YINGDE GASES GROUP CO LTD 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.
Yingde Gases Group Company Limited盈 德 氣 體 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code : 02168) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTSRevenue of our Group in 2016 was RMB8,404 million, representing an increase of 6.1% from 2015.
Profit/Loss attributable to equity shareholders of our Company in 2016 was a loss of RMB143 million.
Net cash flow generated from operating activities of our Group in 2016 was RMB1,884 million, representing an increase of 37.1% from 2015.
Capital expenditure of our Group in 2016 was RMB928 million, representing a decrease of 17.4% from 2015.
Basic earnings per share was a loss of RMB0.08.
This announcement is made by Yingde Gases Group Company Limited (the "Company") pursuant to Rule 13.49(3) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).
RESULTSThe board of directors (the "Board") of the Company (together with its subsidiaries are referred to as the "Group") is pleased to announce the annual results of our Group and to report on our Group's performance for the year ended 31 December 2016 as follows:
FINANCIAL INFORMATIONFinancial information below is extracted from the audited consolidated financial statements of our Group for the year ended 31 December 2016, together with comparative figures for the year ended 31 December 2015, prepared in accordance with International Financial Reporting Standards ("IFRSs"):
Consolidated statement of profit or loss and other comprehensive incomefor the year ended 31 December 2016 (Expressed in Renminbi)
2016 | 2015 | |||
Note | RMB'000 | RMB'000 | ||
Revenue | 4 | 8,403,932 | 7,918,861 | |
Cost of sales | (5,850,474) | (5,368,593) | ||
Gross profit | 2,553,458 | 2,550,268 | ||
Other income | 52,196 | 32,875 | ||
Selling expenses | (159,621) | (207,204) | ||
Administrative expenses | (474,118) | (500,770) | ||
Impairment loss on property, plant and equipment | ||||
and construction in progress | 5 | (611,912) | - | |
Profit from operations | 1,360,003 | 1,875,169 | ||
Finance income | 6(a) | 79,519 | 30,851 | |
Finance costs | 6(a) | (1,016,836) | (968,324) | |
Share of results of associates | (49,750) | 13,881 | ||
Share of results of joint ventures | (18) | (1,087) | ||
Profit before taxation | 6 | 372,918 | 950,490 | |
Income tax | 7 | (521,094) | (417,785) | |
(Loss)/profit and total | ||||
comprehensive income for the year | (148,176) | 532,705 | ||
Attributable to: | ||||
Equity shareholders of the Company | (142,589) | 535,941 | ||
Non-controlling interests | (5,587) | (3,236) | ||
(Loss)/profit and total | ||||
comprehensive income for the year | (148,176) | 532,705 | ||
(Loss)/earnings per share (RMB cents) | 8 | |||
Basic | (8.0) | 30.0 | ||
Diluted | (8.0) | 30.0 | ||
at 31 December 2016 (Expressed in Renminbi)
2016 | 2015 | |||
Note | RMB'000 | RMB'000 | ||
Non-current assets | ||||
Property, plant and equipment, net | 5 | 10,632,823 | 10,274,282 | |
Construction in progress | 5 | 2,085,920 | 3,013,037 | |
Lease prepayments | 407,286 | 416,483 | ||
Intangible assets | 40,964 | 47,863 | ||
Receivables under finance leases | 9,628 | 10,638 | ||
Interest in associates | 184,001 | 518,671 | ||
Interest in joint ventures | 249,434 | 263,694 | ||
Other non-current assets | 1,273,515 | 1,081,786 | ||
Deferred tax assets | 7(d) | 138,509 | 165,006 | |
Total non-current assets | 15,022,080 | 15,791,460 | ||
Current assets | ||||
Inventories | 108,443 | 102,422 | ||
Trade and other receivables | 9 | 2,049,518 | 2,682,864 | |
Receivables under finance leases | 2,117 | 2,117 | ||
Income tax recoverable | 7(c) | 5,209 | 7,604 | |
Other financial assets | 68,587 | - | ||
Pledged bank deposits | 1,229,769 | 309,526 | ||
Cash and cash equivalents | 736,855 | 678,450 | ||
Total current assets | 4,200,498 | 3,782,983 | ||
Current liabilities | ||||
Borrowings | 3,878,769 | 1,603,338 | ||
Trade and other payables | 10 | 1,849,207 | 2,285,508 | |
Obligations under finance leases | 223,674 | 190,241 | ||
Income tax payable | 7(c) | 242,300 | 184,940 | |
Total current liabilities | 6,193,950 | 4,264,027 | ||
Net current liabilities | (1,993,452) | (481,044) | ||
Total assets less current liabilities | 13,028,628 | 15,310,416 | ||
at 31 December 2016 (Expressed in Renminbi)
2016 | 2015 | |||
Note | RMB'000 | RMB'000 | ||
Non-current liabilities | ||||
Borrowings | 6,505,224 | 8,060,162 | ||
Obligations under finance leases | 115,892 | 224,855 | ||
Other non-current liabilities | 56,777 | 53,376 | ||
Deferred tax liabilities | 7(d) | 101,962 | 93,431 | |
Total non-current liabilities | 6,779,855 | 8,431,824 | ||
Net assets | 6,248,773 | 6,878,592 | ||
Equity | ||||
Share capital | 12 | 12 | ||
Reserves | 6,083,420 | 6,707,652 | ||
Total equity attributable to equity | ||||
shareholders of the Company | 6,083,432 | 6,707,664 | ||
Non-controlling interests | 165,341 | 170,928 | ||
Total equity | 6,248,773 | 6,878,592 | ||
Yingde Gases Group Co. Ltd. published this content on 13 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 April 2017 14:53:16 UTC.
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