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COOLPAD GROUP LIMITED
酷 派 集 團 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2369)
2018 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 2018, together with the comparative figures for the year ended 31 December 2017.
Financial Highlights | |||
Year ended 31 December | |||
2018 | 2017 | Changes | |
HK$'000 | HK$'000 | (%) | |
Revenue | 1,277,164 | 3,378,077 | -62.19 |
Loss before tax | (419,408) | (2,702,251) | -84.48 |
Loss for the year attributable | |||
to owners of the Company | (409,321) | (2,674,457) | -84.70 |
Basic and diluted loss per share | HK(8.13) cents | HK(53.14) cents | -84.70 |
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Year ended 31 December 2018
2018 | 2017 | ||||
Notes | HK$'000 | HK$'000 | |||
REVENUE | 4 | 1,277,164 | 3,378,077 | ||
Cost of sales | (1,349,097) | (3,696,480) | |||
Gross loss | (71,933) | (318,403) | |||
Other income and gains | 4 | 213,368 | 367,440 | ||
Gain/(loss) on loss of control of subsidiaries, net | 94,590 | (534) | |||
Impairment of investments in associates | (6,657) | (453,694) | |||
Selling and distribution expenses | (158,007) | (667,863) | |||
Administrative expenses | (323,082) | (709,261) | |||
Other expenses | (47,038) | (752,782) | |||
Finance costs | 6 | (37,141) | (26,248) | ||
Share of losses of: | |||||
A joint venture | (779) | (3,765) | |||
Associates | (82,729) | (137,141) | |||
LOSS BEFORE TAX | 5 | (419,408) | (2,702,251) | ||
Income tax credit/(expense) | 7 | 8,746 | (20,825) | ||
LOSS FOR THE YEAR | (410,662) | (2,723,076) | |||
continued/... | |||||
2
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME (continued)
2018 | 2017 | |||||
Note | HK$'000 | HK$'000 | ||||
OTHER COMPREHENSIVE INCOME | ||||||
Other comprehensive income/(loss) that may be | ||||||
reclassified to profit or loss in subsequent periods: | - | |||||
Changes in fair value of available-for-sale investments | 377 | |||||
Exchange differences on translation of | 32,126 | |||||
foreign operations | 40,113 | |||||
Reclassification adjustment for foreign operations | 5,820 | |||||
disposed of during the year | 111 | |||||
Share of other comprehensive (loss)/income of: | (4,496) | |||||
A joint venture | 6,560 | |||||
Associates | (23,800) | 21,549 | ||||
Net other comprehensive income that may be reclassified | ||||||
to | 9,650 | |||||
profit or loss in subsequent periods | 68,710 | |||||
Other comprehensive income/(loss) that will not be | ||||||
reclassified to profit or loss in subsequent periods: | 39,286 | |||||
Gain/(loss) on property revaluation | (37,059) | |||||
Income tax effect | (9,821) | 5,940 | ||||
Net other comprehensive income/(loss) that will not be | ||||||
29,465 | ||||||
reclassified to profit or loss in subsequent periods | (31,119) | |||||
OTHER COMPREHENSIVE INCOME FOR THE YEAR, | ||||||
39,115 | ||||||
NET OF TAX | 37,591 | |||||
TOTAL COMPREHENSIVE LOSS FOR THE YEAR | (371,547) | (2,685,485) | ||||
Loss for the year attributable to: | ||||||
(409,321) | ||||||
Owners of the Company | (2,674,457) | |||||
Non-controlling interests | (1,341) | (48,619) | ||||
(410,662) | (2,723,076) | |||||
Total comprehensive loss for the year attributable to: | ||||||
(370,113) | ||||||
Owners of the Company | (2,636,943) | |||||
Non-controlling interests | (1,434) | (48,542) | ||||
(371,547) | (2,685,485) | |||||
LOSS PER SHARE ATTRIBUTABLE TO ORDINARY | ||||||
HK cents | HK cents | |||||
EQUITY HOLDERS OF THE COMPANY | ||||||
Basic and diluted | 9 | (8.13) | (53.14) | |||
3
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 December 2018
2018 | 2017 | |||||
Notes | HK$'000 | HK$'000 | ||||
NON-CURRENT ASSETS | ||||||
Property, plant and equipment | 843,867 | 943,870 | ||||
Investment properties | 222,563 | 120,013 | ||||
Prepaid land lease payments | 184,800 | 271,171 | ||||
Intangible assets | 5,172 | 12,855 | ||||
Investment in a joint venture | 101,402 | 106,677 | ||||
Investments in associates | 339,225 | 448,468 | ||||
Available-for-sale investments | - | 34,921 | ||||
Equity investments at fair value through profit or loss | 139,932 | - | ||||
Loans receivable | 4,076 | 18,266 | ||||
Other non-current assets | 14,310 | 26,825 | ||||
Deferred tax assets | 660 | 8,278 | ||||
Total non-current assets | 1,856,007 | 1,991,344 | ||||
CURRENT ASSETS | ||||||
Inventories | 194,955 | 395,569 | ||||
Trade receivables | 10 | 179,850 | 616,478 | |||
Bills receivable | 11 | 8,967 | 11,572 | |||
Short-term loans receivable | 4,600 | 64,710 | ||||
Prepayments, deposits and other receivables | 12 | 560,945 | 1,160,450 | |||
Amounts due from associates | 27,922 | 43,801 | ||||
Pledged deposits | 114,966 | 115,776 | ||||
Cash and cash equivalents | 13 | 168,554 | 451,130 | |||
Total current assets | 1,260,759 | 2,859,486 | ||||
CURRENT LIABILITIES | ||||||
Trade payables | 14 | 252,664 | 756,397 | |||
Bills payable | 15 | - | 45,934 | |||
Other payables and accruals | 1,609,156 | 1,886,662 | ||||
Interest-bearing bank and other borrowings | - | 684,966 | ||||
Amounts due to associates | 248,891 | 277,082 | ||||
An amount due to a related party | 202,129 | - | ||||
Tax payable | 110,907 | 113,909 | ||||
Total current liabilities | 2,423,747 | 3,764,950 | ||||
NET CURRENT LIABILITIES | (1,162,988) | (905,464) | ||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 693,019 | 1,085,880 | ||||
continued/... | ||||||
4
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
2018 | 2017 | |||
HK$'000 | HK$'000 | |||
TOTAL ASSETS LESS CURRENT LIABILITIES | 693,019 | 1,085,880 | ||
NON-CURRENT LIABILITIES | ||||
Interest-bearing bank and other borrowings | 228,258 | 239,260 | ||
Deferred tax liabilities | 45,335 | 55,823 | ||
Other non-current liabilities | 4,759 | 1,381 | ||
Total non-current liabilities | 278,352 | 296,464 | ||
Net assets | 414,667 | 789,416 | ||
EQUITY | ||||
Equity attributable to owners of the Company | ||||
Share capital | 50,334 | 50,334 | ||
Reserves | 363,879 | 793,592 | ||
414,213 | 843,926 | |||
Non-controlling interests | 454 | (54,510) | ||
Total equity | 414,667 | 789,416 | ||
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