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CHINA LONGEVITY GROUP COMPANY LIMITED中 國 龍 天 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1863) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 AND CONTINUAL SUSPENSION OF TRADINGThe board of directors (the "Board") of China Longevity Group Company Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period in 2016. The interim results had been reviewed by the audit committee of the Company and approved by the Board.
CONDENSED CONSOLIDATED STATEMENT COMPREHENSIVE INCOME For the six months ended 30 June 2017 | OF | PROFIT | OR LOSS AND OTHER |
Six months ended 30 June | |||
Notes | 2017 2016 RMB'000 RMB'000 (Unaudited) (Unaudited) | ||
REVENUE | 5 | 245,065 240,582 | |
Cost of sales | (195,489) (196,767) | ||
GROSS PROFIT | 49,576 43,815 | ||
Other income and gains | 6 | 5,343 6,307 | |
Selling and distribution costs | (6,343) (6,766) | ||
Administrative expenses | (31,308) (28,479) | ||
Other expenses | (838) (3,889) | ||
PROFIT FROM OPERATIONS | 16,430 10,988 | ||
Finance costs | 7 | (4,043) (6,721) | |
PROFIT BEFORE TAX | 8 | 12,387 4,267 | |
Income tax expense | 9 | (2,147) (9) | |
PROFIT FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE COMPANY | 10,240 4,258 |
Items that may be reclassified to profit or loss:
Exchange differences on translation of non-PRC operations 303 1,176
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE COMPANY 10,543 5,434 EARNINGS PER SHARE (RMB cents) 11- Basic 1.20 0.50
- Diluted 1.20 0.50
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017
Notes | As at 30 June 2017 RMB'000 (Unaudited) | As at 31 December 2016 RMB'000 (Audited) | |
Non-current assets Property, plant and equipment | 435,529 | 456,947 | |
Prepaid land lease payments | 17,371 | 17,694 | |
Investment properties | 15,000 | 15,000 | |
Intangible assets Deposits paid for acquisition of property, plant and equipment | 550 6,625 | 550 6,722 | |
Available-for-sale investment | 4,140 | 4,140 | |
Deferred tax assets | 5,131 | 5,285 | |
Total non-current assets | 484,346 | 506,338 | |
Current assets Inventories | 85,323 | 74,007 | |
Trade receivables | 12 | 81,462 | 86,476 |
Prepayments, deposits and other receivables | 8,567 | 12,955 | |
Pledged deposits | 52,260 | 41,927 | |
Cash and cash equivalents | 40,481 | 15,008 | |
268,093 | 230,373 | ||
Non-current assets classified as held for sale | 28,437 | 28,437 | |
Total current assets | 296,530 | 258,810 | |
Current liabilities Trade and bills payables | 13 | 254,933 | 232,312 |
Other payables and accruals | 105,597 | 112,281 | |
Interest-bearing borrowings | 14 | 142,000 | 152,000 |
Deferred income | 360 | 360 | |
Due to directors | 19,430 | 21,510 | |
Due to a related party | 14,000 | 14,000 | |
Current tax liabilities | 15,988 | 14,480 | |
Total current liabilities | 552,308 | 546,943 | |
Net current liabilities | (255,778) | (288,133) | |
Total assets less current liabilities | 228,568 | 218,205 |
Notes | As at 30 June 2017 RMB'000 (Unaudited) | As at 31 December 2016 RMB'000 (Audited) |
Non-current liabilities Deferred income | 870 | 1,050 |
Deferred tax liabilities | 2,711 | 2,711 |
Total non-current liabilities | 3,581 | 3,761 |
NET ASSETS | 224,987 | 214,444 |
Capital and reserves Attributable to owners of the Company Issued capital | 747 | 747 |
Reserves | 224,240 | 213,697 |
TOTAL EQUITY | 224,987 | 214,444 |