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WANG TAI HOLDINGS LIMITED宏太控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1400) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTSRevenue decreased to approximately RMB132.6 million for the six months ended 30 June 2017, representing a decrease of 59.5%, as compared with revenue of RMB327.2 million for the six months ended 30 June 2016
Gross loss margin increased from 0.9% for the six months ended 30 June 2016, as compared to loss of approximately 5.2% for the six months ended 30 June 2017
Net loss margin increased from 10.3% for the six months ended 30 June 2016, as compared to loss of approximately 35.1% for the six months ended 30 June 2017
Loss attributable to owners of the Company increased to loss of approximately RMB46.5 million for the six months ended 30 June 2017, representing an increase of 37.6%, as compared with loss of RMB33.8 million for the six months ended 30 June 2016
Loss per share for the six months ended 30 June 2017 increased to loss of RMB0.03 cent as compared with loss per share of RMB0.02 cents for the six months ended 30 June 2016
No dividend will be declared for the six months ended 30 June 2017
Note | 2017 RMB'000 | 2016 RMB'000 | |
Revenue | 6 | 132,588 | 327,150 |
Cost of sales | 16 | (139,510) | (330,183) |
Gross loss | (6,922) | (3,034) | |
Selling expenses | 16 | (1,069) | (1,026) |
Administrative expenses | 16 | (10,075) | (18,582) |
Other (loss)/income - net | (175) | 1,144 | |
Operating loss | (18,241) | (21,498) | |
Finance income | 96 | 1,248 | |
Finance costs | (21,593) | (16,057) | |
Finance costs - net | 17 | (21,497) | (14,809) |
Share of loss of investments accounted for using equity method | 8 | (9,645) | - |
Loss before income tax | (49,383) | (36,307) | |
Income tax credit | 18 | 2,854 | 2,500 |
Loss for the period and attributable to the owners | (46,529) | (33,807) | |
Other comprehensive income | - | - | |
Total comprehensive loss for the period and attributable to the owners | (46,529) | (33,807) |
- Basic and diluted (0.03) (0.02)
Dividends 20 - -
The notes on pages 7 to 26 form an integral part of these consolidated interim financial information.
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETNote | Unaudited As at 30 June 2017 RMB'000 | Audited As at 31 December 2016 RMB'000 | ||
ASSETS Non-current assets Leasehold land and land use rights | 7 | 24,059 | 24,338 | |
Property, plant and equipment | 7 | 380,487 | 405,430 | |
Deferred income tax assets | 32,836 | 29,746 | ||
Available-for-sale financial assets | 4,500 | 4,500 | ||
Investment accounted for using equity method | 8 | 77,211 | 86,856 | |
519,093 | 550,870 | |||
Current assets Inventories | 9 | 58,180 | 49,937 | |
Trade and other receivables and prepayments | 10 | 662,635 | 686,189 | |
Cash and bank balances | 11 | 57,585 | 4,082 | |
Restricted bank deposits | 11 | 8,000 | 20,960 | |
786,400 | 761,168 | |||
Total assets | 1,305,493 | 1,312,038 | ||
EQUITY Capital and reserve attributable to owners of the Company | ||||
Share capital | 12 | 124,010 | 124,010 | |
Other reserves | 12 | 638,406 | 638,406 | |
Accumulated loss | (205,212) | (158,683) | ||
Total equity | 557,204 | 603,733 |
As at 31 December
2016
Note RMB'000 RMB'000
LIABILITIES Non-current liabilitiesBorrowings 13 242,328 277,988
Other payables 15 1,436 -
Deferred income 14 17,727 18,104
261,491 296,092 Current liabilitiesBorrowings 13 398,264 261,609
Trade and other payables 15 88,534 149,618 Current income tax liabilities - 986
486,798 412,213 Total liabilities 748,289 708,305 Total equity and liabilities 1,305,493 1,312,038The notes on pages 7 to 26 form an integral part of these consolidated interim financial information.
Wang Tai Holdings Ltd. published this content on 29 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 02:12:04 UTC.
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