PAN HONG HOLDINGS GROUP LIMITED PAN HONG HOLDINGS GROUP LIMITED
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PAN HONG HOLDINGS GROUP LIMITED
(Incorporated in Bermuda on 20 December 2005)
(Co. Reg. No: 37749)
FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF HALF-YEAR RESULTS
1(a) An income statement and statement of comprehensive income, for the group together with a comparative statement for the corresponding period of the immediately preceding financial year.
CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Group | |||||
6 months | 6 months | Increase/ | |||
RMB'000 | ended | ended | (Decrease) | ||
30 September | 30 September | ||||
2022 | 2021 | ||||
(Unaudited) | (Unaudited) | ||||
Revenue | 18,495 | 280,866 | (93.4%) | ||
Cost of Sales | (8,322) | (176,142) | (95.3%) | ||
Gross profit | 10,173 | 104,724 | (90.3%) | ||
Other income and other gains and losses | 2,004 | 26,058 | (92.3%) | ||
Selling and distribution expenses | (3,028) | (3,563) | (15.0%) | ||
Administrative expenses | (7,801) | (9,002) | (13.3%) | ||
Share of loss of an associate | (5) | - | NM | ||
Operating profit | 1,343 | 118,217 | (98.9%) | ||
Finance costs | (1,718) | (101) | 1,601.0% | ||
(Loss)/profit before income tax | (375) | 118,116 | (100.3%) | ||
Income tax expenses | (4,822) | (35,933) | (86.6%) | ||
(Loss)/profit for the period | (5,197) | 82,183 | (106.3%) | ||
Other comprehensive income, net of tax | |||||
Item that may be reclassified subsequently to profit or loss: | |||||
Exchange differences on translation of financial statements of | |||||
foreign operations | (1,290) | 118 | (1,193.2%) | ||
Other comprehensive income for the period | (1,290) | 118 | (1,193.2%) | ||
Total comprehensive income for the period | (6,487) | 82,301 | (107.9%) | ||
(Loss)/profit for the period attributable to: | |||||
Owners of the Company | (5,048) | 82,479 | (106.1%) | ||
Non-controlling interests | (149) | (296) | (49.7%) | ||
(5,197) | 82,183 | (106.3%) | |||
Total comprehensive income attributable to: | |||||
Owners of the Company | (6,338) | 82,597 | (107.7%) | ||
Non-controlling interests | (149) | (296) | (49.7%) | ||
(6,487) | 82,301 | (107.9%) | |||
(Loss)/earnings per share for profit attributable to the owners of | |||||
the Company during the period (in RMB cents): | |||||
- | Basic and diluted | (0.99) | 16.10 | (106.1%) |
*NM: not meaningful
PAN HONG HOLDINGS GROUP LIMITED
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1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.
Group | Company | |||
30 September | 31 March | 30 September | 31 March | |
2022 | 2022 | 2022 | 2022 | |
RMB'000 | (Unaudited) | (Audited) | (Unaudited) | (Audited) |
ASSETS AND LIABILITIES | ||||
Non-current assets |
Property, plant and equipment Investment properties Investments in subsidiaries Investments in associates
Financial asset at fair value through other comprehensive income
Deferred tax assets
Current assets
Properties held under development Properties held for sale Prepayments and other receivables Amounts due from subsidiaries
Financial assets at fair value through profit or loss
Tax recoverable
Cash and bank balances
Current liabilities
Accruals and other payables
Contract liabilities
Current tax liabilities
Amounts due to related parties
Bank loans
Net current assets
Total assets less current liabilities
Non-current liabilities
Bank and other loans
Deferred tax liabilities
Net assets
EQUITY
Equity attributable to the owners of the Company
Share capital
Reserves
Non-controlling interests
Total equity
45,559 | 46,164 | - | - |
61,960 | 59,420 | - | - |
- | - | 278,608 | 278,608 |
1,813 | 1,818 | - | - |
27,478 | 27,478 | 16,553 | 16,553 |
6,551 | 6,551 | - | - |
143,361 | 141,431 | 295,161 | 295,161 |
666,637 | 573,593 | - | - |
180,066 | 187,142 | - | - |
829,345 | 885,808 | 125 | 125 |
- | - | 365,554 | 365,554 |
283 | 276 | - | - |
13,644 | 13,565 | - | - |
28,429 | 28,073 | 153 | 154 |
1,718,404 | 1,688,457 | 365,832 | 365,833 |
260,935 | 259,141 | 624 | 24 |
42,801 | 27,636 | - | - |
101,664 | 126,688 | - | - |
88,115 | 86,337 | 336,712 | 335,566 |
132,112 | 27,520 | - | - |
625,627 | 527,322 | 337,336 | 335,590 |
1,092,777 | 1,161,135 | 28,496 | 30,243 |
1,236,138 | 1,302,566 | 323,657 | 325,404 |
215,000 | 275,000 | - | - |
4,848 | 4,789 | - | - |
219,848 | 279,789 | - | - |
1,016,290 | 1,022,777 | 323,657 | 325,404 |
52,241 | 52,241 | 52,241 | 52,241 |
944,126 | 950,464 | 271,416 | 273,163 |
996,367 | 1,002,705 | 323,657 | 325,404 |
19,923 | 20,072 | - | - |
1,016,290 | 1,022,777 | 323,657 | 325,404 |
PAN HONG HOLDINGS GROUP LIMITED
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1(b)(ii) In relation to the aggregate amount of group's borrowings and debt securities, specify as at the end of the current financial period reported on with comparative figures as at the end of the immediately preceding financial year:
Amount repayable in one year or less, or on demand
As at 30/09/2022 | As at 31/03/2022 | ||
Secured | Unsecured | Secured | Unsecured |
RMB'000 | RMB'000 | RMB'000 | RMB'000 |
132,112 | - | 27,520 | - |
Amount repayable after one year | |||
As at 30/09/2022 | As at 31/03/2022 | ||
Secured | Unsecured | Secured | Unsecured |
RMB'000 | RMB'000 | RMB'000 | RMB'000 |
180,000 | 35,000 | 240,000 | 35,000 |
Details of any collateral
Bank loans of approximately RMB7,112,000 and RMB305,000,000 were secured by the Group's property, plant and equipment, properties under development and properties held for sale respectively as at 30 September 2022.
PAN HONG HOLDINGS GROUP LIMITED
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1(c) A statement of cash flow (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
RMB'000 | Group | ||
6 months | 6 months | ||
ended | ended | ||
30 September | 30 September | ||
2022 | 2021 |
(Unaudited) | (Unaudited) | |
Cash flows from operating activities | ||
(Loss)/profit before income tax | (375) | 118,116 |
Adjustments for: | ||
Interest income | (400) | (4,294) |
Interest expense | 1,718 | 101 |
Depreciation of property, plant and equipment | 1,421 | 1,365 |
Gain on disposal of property, plant and equipment | - | (6,786) |
Gain on disposal of financial assets at fair value through profit and loss | (6) | (15,714) |
Net fair value loss for financial assets at fair value through profit and loss | 31 | 3,118 |
Net fair value gain of investment properties | (767) | (1,450) |
Share of loss of an associate | 5 | - |
Operating profit before working capital changes | 1,627 | 94,456 | |
(Increase)/decrease in properties held under development and properties held | |||
for sale | (51,193) | 136,420 | |
Decrease/(increase) in accounts and other receivables and prepayments | 29,435 | (389,078) | |
Decrease/(increase) in restricted bank balances | 973 | (1,309) | |
Increase/(decrease) in accounts and other payables, accruals and contract | |||
liabilities | 16,959 | (298,733) | |
(Increase)/decrease in financial assets at fair value through profit or loss | (32) | 34,126 |
Cash used in operations | (2,231) | (424,118) | |
Interest received | 400 | 4,294 | |
Income taxes paid | (29,925) | (36,700) | |
Net cash used in operating activities | (31,756) | (456,524) | |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (279) | (278) | |
Proceeds from disposals of property, plant and equipment | - | 14,704 | |
Net cash (used in)/generated from investing activities | (279) | 14,426 | |
Cash flows from financing activities | |||
Advance from related parties | 800 | 70,000 | |
Proceeds from new borrowings | 55,000 | 150,000 | |
Repayments of bank and other loans | (11,231) | (1,194) | |
Dividend paid to owners of the Company | - | (36,629) | |
Interest paid | (11,235) | (4,272) | |
Net cash generated from financing activities | 33,334 | 177,905 | |
Net increase/(decrease) in cash and cash equivalents | 1,299 | (264,193) | |
Effect of foreign exchange difference | 30 | (886) | |
Cash and cash equivalents at beginning of the period | 24,452 | 368,756 | |
Cash and cash equivalents at end of the period (note) | 25,781 | 103,677 | |
Note: | |||
Analysis of balances of cash and cash equivalents | |||
Cash and bank balances | 28,429 | 105,868 | |
Less: restricted bank balances | (2,648) | (2,191) | |
25,781 | 103,677 | ||
PAN HONG HOLDINGS GROUP LIMITED
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1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year.
CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY
Equity attributable to equity holders of the Company | |||||||||||||||||
Fair value | Non- | ||||||||||||||||
Share | Treasury | Merger | Statutory | Capital | through other | Other | Exchange | Retained | |||||||||
Group | Total | Controlling | Total equity | ||||||||||||||
capital | shares | reserve | reserve | reserve | comprehensive | reserve | reserve | earnings | |||||||||
interests | |||||||||||||||||
income reserve | |||||||||||||||||
RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | ||||||
At 1 April 2021 (audited) | 52,241 | (12,817) | (2,243) | 87,430 | 3,838 | (2,884) | 85,452 | (10,743) | 770,574 | 970,848 | 20,592 | 991,440 | |||||
Profit for the period | - | - | - | - | - | - | - | - | 82,479 | 82,479 | (296) | 82,183 | |||||
Other comprehensive income | |||||||||||||||||
Exchange differences on translation of | |||||||||||||||||
financial statements of foreign operations | - | - | - | - | - | - | - | 118 | - | 118 | - | 118 | |||||
Total comprehensive income for the | |||||||||||||||||
period | - | - | - | - | - | - | - | 118 | 82,479 | 82,597 | (296) | 82,301 | |||||
Dividend paid to owners of the Company | - | - | - | - | - | - | - | - | (36,629) | (36,629) | - | (36,629) | |||||
At 30 September 2021 (unaudited) | 52,241 | (12,817) | (2,243) | 87,430 | 3,838 | (2,884) | 85,452 | (10,625) | 816,424 | 1,016,816 | 20,296 | 1,037,112 | |||||
At 1 April 2022 (audited) | 52,241 | (12,817) | (2,243) | 94,433 | 3,838 | (3,870) | 85,452 | (10,588) | 796,259 | 1,002,705 | 20,072 | 1,022,777 | |||||
Loss for the period | - | - | - | - | - | - | - | - | (5,048) | (5,048) | (149) | (5,197) | |||||
Other comprehensive income | |||||||||||||||||
Exchange differences on translation of | |||||||||||||||||
financial statements of foreign operations | - | - | - | - | - | - | - | (1,290) | - | (1,290) | - | (1,290) | |||||
Total comprehensive income for the | |||||||||||||||||
period | - | - | - | - | - | - | - | (1,290) | (5,048) | (6,338) | (149) | (6,487) | |||||
At 30 September 2022 (unaudited) | 52,241 | (12,817) | (2,243) | 94,433 | 3,838 | (3,870) | 85,452 | (11,878) | 791,211 | 996,367 | 19,923 | 1,016,290 | |||||
Treasury | Contributed | Fair value through | ||||
Company | Share capital | other comprehensive | Retained earnings | Total | ||
shares | surplus | |||||
income reserve | ||||||
RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | |
At 1 April 2021 (audited) | 52,241 | (12,817) | 59,579 | (653) | 216,364 | 314,714 |
Dividend paid to owners of the Company | - | - | - | - | (36,629) | (36,629) |
Profit for the period | - | - | - | - | 48,336 | 48,336 |
At 30 September 2021 (unaudited) | 52,241 | (12,817) | 59,579 | (653) | 228,071 | 326,421 |
At 1 April 2022 (audited) | 52,241 | (12,817) | 59,579 | (1,247) | 227,648 | 325,404 |
Loss for the period | - | - | - | - | (1,747) | (1,747) |
At 30 September 2022 (unaudited) | 52,241 | (12,817) | 59,579 | (1,247) | 225,901 | 323,657 |
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Pan Hong Holdings Group Ltd. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 07:58:02 UTC.
