SINOFERT 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.
ANNOUNCEMENT
FINANCIAL DATA OF SINOCHEM FERTILIZER FOR
THE SIX MONTHS ENDED 30 JUNE 2020
This announcement is made by Sinofert Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rules 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Reference is made to the announcements of the Company dated 10 March, 11 March, 17 April, 20 April, 20 May and 21 May 2020 in relation to the issue of the super & short-term commercial paper for the year of 2020 by Sinochem Fertilizer Company Limited ("Sinochem Fertilizer"), an indirect wholly-owned subsidiary of the Company.
According to the relevant PRC regulations, Sinochem Fertilizer is required to publish its financial data on a quarterly basis on the website of Shanghai Clearing House at www.shclearing.com and the website of China Money at www.chinamoney.com.cn during the term of the above debts. Set out below are the unaudited financial data of Sinochem Fertilizer and its subsidiaries on a consolidated basis and the unaudited financial data of Sinochem Fertilizer for the six months ended 30 June 2020, which are prepared in accordance with the China Accounting Standards for Business Enterprises, and have no material difference from those prepared in accordance with the Hong Kong Financial Reporting Standards. The financial data contained herein have been consolidated into the financial statements of the Group for the six months ended 30 June 2020 published by the Company on 20 August 2020.
1
Shareholders of the Company and potential investors are advised to exercise caution in dealing in the securities of the Company.
For and on behalf of the Board
SINOFERT HOLDINGS LIMITED
Qin Hengde
Executive Director and Chief Executive Officer
Hong Kong, 31 August 2020
As at the date of this announcement, the executive directors of the Company are Mr. Qin Hengde (Chief Executive Officer), Mr. Feng Mingwei and Mr. Harry Yang; the non-executive director of the Company is Mr. Yang Lin; and the independent non-executive directors of the Company are Mr. Ko Ming Tung, Edward, Mr. Lu Xin and Mr. Tse Hau Yin, Aloysius.
* For identification purposes only
2
Sinochem Fertilizer Company Limited
Balance Sheet
30 June 2020
RMB Yuan
Item | 30 June 2020 | 31 December 2019 |
Current Assets | ||
Cash at bank and on hand | 968,499,687.68 | 1,425,678,720.00 |
Financial assets held for trading | 1,950,000,000.00 | 400,000,000.00 |
Accounts receivable | 104,283,680.32 | 107,819,236.07 |
Receivables under financing | 316,108,762.04 | 307,232,591.32 |
Prepayments | 1,485,613,511.50 | 1,650,319,151.04 |
Other receivables | 246,096,291.36 | 228,095,885.21 |
Inventories | 3,065,297,090.65 | 4,219,807,375.58 |
Other current assets | 2,093,527,195.27 | 2,801,759,395.19 |
Total Current Assets | 10,229,426,218.82 | 11,140,712,354.41 |
Non-Current Assets | ||
Long-term equity investments | 6,424,203,686.48 | 5,881,869,345.71 |
Investments in other equity instruments | 203,295,954.93 | 279,289,198.53 |
Fixed assets | 187,665,932.43 | 177,342,454.47 |
Construction in progress | 2,776,553.41 | 2,388,073.31 |
Right-of-use assets | 10,564,532.43 | 21,129,064.81 |
Intangible assets | 12,659,597.88 | 13,439,655.54 |
Development costs | 18,491,326.73 | 17,897,094.35 |
Long-term deferred expenses | 1,329,627.93 | 1,477,545.09 |
Deferred tax assets | 67,829,036.02 | 49,163,800.12 |
Other non-current assets | 315,000,000.00 | 315,000,000.00 |
Total non-current assets | 7,243,816,248.24 | 6,758,996,231.93 |
TOTAL ASSETS | 17,473,242,467.06 | 17,899,708,586.34 |
Sinochem Fertilizer Company Limited
Balance Sheet (continued)
30 June 2020
RMB Yuan
Item | 30 June 2020 | 31 December 2019 |
Current Liabilities | ||
Short-term loans | 870,707,356.36 | 1,101,638,371.96 |
Bills payable | 1,803,042,965.42 | 1,868,544,630.31 |
Accounts payable | 2,153,921,933.86 | 1,851,017,836.53 |
Contract liabilities | 1,379,225,026.42 | 2,107,018,515.07 |
Employee benefits payable | 6,650,290.91 | 6,807,120.36 |
Taxes payable | 78,332,735.50 | 34,313,389.36 |
Other payables | 204,819,343.76 | 332,628,439.58 |
Non-current liabilities due within one year | 5,430,301.62 | 21,601,735.66 |
Other current liabilities | 2,600,000,000.00 | 2,400,000,000.00 |
Total current liabilities | 9,102,129,953.85 | 9,723,570,038.83 |
Non-Current Liabilities | ||
Deferred income | 2,358,500.00 | 2,433,500.00 |
Total non-current liabilities | 2,358,500.00 | 2,433,500.00 |
TOTAL LIABILITIES | 9,104,488,453.85 | 9,726,003,538.83 |
Owners' Equity | ||
Paid-in capital | 10,600,000,000.00 | 10,600,000,000.00 |
Capital reserves | 744,745,753.41 | 744,745,753.41 |
Other comprehensive income | (162,146,967.38) | (108,130,959.68) |
Surplus reserve | 498,894,604.32 | 498,894,604.32 |
Accumulated loss | (3,312,739,377.14) | (3,561,804,350.54) |
TOTAL OWNERS' EQUITY | 8,368,754,013.21 | 8,173,705,047.51 |
TOTAL LIABILITIES AND OWNERS' EQUITY | 17,473,242,467.06 | 17,899,708,586.34 |
Sinochem Fertilizer Company Limited
Income Statement
The first Half of 2020
RMB Yuan
Item | H1 2020 | H1 2019 |
Operating income | 11,669,079,407.24 | 13,410,053,741.85 |
Less: Operating costs | 11,079,814,304.72 | 12,853,533,937.16 |
Taxes and surcharges | 4,871,583.55 | 4,229,089.59 |
Selling expenses | 274,250,325.47 | 289,007,141.36 |
Administrative expenses | 107,499,558.17 | 113,993,373.17 |
Research and development | 9,311,016.98 | 9,786,965.35 |
Financial expenses | 10,331,328.09 | 52,343,276.58 |
Credit losses | 2,097,166.47 | 3,382,392.00 |
Add: Other income | 75,000.00 | - |
Investment income | 65,835,643.24 | 135,611,299.62 |
Gain on disposal | - | 7,707.08 |
Operating profit | 246,814,767.03 | 219,396,573.34 |
Add: Non-operating income | 3,569,744.49 | 1,033,039.06 |
Less: Non-operating expenses | 1,319,538.12 | 88,578.84 |
Total amount of profit | 249,064,973.40 | 220,341,033.56 |
Less: Income tax expenses | - | - |
Net profit | 249,064,973.40 | 220,341,033.56 |
Other comprehensive income, net of tax | (54,016,007.70) | - |
Total comprehensive income | 195,048,965.70 | 220,341,033.56 |
Sinochem Fertilizer Company Limited
Cash Flow Statement
The first Half of 2020
RMB Yuan
Item | H1 2020 | H1 2019 |
1. Cash flows from operating activities | ||
Cash receipts from the sales of goods and the rendering of services | 12,721,757,619.32 | 13,981,604,778.98 |
Refund of tax and fee received | 14,860,478.28 | - |
Proceeds from other operating activities | 51,112,529.84 | 66,922,085.98 |
Sub-total of cash inflows | 12,787,730,627.44 | 14,048,526,864.96 |
Payment for goods and services | 11,067,131,982.35 | 13,301,505,286.22 |
Payment to and for employees | 206,371,107.23 | 202,952,420.94 |
Payment of various taxes | 28,172,436.15 | 20,674,310.05 |
Payment for other operating activities | 315,055,872.23 | 255,292,888.99 |
Sub-total of cash outflows | 11,616,731,397.96 | 13,780,424,906.20 |
Net cash flows from operating activities | 1,170,999,229.48 | 268,101,958.76 |
2. Cash flows from investing activities | ||
Proceeds from disposal of investments | 6,032,644,840.20 | 3,273,127,561.12 |
Investment returns received | 61,978,481.12 | 97,686,704.68 |
Net proceeds from disposal of fixed assets, and intangible assets | 4,463,926.73 | 5,931,339.41 |
Sub-total of cash inflows | 6,099,087,248.05 | 3,376,745,605.21 |
Payment for acquisition of fixed assets, intangible assets and other | ||
long-term assets | 19,460,438.48 | 8,704,553.25 |
Payment for acquisition of investments | 7,591,170,700.00 | 3,062,642,919.95 |
Sub-total of cash outflows | 7,610,631,138.48 | 3,071,347,473.20 |
Net cash flows from investing activities | (1,511,543,890.43) | 305,398,132.01 |
3. Cash flows from financing activities | ||
Proceeds from borrowings | 4,174,895,690.55 | 4,211,394,000.00 |
Sub-total of cash inflows | 4,174,895,690.55 | 4,211,394,000.00 |
Repayments of borrowings | 4,205,826,706.15 | 3,520,442,200.00 |
Payment for dividends, profit distributions or interest | 69,531,921.73 | 15,484,584.46 |
Other cash paid relating to financing activities | 16,171,434.04 | - |
Sub-total of cash outflows | 4,291,530,061.92 | 3,535,926,784.46 |
Net cash flows from financing activities | (116,634,371.37) | 675,467,215.54 |
4. Effect of foreign exchange rate changes on cash and cash | ||
equivalents | - | 737.53 |
5. Net increase / (decrease) in cash and cash equivalents | (457,179,032.32) | 1,248,968,043.84 |
Plus：Cash and bank balances at 1 January | 1,425,678,720.00 | 921,062,434.18 |
6. Cash and bank balances at 30 June | 968,499,687.68 | 2,170,030,478.02 |
Sinochem Fertilizer Company Limited
Consolidated Balance Sheet
30 June 2020
RMB Yuan
Item | 30 June 2020 | 31 December 2019 |
Current Assets | ||
Cash at bank and on hand | 1,130,311,316.93 | 1,584,588,380.48 |
Financial assets held for trading | 1,950,000,000.00 | 400,000,000.00 |
Accounts receivable | 157,723,430.01 | 41,450,318.02 |
Receivables under financing | 381,567,546.45 | 369,084,673.33 |
Prepayments | 1,251,258,042.24 | 1,391,491,694.21 |
Other receivables | 169,967,134.57 | 130,710,744.47 |
Inventories | 3,707,846,012.95 | 5,022,640,619.14 |
Other current assets | 1,069,817,985.28 | 1,279,830,908.20 |
Total Current Assets | 9,818,491,468.43 | 10,219,797,337.85 |
Non-Current Assets | ||
Long-term equity investments | 914,691,086.59 | 887,708,731.49 |
Investments in other equity instruments | 207,295,954.93 | 283,289,198.53 |
Fixed assets | 1,636,154,928.08 | 1,538,157,023.62 |
Construction in progress | 847,117,148.62 | 854,762,452.63 |
Right-of-use assets | 10,564,532.43 | 21,129,064.81 |
Intangible assets | 954,663,079.16 | 963,324,469.85 |
Development costs | 18,578,550.99 | 17,897,094.35 |
Goodwill | 531,073,744.64 | 531,073,744.64 |
Long-term deferred expenses | 24,889,627.27 | 23,627,662.07 |
Deferred tax assets | 85,989,506.12 | 68,515,008.25 |
Other non-current assets | 662,020,444.58 | 591,487,997.89 |
Total non-current assets | 5,893,038,603.41 | 5,780,972,448.13 |
TOTAL ASSETS | 15,711,530,071.84 | 16,000,769,785.98 |
Sinochem Fertilizer Company Limited
Consolidated Balance Sheet (continued)
30 June 2020
RMB Yuan
Item | 30 June 2020 | 31 December 2019 |
Current Liabilities | ||
Short-term loans | 60,000,000.00 | 527,815,500.00 |
Bills payable | 2,258,945,959.44 | 2,018,712,682.75 |
Accounts payable | 2,361,861,588.79 | 2,114,571,788.20 |
Contract liabilities | 1,449,808,857.63 | 2,267,403,401.16 |
Employee benefits payable | 40,069,869.09 | 42,006,475.66 |
Taxes payable | 101,669,200.17 | 59,671,177.02 |
Other payables | 395,796,221.19 | 586,081,943.68 |
Non-current liabilities due within one year | 5,430,301.62 | 21,601,735.66 |
Other current liabilities | 2,600,000,000.00 | 2,400,000,000.00 |
Total current liabilities | 9,273,581,997.93 | 10,037,864,704.13 |
Non-Current Liabilities | ||
Long-term employee benefits payable | 43,868,013.78 | 43,868,013.78 |
Provisions | 48,460,718.38 | 48,460,718.38 |
Deferred tax liabilities | 177,606,165.58 | 183,590,653.74 |
Deferred income | 115,270,938.45 | 86,917,826.31 |
Total non-current liabilities | 385,205,836.19 | 362,837,212.21 |
TOTAL LIABILITIES | 9,658,787,834.12 | 10,400,701,916.34 |
Owners' Equity | ||
Paid-in capital | 10,600,000,000.00 | 10,600,000,000.00 |
Capital reserves | 579,077,422.15 | 637,750,108.76 |
Other comprehensive income | (162,146,967.38) | (108,130,959.68) |
Specific reserve | 20,092,286.22 | 19,772,029.81 |
Surplus reserve | 487,741,563.04 | 487,741,563.04 |
Accumulated loss | (5,637,865,183.93) | (5,989,069,761.17) |
Total equity attributable to owners of the Company | 5,886,899,120.10 | 5,648,062,980.76 |
Non-controlling interests | 165,843,117.62 | (47,995,111.12) |
TOTAL OWNERS' EQUITY | 6,052,742,237.72 | 5,600,067,869.64 |
TOTAL LIABILITIES AND OWNERS' EQUITY | 15,711,530,071.84 | 16,000,769,785.98 |
Sinochem Fertilizer Company Limited
Consolidated Income Statement
The first Half of 2020
RMB Yuan
Item | H1 2020 | H1 2019 |
Operating income | 12,463,148,916.18 | 14,075,841,703.72 |
Less: Operating costs | 11,506,656,545.75 | 13,055,812,635.26 |
Taxes and surcharges | 16,545,026.21 | 17,970,276.79 |
Selling expenses | 385,959,686.23 | 427,808,945.19 |
Administrative expenses | 213,518,883.47 | 244,081,519.27 |
Research and development expenses | 13,809,471.32 | 12,309,631.01 |
Financial expenses | (27,744,618.41) | 39,418,337.89 |
Credit losses | 3,097,166.47 | 2,382,392.00 |
Impairment losses | - | 615,295.02 |
Add: Other income | 3,867,512.41 | 4,752,495.79 |
Investment income | 7,232,727.97 | 78,469,881.98 |
Gain/(Loss) on disposal | 1,461,273.26 | (170,438.13) |
Operating profit | 363,868,268.78 | 358,494,610.93 |
Add: Non-operating income | 8,537,248.57 | 5,215,445.67 |
Less: Non-operating expenses | 3,794,058.90 | 802,192.71 |
The total amount of profit | 368,611,458.45 | 362,907,863.89 |
Less: Income tax expenses | 11,921,082.67 | 7,435,838.49 |
Net profit | 356,690,375.78 | 355,472,025.40 |
Attributable to: | ||
Owners of the Company | 351,524,833.65 | 340,829,615.22 |
Non-controlling interests | 5,165,542.13 | 14,642,410.18 |
Other comprehensive income, net of tax | (54,016,007.70) | - |
Total comprehensive income | 302,674,368.08 | 355,472,025.40 |
Attributable to: | ||
Owners of the Company | 297,508,825.95 | 340,829,615.22 |
Non-controlling interests | 5,165,542.13 | 14,642,410.18 |
Sinochem Fertilizer Company Limited
Consolidated Cash Flow Statement
The first Half of 2020
RMB Yuan
Item | H1 2020 | H1 2019 |
1. Cash flows from operating activities | ||
Cash receipts from the sales of goods and the rendering of services | 13,502,152,479.27 | 14,755,426,586.27 |
Refund of tax and fee received | 21,981,607.85 | - |
Proceeds from other operating activities | 88,957,252.36 | 119,391,257.45 |
Sub-total of cash inflows | 13,613,091,339.48 | 14,874,817,843.72 |
Payment for goods and services | 11,114,182,604.50 | 13,677,198,466.12 |
Payment to and for employees | 388,980,581.09 | 386,234,297.48 |
Payment of various taxes | 74,476,513.65 | 53,228,422.58 |
Payment for other operating activities | 534,030,599.62 | 470,786,903.95 |
Sub-total of cash outflows | 12,111,670,298.86 | 14,587,448,090.13 |
Net cash flows from operating activities | 1,501,421,040.62 | 287,369,753.59 |
2. Cash flows from investing activities | ||
Proceeds from disposal of investments | 5,465,000,000.00 | 2,390,000,000.00 |
Investment returns received | 20,561,169.21 | 46,723,516.93 |
Net proceeds from disposal of fixed assets, and intangible assets | 5,917,273.26 | 5,766,167.73 |
Sub-total of cash inflows | 5,491,478,442.47 | 2,442,489,684.66 |
Payment for acquisition of fixed assets, intangible assets and other | 190,281,630.90 | 247,775,050.88 |
long-term assets | ||
Payment for acquisition of investments | 7,059,950,700.00 | 1,976,694,836.26 |
Sub-total of cash outflows | 7,250,232,330.90 | 2,224,469,887.14 | |
Net cash flows from investing activities | (1,758,753,888.43) | 218,019,797.52 | |
3. | Cash flows from financing activities | ||
Proceeds form investors | 150,000,000.00 | - | |
Proceeds from borrowings | 3,194,399,400.00 | 4,114,894,000.00 | |
Sub-total of cash inflows | 3,344,399,400.00 | 4,114,894,000.00 | |
Repayments of borrowings | 3,462,214,900.00 | 3,405,442,200.00 | |
Payment for dividends, profit distributions or interest | 62,612,850.89 | 17,934,787.13 | |
Other cash paid relating to financing activities | 16,171,434.04 | - | |
Sub-total of cash outflows | 3,540,999,184.93 | 3,423,376,987.13 | |
Net cash flows from financing activities | (196,599,784.93) | 691,517,012.87 | |
4. | Effect of foreign exchange rate changes on cash and cash | (344,430.81) | 792,578.17 |
equivalents | |||
5. | Net increase / (decrease) in cash and cash equivalents | (454,277,063.55) | 1,197,699,142.15 |
Plus：Cash and bank balances at 1 January | 1,584,588,380.48 | 1,039,375,220.02 | |
6. | Cash and bank balances at 30 June | 1,130,311,316.93 | 2,237,074,362.17 |
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Sinofert Holdings Limited published this content on 31 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2020 08:44:13 UTC
