- Owners of the Company | 115,026 | 12,288 | ||
- Non-controlling interests | (2,716) | (3,400) | ||
112,310 | 8,888 | |||
HK$ Cents per share | HK$ Cents per share | |||
Earnings per share attributable to owners of the Company | ||||
Basic earnings per share | 12 | 0.40 | 0.04 | |
Diluted earnings per share | 12 | 0.40 | 0.04 | |
FOR THE SIX MONTHS ENDED 30 JUNE 2017
Six months ended 30 June | |||
2017 | 2016 | ||
HK$'000 | HK$'000 | ||
Profit for the period | 112,310 | 8,888 | |
Other comprehensive income | |||
Items that may be reclassified subsequently to profit or loss | |||
Net change on fair value on available-for-sale financial assets, net of tax | 126,336 | 8,113 | |
Currency translation differences | 6,014 | (262) | |
Other comprehensive income for the period, net of tax | 132,350 | 7,851 | |
Total comprehensive income for the period | 244,660 | 16,739 | |
Total comprehensive income for the period attributable to: | |||
- Owners of the Company | 253,066 | 14,993 | |
- Non-controlling interests | (8,406) | 1,746 | |
244,660 | 16,739 | ||
AS AT 30 JUNE 2017
30 June 2017 | 31 December 2016 | |||
Note | HK$'000 | HK$'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 13 | 7,841 | 9,493 | |
Goodwill | 14 | 16,409 | 16,409 | |
Other intangible assets | 500 | 500 | ||
Investments in associates | 15 | 163,048 | 123,207 | |
Rental and other deposits | 353 | 367 | ||
Financial assets designated at fair value through profit or loss | 1,426,870 | 256,295 | ||
Available-for-sale financial assets | 945,122 | 865,455 | ||
Total non-current assets | 2,560,143 | 1,271,726 | ||
Current assets | ||||
Margin receivables and other trade receivables | 394,098 | 106,944 | ||
Available-for-sale financial assets | 648,906 | 599,151 | ||
Financial assets designated at fair value through profit or loss | 38,700 | 100,417 | ||
Derivative financial instruments | 28,735 | 32,183 | ||
Loan and interest receivables | 1,081,139 | 1,230,939 | ||
Deferred tax assets | 4,747 | 8,045 | ||
Other receivables, prepayments and deposits | 26,454 | 68,248 | ||
Pledged bank deposits | 302 | 282 | ||
Margin accounts with financial institutions | 49,117 | 212,814 | ||
Deposits with brokers | 480,652 | 854,819 | ||
Cash and bank balances | 1,207,895 | 1,428,308 | ||
Total current assets | 3,960,745 | 4,642,150 | ||
Total assets | 6,520,888 | 5,913,876 | ||
China Minsheng Financial Holding Corporation Limited published this content on 23 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 August 2017 11:42:04 UTC.
Original documenthttp://www.sevenstar.hk/home/upload/en/Announcements/report_file_389_e.pdf
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