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China Conch Venture Holdings Limited ʕऎᑮ௴ุછٰϞࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 586)
ANNOUNCEMENT REGARDING THE PUBLICATION OF ANNOUNCEMENT
ON THE 2021 ANNUAL RESULTS
BY ANHUI CONCH CEMENT COMPANY LIMITED
This announcement is made pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance.
The Board notes that Conch Cement published on 25 March 2022 an announcement on its consolidated annual results for FY2021.
Having taken into account the holding of approximately 36.40% equity interest in Conch Cement by Conch Holdings (which in turn is an associate of the Group and whose 49% equity interest is indirectly owned by the Group) and the level of the Group's profit attributable to Conch Holdings for FY2020 and 1H2021, the Group would summarise in the main text of this announcement some key financial data of Conch Cement for FY2021.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
This announcement is made by China Conch Venture Holdings Limited (''Company'', which together with its subsidiaries are collectively referred to as the ''Group'') pursuant to Rule 13.09 of the Rules (''Listing Rules'') Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited 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).
As at the date of this announcement, the Group is indirectly interested in 49% equity interest in 安徽海螺集團有限責任公司 (Anhui Conch Holdings Co. Ltd.*, ''Conch Holdings''), which in turn is interested in approximately 36.40% equity interest in Anhui Conch Cement Company Limited (''Conch Cement'', Hong Kong Stock Exchange stock code: 00914, Shanghai Stock Exchange stock code: 600585).
The board (''Board'') of directors (''Directors'') of the Company notes that Conch Cement published on 25 March 2022 an announcement (''Cement Announcement'') on its consolidated annual results for the year ended 31 December 2021 (''FY2021'').
As disclosed in the Company's annual report previously published for the year ended 31 December 2020 (''FY2020'') and its interim report for the six months ended 30 June 2021 (''1H2021''), the Group derived a substantial portion of its profit for FY2020 and 1H2021 from its equity interests in Conch Holdings, an associate of the Company. During such periods, the share of profit of Conch Holdings accounted for 82.1% and 77.2% of the Group's profit, respectively.
Having taken into account the above factors, the Group would summarise in the following some key financial data of Conch Cement for FY2021, together with the comparative figures for FY2020, which are prepared in accordance with the International Financial Reporting Standards and extracted from the Cement Announcement:
For FY2021 | For FY2020 | |
RMB'000 | RMB'000 | |
(Restated) | ||
Turnover | 167,952,664 | 176,294,715 |
Gross profit | 48,563,677 | 50,199,100 |
Profit before taxation | 44,151,874 | 47,173,098 |
Profit for the year | 34,201,513 | 36,436,086 |
For further details, shareholders of the Company and potential investors are requested to refer to the Cement Announcement.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in shares in the Company.
By Order of the Board
China Conch Venture Holdings Limited
CHEN Xingqiang
Joint Company Secretary
Anhui Province, the People's Republic of China
25 March 2022
As at the date of this announcement, the Board comprises Mr. JI Qinying (Chief Executive Officer), Mr. LI Jian and Mr. LI Daming as executive Directors; Mr. GUO Jingbin (Chairman), Mr. SHU Mao and Mr. YU Kaijun as non-executive Directors; and Mr. CHAN Chi On (alias Derek CHAN), Mr. CHAN Kai Wing and Mr. LAU Chi Wah, Alex as independent non-executive Directors.
*
For identification purpose only
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China Conch Venture Holdings Ltd. published this content on 25 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2022 14:56:34 UTC.