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COOLPAD GROUP LIMITED ბݼණྠϞࠢʮ̡
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2369)
2017 ANNOUNCEMENT OF FINAL RESULTS
The board (the "Board") of directors (the "Directors") of Coolpad Group Limited (the "Company") announces the consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2017, together with the comparative figures for the year ended 31 December 2016.
Financial Highlights
Year ended 31 December
2017 | 2016 | Changes | |
HK$'000 | HK$'000 | (%) | |
Revenue | 3,378,077 | 7,969,477 | -57.61 |
Loss before tax | (2,702,251) | (4,356,068) | -37.97 |
Loss for the year attributable | |||
to owners of the Company | (2,674,457) | (4,379,631) | -38.93 |
Basic Loss per share | HK(53.14) cents | HK(89.82) cents | -40.84 |
Diluted Loss per share | HK(53.14) cents | HK(89.82) cents | -40.84 |
1 |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Year ended 31 December 2017
2017 | 2016 | ||
Notes | HK$'000 | HK$'000 | |
REVENUE | 4 | 3,378,077 | 7,969,477 |
Cost of sales | (3,696,480) | (7,614,994) | |
Gross (loss)/profit | (318,403) | 354,483 | |
Other income and gains | 4 | 367,440 | 449,889 |
(Loss)/gain on loss of control of subsidiaries | (534) | 154,089 | |
Loss on disposal of an investment in a joint venture | - | (1,837,114) | |
Impairment of investments in associates | 11 | (453,694) | (793,445) |
Selling and distribution expenses | (667,863) | (1,009,958) | |
Administrative expenses | (709,261) | (954,989) | |
Other expenses | (752,782) | (324,182) | |
Finance costs | 6 | (26,248) | (83,995) |
Share of losses of: | |||
Joint ventures | (3,765) | (138,969) | |
Associates | (137,141) | (171,877) | |
LOSS BEFORE TAX | 5 | (2,702,251) | (4,356,068) |
Income tax expense | 7 | (20,825) | (45,352) |
LOSS THE YEAR | (2,723,076) | (4,401,420) | |
continued/... |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (continued)
2017 | 2016 | ||
Notes | HK$'000 | HK$'000 | |
OTHER COMPREHENSIVE INCOME/(EXPENSE) | |||
Other comprehensive income/(expense) to be reclassified to | |||
profit or loss in subsequent periods: | |||
Changes in fair value of available-for-sale investments: | 377 | (425) | |
Exchange differences on translation of foreign operations | 40,113 | (132,276) | |
Reclassification adjustment for a foreign operation | |||
disposed of during the year | 111 | 19,048 | |
Share of other comprehensive income/(expense) of: | |||
Joint ventures | 6,560 | (493) | |
Associates | 21,549 | (28,277) | |
Other comprehensive income/(expense) to be reclassified to | |||
profit or loss in subsequent periods | 68,710 | (142,423) | |
Other comprehensive (expense)/income not to be reclassified to | |||
profit or loss in subsequent periods: | |||
(Loss)/gain on property revaluation | (37,059) | 37,135 | |
Income tax effect | 5,940 | (6,773) | |
Net other comprehensive (expense)/income not to be | |||
reclassified to profit or loss in subsequent periods | (31,119) | 30,362 | |
OTHER COMPREHENSIVE INCOME/(EXPENSE) | |||
FOR THE YEAR, NET OF TAX | 37,591 | (112,061) | |
TOTAL COMPREHENSIVE EXPENSE FOR THE YEAR | (2,685,485) | (4,513,481) | |
Loss attributable to: | |||
Owners of the Company | (2,674,457) | (4,379,631) | |
Non-controlling interests | (48,619) | (21,789) | |
(2,723,076) | (4,401,420) | ||
Total comprehensive expense attributable to: | |||
Owners of the Company | (2,636,943) | (4,481,811) | |
Non-controlling interests | (48,542) | (31,670) | |
(2,685,485) | (4,513,481) | ||
LOSS PER SHARE ATTRIBUTABLE | 9 | HK cents | HK cents |
TO ORDINARY EQUITY HOLDERS OF THE COMPANY | |||
Basic | (53.14) | (89.82) | |
Diluted | (53.14) | (89.82) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2017
2017 | 2016 | ||
Notes | HK$'000 | HK$'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 943,870 | 997,534 | |
Investment properties | 120,013 | 106,427 | |
Prepaid land lease payments | 271,171 | 348,646 | |
Intangible assets | 12,855 | 26,451 | |
Investments in joint ventures | 10 | 106,677 | 108,288 |
Investments in associates | 11 | 448,468 | 1,050,857 |
Available-for-sale investments | 34,921 | 31,068 | |
Loans receivable | 18,266 | 25,001 | |
Other non-current assets | 26,825 | 41,062 | |
Deferred tax assets | 8,278 | 5,698 | |
Total non-current assets | 1,991,344 | 2,741,032 | |
CURRENT ASSETS | |||
Inventories | 395,569 | 1,395,870 | |
Trade receivables | 12 | 616,478 | 860,599 |
Bills receivable | 13 | 11,572 | 82,491 |
Short-term loans receivable | 64,710 | 369,545 | |
Prepayments, deposits and other receivables | 14 | 1,160,450 | 2,540,530 |
Due from directors | - | 500 | |
Due from associates | 43,801 | 11,261 | |
Due from other related parties | - | 182,683 | |
Pledged deposits | 115,776 | 361,811 | |
Cash and cash equivalents | 451,130 | 1,308,082 | |
Total current assets | 2,859,486 | 7,113,372 | |
CURRENT LIABILITIES | |||
Trade payables | 15 | 756,397 | 1,784,925 |
Bills payable | 16 | 45,934 | 1,321,077 |
Other payables and accruals | 1,886,662 | 1,605,686 | |
Interest-bearing bank and other borrowings | 684,966 | 1,123,095 | |
Due to associates | 277,082 | 268,420 | |
Due to a joint venture | - | 4,406 | |
Due to other related party | - | 50,538 | |
Tax payable | 113,909 | 90,734 | |
Total current liabilities | 3,764,950 | 6,248,881 | |
NET CURRENT (LIABILITIES)/ASSETS | (905,464) | 864,491 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,085,880 | 3,605,523 | |
continued/... | |||
4 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
2017 | 2016 | |
HK$'000 | HK$'000 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,085,880 | 3,605,523 |
NON-CURRENT LIABILITIES | ||
Interest-bearing bank and other borrowings | 239,260 | - |
Deferred tax liabilities | 55,823 | 57,493 |
Other non-current liabilities | 1,381 | 9,720 |
Total non-current liabilities | 296,464 | 67,213 |
Net assets | 789,416 | 3,538,310 |
EQUITY | ||
Equity attributable to owners of the Company | ||
Issued capital | 50,334 | 50,326 |
Reserves | 793,592 | 3,492,582 |
843,926 | 3,542,908 | |
Non-controlling interests | (54,510) | (4,598) |
Total equity | 789,416 | 3,538,310 |
Notes