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CHINA ENVIRONMENTAL RESOURCES GROUP LIMITED
中 國 環 境 資 源 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1130)
ANNOUNCEMENT OF ANNUAL RESULTS
FOR THE YEAR ENDED 30 JUNE 2021
The board of directors (the "Board") of China Environmental Resources Group Limited (the "Company") announces the annual audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 30 June 2021 together with comparative figures for the year ended 30 June 2020.
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 30 June 2021
2021 | 2020 | ||||||
Notes | HK$'000 | HK$'000 | |||||
Revenue | 3 | 77,878 | 75,406 | ||||
Cost of sales | (58,011) | (56,620) | |||||
Gross profit | 19,867 | 18,786 | |||||
Other income | 5 | 2,739 | 964 | ||||
Administrative and operating expenses | (41,210) | (45,001) | |||||
Fair value gain/(loss) on investment properties | 1,900 | (15,322) | |||||
Loss arising from changes in fair value less costs to | |||||||
sell of biological assets | (8,245) | (4,814) | |||||
Net loss on fair value changes on investments at | |||||||
fair value through profit or loss | (4,733) | (2,914) | |||||
Provision for impairment loss of right-of-use assets | (9,549) | - | |||||
Provision for impairment loss of intangible assets | (3,800) | - | |||||
Provision for impairment loss of inventories | (404) | - | |||||
Provision for impairment loss of receivables | (4,152) | (6,337) | |||||
Loss from operations | (47,587) | (54,638) | |||||
Finance costs | 6 | (2,469) | (2,144) | ||||
Loss before tax | (50,056) | (56,782) | |||||
Income tax credit | 7 | 1,114 | 1,008 | ||||
Loss for the year | 8 | (48,942) | (55,774) | ||||
Other comprehensive income/(loss) after tax: | |||||||
Item that may be reclassified to profit or loss: | |||||||
Exchange differences on translation of foreign | |||||||
operations | 30,913 | (12,423) | |||||
Other comprehensive income/(loss) for the year, net | |||||||
of tax | 30,913 | (12,423) | |||||
Total comprehensive loss for the year | (18,029) | (68,197) | |||||
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2021 | 2020 | ||||||
Notes | HK$'000 | HK$'000 | |||||
Loss for the year attributable to: | |||||||
Owners of the Company | (46,102) | (55,558) | |||||
Non-controlling interests | (2,840) | (216) | |||||
(48,942) | (55,774) | ||||||
Total comprehensive loss for the year attributable to: | |||||||
Owners of the Company | (16,058) | (67,610) | |||||
Non-controlling interests | (1,971) | (587) | |||||
(18,029) | (68,197) | ||||||
Loss per share | 9 | ||||||
Basic (HK cents per share) | (2) | (3) | |||||
Diluted (HK cents per share) | (2) | (3) | |||||
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 June 2021
2021 | 2020 | |||
Notes | HK$'000 | HK$'000 | ||
Non-current assets | ||||
Property, plant and equipment | 7,740 | 10,203 | ||
Right-of-use assets | 21,716 | 28,057 | ||
Investment properties | 267,534 | 259,002 | ||
Biological assets | 11 | 264,209 | 248,759 | |
Intangible assets | 89,893 | 90,792 | ||
Goodwill | 1,087 | 1,087 | ||
Investments at fair value through profit or loss | 13 | 17,203 | - | |
Loans receivable | - | 3,380 | ||
669,382 | 641,280 | |||
Current assets | ||||
Inventories | 25,264 | 22,804 | ||
Trade and other receivables | 12 | 60,728 | 66,859 | |
Loans receivable | 12,142 | 14,808 | ||
Investments at fair value through profit or loss | 13 | 1,129 | 1,696 | |
Refundable secured deposit | 12,000 | 12,000 | ||
Bank and cash balances | 19,005 | 2,951 | ||
130,268 | 121,118 | |||
Current liabilities | ||||
Trade and other payables | 14 | 32,987 | 31,723 | |
Contract liabilities | 6,700 | 4,834 | ||
Lease liabilities | 10,948 | 4,085 | ||
Borrowings | 71,787 | 26,000 | ||
Bank overdrafts | - | 3,679 | ||
Current tax liabilities | 2,867 | 3,115 | ||
125,289 | 73,436 | |||
Net current assets | 4,979 | 47,682 | ||
Total assets less current liabilities | 674,361 | 688,962 | ||
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2021 | 2020 | |||
Notes | HK$'000 | HK$'000 | ||
Non-current liabilities | ||||
Lease liabilities | 26,600 | 26,310 | ||
Borrowings | - | 1,500 | ||
Deferred tax liabilities | 88,060 | 83,420 | ||
114,660 | 111,230 | |||
NET ASSETS | 559,701 | 577,732 | ||
Capital and reserves | ||||
Share capital | 15 | 40,731 | 40,731 | |
Reserves | 508,364 | 524,427 | ||
Equity attributable to owners of the Company | 549,095 | 565,158 | ||
Non-controlling interests | 10,606 | 12,574 | ||
TOTAL EQUITY | 559,701 | 577,732 | ||
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