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MINTH GROUP LIMITED ઽྼණྠϞࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 425)
FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2018
FINANCIAL HIGHLIGHTS
• Revenue increased by approximately 10.3% to approximately RMB12,553.2 million (2017: approximately RMB11,384.5 million).
• Gross profit rose by approximately 4.5% to approximately RMB4,023.0 million (2017: approximately RMB3,849.5 million).
• Profit attributable to owners of the Company decreased by approximately 18.0% to approximately RMB1,660.6 million (2017: approximately RMB2,025.3 million).
• Basic earnings per share decreased to approximately RMB1.451 (2017: approximately RMB1.782).
• Proposed final dividend amounted to HK$0.661 per share (2017: HK$0.850).
• Capital expenditure increased by approximately 4.0% to approximately RMB2,226.6 million (2017: approximately RMB2,140.8 million).
• Consolidated net asset value increased by approximately 8.3% to approximately RMB13,428.7 million (2017: approximately RMB12,398.1 million).
The board (the "Board") of directors (the "Directors") of Minth Group Limited (the "Company") is pleased to announce the audited consolidated financial results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 (the "Review Year"), together with the comparative figures for the year ended 31 December 2017 reviewed by the audit committee of the Company ("Audit Committee") as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2018
2018 | 2017 | ||
NOTES | RMB'000 | RMB'000 | |
Revenue | 3 | 12,553,202 | 11,384,495 |
Cost of sales | (8,530,179) | (7,535,027) | |
Gross profit | 4,023,023 | 3,849,468 | |
Investment income | 108,881 | 88,845 | |
Other income | 179,284 | 263,965 | |
Other gains and losses | 4 | (87,162) | 146,643 |
Distribution and selling expenses | (519,675) | (480,788) | |
Administrative expenses | (941,098) | (851,590) | |
Research expenditure | (590,609) | (463,682) | |
Interest expenses | (137,507) | (94,915) | |
Share of (losses) profits of joint ventures | (6,410) | 2,426 | |
Share of profits of associates | 17,347 | 27,924 | |
Profit before tax | 2,046,074 | 2,488,296 | |
Income tax expense | 5 | (333,534) | (395,564) |
Profit for the year | 6 | 1,712,540 | 2,092,732 |
Other comprehensive income: | |||
Item that will not be reclassified to profit or loss: | |||
Gain on remeasurement of defined benefit | |||
obligation | 3,093 | 2,173 |
NOTE
2018 RMB'000
2017 RMB'000
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of foreign operations
Fair value (loss) gain on: available-for-sale investments debt instruments measured at fair value through other comprehensive income Income tax relating to items that may be
55,154 51,487
- 66,615
(19)
-
reclassified subsequently - (9,992) Cumulative gain reclassified to profit or loss upon disposal of available-for-sale
investments, net of income tax - (85,580)Other comprehensive income for the year, net ofincome tax
58,228
24,703
Total comprehensive income for the year
Profit for the year attributable to:
Owners of the Company Non-controlling interestsTotal comprehensive income for the year attributable to:
Owners of the Company Non-controlling interests
1,770,768 2,117,435
1,660,636 2,025,254
51,904
67,478
1,712,540 2,092,732
1,714,470 2,049,162
56,298 1,770,768
68,273 2,117,435
Earnings per share
8
Basic
RMB1.451 RMB1.782
Diluted
RMB1.440 RMB1.761
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2018
2018 | 2017 | ||
NOTES | RMB'000 | RMB'000 | |
Non-current assets | |||
Property, plant and equipment | 7,933,121 | 6,246,257 | |
Prepaid lease payments | 745,629 | 745,002 | |
Goodwill | 97,505 | 83,228 | |
Other intangible assets | 63,281 | 49,978 | |
Interests in joint ventures | 98,720 | 105,768 | |
Interests in associates | 215,062 | 355,001 | |
Derivative financial assets | - | 30,507 | |
Loan receivables | 6,000 | 6,021 | |
Deferred tax assets | 149,208 | 104,962 | |
Prepayment for acquisition of a subsidiary | - | 69,195 | |
Prepayment for acquisition of property, plant | |||
and equipment | 163,611 | 255,826 | |
Contract assets | 11 | 582,333 | - |
Contract costs | 64,981 | - | |
Plan assets | 1,788 | - | |
10,121,239 | 8,051,745 | ||
Current assets | |||
Prepaid lease payments | 19,352 | 18,911 | |
Inventories | 9 | 1,974,480 | 2,077,761 |
Loan receivables | 2,000 | 20,816 | |
Property under development | 15,347 | 55,352 | |
Trade and other receivables | 10 | 4,207,395 | 4,017,330 |
Derivative financial assets | 4,878 | 1,202 | |
Debt instruments at fair value through other | |||
comprehensive income | 335,864 | - | |
Pledged bank deposits | 65,663 | 16,244 | |
Bank balances and cash | 4,521,870 | 3,849,601 | |
11,146,849 | 10,057,217 |
2018 | 2017 | ||
NOTE | RMB'000 | RMB'000 | |
Current liabilities | |||
Trade and other payables | 12 | 3,291,632 | 2,890,107 |
Tax liabilities | 136,218 | 133,237 | |
Borrowings | 4,091,130 | 2,493,574 | |
Contract liabilities | 72,685 | - | |
Derivative financial liabilities | 1,170 | 25,737 | |
7,592,835 | 5,542,655 | ||
Net current assets | 3,554,014 | 4,514,562 | |
Total assets less current liabilities | 13,675,253 | 12,566,307 | |
Capital and reserves | |||
Share capital | 114,902 | 114,425 | |
Share premium and reserves | 13,045,512 | 11,998,709 | |
Equity attributable to owners of the Company | 13,160,414 | 12,113,134 | |
Non-controlling interests | 268,292 | 284,971 | |
Total equity | 13,428,706 | 12,398,105 | |
Non-current liabilities | |||
Deferred tax liabilities | 67,405 | 48,265 | |
Retirement benefit obligation | 15,471 | 15,646 | |
Derivative financial liabilities | 759 | 2,879 | |
Other long-term liability | 162,912 | 101,412 | |
246,547 | 168,202 | ||
13,675,253 | 12,566,307 |
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Minth Group Limited published this content on 20 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 March 2019 14:29:03 UTC