SHANDONG MOLONG PETROLEUM MACHINERY COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibilities 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.
(A Sino-foreign joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 568)
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
HIGHLIGHTS
. For the year ended 31 December 2020, the total operating revenue of the Group in the consolidated financial statements amounted to RMB3,009,719,029.66, representing a decrease of approximately 31.42% as compared to RMB4,388,904,215.91 in the corresponding period of last year.
. Revenue attributable to the equity owners of the Company in the consolidated financial statements amounted to RMB32,178,630.99, representing an increase of RMB228,487,898.89 as compared to -RMB196,309,267.90 in the corresponding period of last year.
. Earnings per share in the consolidated financial statements amounted to approximately RMB0.04, representing an increase of RMB0.29 as compared to the earnings per share of -RMB0.25 in the corresponding period of last year.
. The Board does not recommend the payment of final dividend for the year ended 31 December 2020.
The board of directors (the ''Board'') of Shandong Molong Petroleum Machinery Company Limited＊ (the''Company'') announces the audited results of the Company and its subsidiaries (collectively, the''Group'') for the year ended 31 December 2020.
The financial information set out below in this announcement does not constitute the Group's statutory financial statements for the year ended 31 December 2020, but represents an extract from those financial statements. The financial information has been reviewed by the audit committee of the Company (the ''Audit Committee'') and agreed by the Group's external auditor, Shinewing Certified Public Accountants Ltd., Certified Public Accountants Ltd. (Special General Partnership).
Unless specified otherwise, the financial information of the Company was stated in Renminbi.
CONSOLIDATED INCOME STATEMENT For the year ended 31 December 2020
Note
I. Total operating revenue Including: Operating revenue
2020
3,009,719,029.66 4,388,904,215.91 3,009,719,029.66 4,388,904,215.91
Interest income
Insurance premium earned Brokerage and commission income
II. Total operating costs
Including: Operating costs
3,342,727,781.59 4,547,980,146.59 2,902,436,729.61 4,034,622,745.27
Interest expenses
Brokerage and commission expenses
Surrenders
2019
Net compensation expenses
Net amount of insurance contract
reserves provided
Policyholder dividend expenses
Reinsurance premiums
Tax and surcharges
19,116,487.72
25,254,426.66
Selling expenses
14,948,332.92
Administrative expenses
Research and development expenses
52,542,810.96
84,340,449.53
194,470,836.86
193,606,016.95
63,830,329.90
Finance costs
159,212,583.52
146,326,178.28
Including: Interest expenses
137,373,401.15
Interest income
Add: Other gains
17,770,915.00
Investment income
14,032,294.31
3,384,366.15
Including: Gains on investment in
associates and joint ventures
5,507,436.70
(39,767.09)
(242,363.72)
159,146,751.07
8,791,007.22
(106,457.89)
Gain on derecognition of
financial assets measured at
amortised cost
Exchange gains
Net gains on exposure hedges
Gain on fair value changes
Credit impairment losses
Asset impairment losses
Gain on disposal of assets
III. Operating profit
Add: Non-operating income Less: Non-operating expenses
1,142,033.60
(1,047,770.83)
(17,003,268.54)
(37,538,995.67)
IV. Total profit
Less: Income tax expenses
V. Net profit
(i) By business continuity
1. Net profit from continuing operations
2. Net profit from discontinued operations
(ii) By attributable ownership
2020 17,528,546.96 6,073,146.60 11,455,400.36 11,455,400.36
Note
1. Net profit attributable to the shareholders of the parent company
2. Loss or profit attributable to minority interests
(20,723,230.63)
2019
(215,227,132.00)
9,680,705.56 (224,907,837.56)
(224,907,837.56)
32,178,630.99
(196,309,267.90)
(28,598,569.66)
VI. Other comprehensive income, net of tax Other comprehensive income attributable to owners of the parent company, net of tax
(i) Other comprehensive income that may not be reclassified to profit or loss
1. Changes on remeasurement of defined benefit plans
2. Other comprehensive income that may not be transferred to profit or loss under equity accounting
1,154,980.84 1,039,482.75
(292,277.16)
(263,049.44)
3. Fair value changes in investments in other equity instruments
4. Fair value changes in credit risk of the Company
5. Others
(ii) Other comprehensive income that will be reclassified to profit or loss
1,039,482.75
1. Other comprehensive income that may be transferred to profit or loss under equity accounting
2. Fair value changes in other debt investments
3. Reclassification of financial assets to other comprehensive income
4. Credit-impaired provision for other debt investments
5. Cash flow hedge reserve
6. Exchange differences on translation of foreign financial statements
1,039,482.75
(263,049.44)
7. Others
Other comprehensive income attributable to minority shareholders, net of tax
115,498.09
(29,227.72)
(263,049.44)
VII. Total comprehensive income
Total comprehensive income attributable to
owners of the parent company
2020 12,610,381.20 33,218,113.74
Note
2019
(225,200,114.72)
Total comprehensive income attributable to
minority interests
VIII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
0.04 0.04
(0.25) (0.25)
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Shandong Molong Petroleum Machinery Co. Ltd. published this content on 26 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 09:02:04 UTC.
