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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)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2018
FINANCIAL HIGHLIGHTS | |||
Six months ended 30 June | |||
2018 | 2017 | change | |
(HK$'000) | (HK$'000) | (%) | |
(Unaudited) | (Unaudited) | ||
Revenue | 802,752 | 2,390,165 | -66.4 |
Loss before tax | (344,579) | (1,057,420) | -67.4 |
Net loss attributable to owners of the Company | (325,869) | (1,049,097) | -68.9 |
Basic and diluted loss per share | (HK6.47 cents) | (HK20.84 cents) | -69.0 |
The board (the "Board") of directors (the "Directors") of Coolpad Group Limited (the "Company") announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2018 together with comparative figures for the corresponding period of 2017 as follows:
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the six months ended 30 June 2018
Six months ended 30 June | |||||
2018 | 2017 | ||||
HK$'000 | HK$'000 | ||||
Notes | (Unaudited) | (Unaudited) | |||
REVENUE | 4 | 802,752 | 2,390,165 | ||
Cost of sales | (827,901) | (2,296,561) | |||
Gross (loss)/profit | (25,149) | 93,604 | |||
Other income and gains | 4 | 136,437 | 162,638 | ||
Selling and distribution expenses | (105,131) | (477,407) | |||
Administrative expenses | (179,310) | (506,788) | |||
Other expenses | (90,355) | (265,584) | |||
Finance costs | 6 | (16,895) | (10,447) | ||
Share of losses of: | |||||
A joint venture | (394) | (585) | |||
Associates | (63,782) | (52,851) | |||
LOSS BEFORE TAX | 5 | (344,579) | (1,057,420) | ||
Income tax credit/(expense) | 7 | 12,431 | (1,398) | ||
LOSS FOR THE PERIOD | (332,148) | (1,058,818) | |||
OTHER COMPREHENSIVE INCOME | |||||
Items that may be reclassified subsequently | |||||
to profit or loss: | |||||
Exchange differences on translation of foreign operations | 11,240 | 18,923 | |||
OTHER COMPREHENSIVE INCOME | |||||
FOR THE PERIOD, NET OF TAX | 11,240 | 18,923 | |||
TOTAL COMPREHENSIVE LOSS | |||||
FOR THE PERIOD | (320,908) | (1,039,895) | |||
LOSS FOR THE PERIOD | |||||
Attributable to: | |||||
Owners of the Company | (325,869) | (1,049,097) | |||
Non-controlling interests | (6,279) | (9,721) | |||
(332,148) | (1,058,818) | ||||
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Six months ended 30 June | |||||
2018 | 2017 | ||||
HK$'000 | HK$'000 | ||||
Note | (Unaudited) | (Unaudited) | |||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | |||||
Attributable to: | |||||
Owners of the Company | (314,629) | (1,030,174) | |||
Non-controlling interests | (6,279) | (9,721) | |||
(320,908) | (1,039,895) | ||||
LOSS PER SHARE ATTRIBUTABLE TO ORDINARY | |||||
EQUITY HOLDERS OF THE COMPANY | |||||
Basic and diluted | 9 | (HK6.47 cents) | (HK20.84 cents) | ||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 June 2018
30 June | 31 December | |||
2018 | 2017 | |||
HK$'000 | HK$'000 | |||
Notes | (Unaudited) | (Audited) | ||
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 1,003,801 | 943,870 | ||
Investment properties | 118,600 | 120,013 | ||
Prepaid land lease payments | 235,925 | 271,171 | ||
Intangible assets | 11,955 | 12,855 | ||
Investment in a joint venture | 105,227 | 106,677 | ||
Investments in associates | 380,480 | 448,468 | ||
Available-for-sale investments | - | 34,921 | ||
Equity investments at fair value through profit or loss | 117,460 | - | ||
Loans receivable | 4,236 | 18,266 | ||
Other non-current assets | 2,873 | 26,825 | ||
Deferred tax assets | 8,207 | 8,278 | ||
Total non-current assets | 1,988,764 | 1,991,344 | ||
CURRENT ASSETS | ||||
Inventories | 236,660 | 395,569 | ||
Trade receivables | 10 | 384,809 | 616,478 | |
Bills receivable | 11 | - | 11,572 | |
Short-term loans receivable | 12,855 | 64,710 | ||
Prepayments, deposits and other receivables | 1,355,347 | 1,160,450 | ||
Amounts due from associates | 53,756 | 43,801 | ||
Pledged deposits | 54,005 | 115,776 | ||
Cash and cash equivalents | 223,844 | 451,130 | ||
Total current assets | 2,321,276 | 2,859,486 | ||
CURRENT LIABILITIES | ||||
Trade payables | 12 | 760,099 | 756,397 | |
Bills payable | 13 | 8,303 | 45,934 | |
Other payables and accruals | 1,836,201 | 1,886,662 | ||
Interest-bearing bank borrowings | 343,969 | 684,966 | ||
Amounts due to associates | 191,883 | 277,082 | ||
An amount due to a related party | 202,467 | - | ||
Tax payable | 95,194 | 113,909 | ||
Total current liabilities | 3,438,116 | 3,764,950 | ||
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30 June | 31 December | |||
2018 | 2017 | |||
HK$'000 | HK$'000 | |||
(Unaudited) | (Audited) | |||
NET CURRENT ASSETS | (1,116,840) | (905,464) | ||
TOTAL ASSETS LESS CURRENT LIABILITIES | 871,924 | 1,085,880 | ||
NON-CURRENT LIABILITIES | ||||
Interest-bearing bank and other borrowings | 241,519 | 239,260 | ||
Deferred tax liabilities | 29,446 | 55,823 | ||
Other non-current liabilities | - | 1,381 | ||
Total non-current liabilities | 270,965 | 296,464 | ||
Net assets | 600,959 | 789,416 | ||
EQUITY | ||||
Equity attributable to owners of the Company | ||||
Share capital | 50,334 | 50,334 | ||
Reserves | 598,198 | 793,592 | ||
Non-controlling interests | (47,573) | (54,510) | ||
Total equity | 600,959 | 789,416 | ||
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