RENAISSANCE ASIA SILK ROAD GROUP LIMITED (Incorporated in the Cayman Islands with limited liability) (Stock code: 274)
Corporate Information 2
Management Discussion and Analysis 3
Corporate Governance and Other Information 7
Condensed Consolidated:
Statement of Profit or Loss and Other Comprehensive Income 12
Statement of Financial Position 13
Statement of Changes in Equity 14
Statement of Cash Flows 15
Notes to the Condensed Consolidated Financial Statements 16
CORPORATE INFORMATION
BOARD OF DIRECTORS
Executive Directors
Mr. Long Xiaobo (Chairman)
Mr. Zuo Weiqi (Chief Executive Officer)
Mr. Chen Yi Chung
Mr. Xiao Jie (appointed on 31 August 2015)
Independent Non-executive Directors
Mr. Jin Shunxing
Mr. Chiang Tsung-Nien Ms. Liu Shuang
AUDIT COMMITTEE
Mr. Jin Shunxing
(Chairman of Audit Committee)
Mr. Chiang Tsung-Nien Ms. Liu Shuang
REMUNERATION COMMITTEE
Mr. Jin Shunxing
(Chairman of Remuneration Committee)
Mr. Chiang Tsung-Nien Ms. Liu Shuang
Mr. Long Xiaobo
NOMINATION COMMITTEE
Mr. Long Xiaobo
(Chairman of Nomination Committee)
Mr. Chiang Tsung-Nien Mr. Jin Shunxing
Ms. Liu Shuang Mr. Zuo Weiqi
COMPANY SECRETARY
Mr. Cheung Yuk Chuen
AUTHORISED REPRESENTATIVES
Mr. Chen Yi Chung Mr. Zuo Weiqi
REGISTERED OFFICE
Cricket Square, Hutchins Drive
P.O. Box 2681
Grand Cayman KY1-1111 Cayman Islands
HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS
Room 2811, 28/F China Merchants Tower
No.168-200 Connaught Road Central Hong Kong
HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE
Tricor Tengis Limited Level 22, Hopewell Centre 183 Queen's Road East Hong Kong
AUDITORS
ZHONGHUI ANDA CPA Limited
Unit 701, 7/F., Citicorp Centre 18 Whitfield Road
Causeway Bay Hong Kong
COMPANY'S WEBSITE
www.chinabillion.net
STOCK CODE
274
PRINCIPAL BANKERS
The Hongkong and Shanghai Banking Corporation Limited
1 Queen's Road Central Hong Kong
INTERIM REPORT 2015
MANAGEMENT DISCUSSION AND ANALYSIS
BUSINESS AND FINANCIAL REVIEW
China Billion Resources Limited ("Company") and its subsidiaries (collectively as "Group") is principally engaged in gold mining, exploration and trading of gold products in the People's Republic of China ("PRC") and provision of beauty treatment services and trading of cosmetic and skincare products in Hong Kong.
During the six months ended 30 June 2015 ("Reporting Period"), the Group recorded a total turnover of approximately HK$16.0 million, which represented an approximately 19.0% decrease as compared with approximately HK$19.8 million for the six months ended 30 June 2014 ("Corresponding Period").
The revenue contributed by the mining products business segment during the Reporting Period was approximately HK$4.5 million, representing an approximately 50.5% decrease as compared with approximately HK$9.1 million for the Corresponding Period. Since year 2014, the management of the Group ("Management") has gradually re-assessed the exploration process in order to identify the high potential gold-bearing areas in the Group's Yuanling gold project ("Gold Mine") in Hunan Province, the PRC. The Management studied the relevant geological data and the existing tunnel structure of the Gold Mine. During the Reporting Period, the Group had been continuingly making further investment in modifying the existing tunnel structure and exploration process of the Gold Mine.
The revenue contributed by the cosmetic and skincare products business segment for the Reporting Period was approximately HK$11.5 million, representing an approximately 8.5% increase as compared with approximately HK$10.6 million for the Corresponding Period. The increase in turnover in this segment was mainly due to the Group's diligent efforts in marketing and promotion through our beauty salon outlets in Hong Kong.
The gross profit for the Reporting Period was approximately HK$11.1 million, which represented a decrease of approximately 29.3% as compared with approximately HK$15.7 million in the Corresponding Period. The decrease in gross profit was mainly due to the decrease in the production of the mining products.
The loss for the Reporting Period for the Group was approximately HK$25.1 million as compared with approximately HK$24.7 million for the Corresponding Period.
CHINA BILLION RESOURCES LIMITED
China Billion Resources Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 January 2016 16:43:16 UTC
Original Document: http://www.chinabillion.net/en/doc/2016 English/(006) Interim report of the Company for the six months ended 30 June 2015 (Eng).pdf
