MAN WAH 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.
MAN WAH HOLDINGS LIMITED
敏 華 控 股 有 限 公 司
(Incorporated in Bermuda with limited liability)
(Stock Code: 01999)
ANNOUNCEMENT OF FINAL RESULTS
FOR THE YEAR ENDED 31 MARCH 2021
AND
CLOSURE OF REGISTER OF MEMBER
The board (the "Board") of directors (the "Directors") of Man Wah Holdings Limited (the "Company") is pleased to announce the audited consolidated financial results of the Company and its subsidiaries (the "Group") for the financial year ended 31 March 2021 ("FY2021", the "Review Period" or the "Reporting Period") together with the comparative figures for the previous financial year ended 31 March 2020 ("FY2020" and "Last Corresponding Period").
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 March 2021
2021 | 2020 | ||||
NOTES | HK$'000 | HK$'000 | |||
Revenue | 3 | 16,434,071 | 12,144,299 | ||
Cost of goods sold | 5 | (10,504,964) | (7,726,600) | ||
Gross profit | 5,929,107 | 4,417,699 | |||
Other income | 511,894 | 413,794 | |||
Other (losses)/gains, net | (93,713) | 56,724 | |||
Selling and distribution expenses | 5 | (3,118,564) | (2,001,747) | ||
Administrative and other expenses | 5 | (778,071) | (622,084) | ||
Operating profit | 2,450,653 | 2,264,386 | |||
Finance costs | (96,046) | (155,947) | |||
Share of results of joint ventures | 5,707 | 805 | |||
Profit before income tax | 2,360,314 | 2,109,244 | |||
Income tax expense | 4 | (336,908) | (417,247) | ||
Profit for the year | 2,023,406 | 1,691,997 | |||
Other comprehensive income/(loss): | |||||
Items that may be reclassified to profit or loss: | |||||
Currency translation differences | 546,805 | (559,868) | |||
Other comprehensive income/(loss) for the year | 546,805 | (559,968) | |||
Total comprehensive income for the year | 2,570,211 | 1,132,129 | |||
Profit for the year attributable to: | |||||
Owners of the Company | 1,924,513 | 1,638,069 | |||
Non-controlling interests | 98,893 | 53,928 | |||
2,023,406 | 1,691,997 | ||||
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2021 | 2020 | |||
NOTE | HK$'000 | HK$'000 | ||
Total comprehensive income | ||||
for the year attributable to: | ||||
Owners of the Company | 2,439,729 | 1,097,813 | ||
Non-controlling interests | 130,482 | 34,316 | ||
2,570,211 | 1,132,129 | |||
Earnings per share attributable to owners | ||||
of the Company | ||||
Basic (HK cents per share) | 6 | 50.26 | 42.89 | |
Diluted (HK cents per share) | 6 | 50.10 | 42.87 | |
- 3 -
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 31 March 2021
2021 | 2020 | |||
NOTE | HK$'000 | HK$'000 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 4,774,294 | 3,949,987 | ||
Investment properties | 482,067 | 455,215 | ||
Right-of-use assets | 2,324,072 | 2,228,518 | ||
Goodwill | 560,519 | 524,048 | ||
Other intangible assets | 166,517 | 188,440 | ||
Interests in joint ventures | 55,812 | 29,673 | ||
Deferred tax assets | 42,678 | 12,031 | ||
Deposits paid for a land lease | 167,311 | 3,692 | ||
Deposits paid for acquisition of subsidiaries | 244,585 | - | ||
Financial assets at fair value through profit or | ||||
loss | 1,894 | - | ||
Prepayments and deposits paid for acquisition of | ||||
property, plant and equipment | 126,926 | 156,023 | ||
8,946,675 | 7,547,627 | |||
Current assets | ||||
Inventories | 2,003,605 | 1,532,993 | ||
Properties held for sale | 254,779 | 48,227 | ||
Properties under development | 164,498 | 149,410 | ||
Trade and bills receivables | 8 | 1,680,529 | 1,210,754 | |
Other receivables and prepayments | 700,841 | 470,341 | ||
Financial assets at fair value through | ||||
profit or loss | 372,750 | 204,682 | ||
Tax recoverable | 6,854 | 1,941 | ||
Structured deposits | - | 3,946 | ||
Short-term bank deposits | 892,066 | - | ||
Restricted bank balances | 12,237 | 23,636 | ||
Cash and cash equivalents | 2,404,027 | 2,020,245 | ||
Total current assets | 8,492,186 | 5,666,175 | ||
Total assets | 17,438,861 | 13,213,802 | ||
- 4 -
2021 | 2020 | |||
NOTE | HK$'000 | HK$'000 | ||
EQUITY | ||||
Equity attributable to owners of the Company | ||||
Share capital | 1,583,518 | 1,518,376 | ||
Reserves | 9,157,814 | 5,185,771 | ||
10,741,332 | 6,704,147 | |||
Non-controlling interests | 663,727 | 528,549 | ||
Total equity | 11,405,059 | 7,232,696 | ||
LIABILITIES | ||||
Non-current liabilities | ||||
Lease liabilities | 20,308 | 29,533 | ||
Bank borrowings - non-current portion | 1,196 | 701,786 | ||
Deferred tax liabilities | 128,854 | 128,896 | ||
Other non-current liabilities | 1,278 | 1,333 | ||
151,636 | 861,548 | |||
Current liabilities | ||||
Trade and bills payables | 9 | 971,142 | 967,090 | |
Other payables and accruals | 746,883 | 452,160 | ||
Lease liabilities | 26,419 | 28,755 | ||
Contract liabilities | 363,145 | 260,856 | ||
Bank borrowings - current portion | 3,588,713 | 3,277,499 | ||
Tax payable | 185,864 | 133,198 | ||
5,882,166 | 5,119,558 | |||
Total liabilities | 6,033,802 | 5,981,106 | ||
Total equity and liabilities | 17,438,861 | 13,213,802 | ||
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Man Wah Holdings Limited published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 14:36:09 UTC.
