Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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 2019
FINANCIAL HIGHLIGHTS | |||
Six months ended 30 June | |||
2019 | 2018 | Variance | |
(HK$' 000) | (HK$' 000) | (%) | |
(Unaudited) | (Unaudited) | ||
Revenue | 657,628 | 802,752 | -18.1 |
Loss before tax | (26,370) | (344,579) | -92.3 |
Net loss attributable to owners of the Company | (26,828) | (325,869) | -91.8 |
Basic and diluted loss per share | (HK0.53 cents) | (HK6.47 cents) | -91.8 |
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 2019 together with comparative figures for the corresponding period of 2018 as follows:
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the six months ended 30 June 2019
Six months ended 30 June | ||||||
2019 | 2018 | |||||
HK$' 000 | HK$' 000 | |||||
Notes | (Unaudited) | (Unaudited) | ||||
REVENUE | 4 | 657,628 | 802,752 | |||
Cost of sales | (551,601) | (827,901) | ||||
Gross profit/(loss) | 106,027 | (25,149) | ||||
Other income and gains | 4 | 163,066 | 136,437 | |||
Selling and distribution expenses | (126,655) | (105,131) | ||||
Administrative expenses | (110,810) | (179,310) | ||||
Other expenses | (10,413) | (90,355) | ||||
Finance costs | (22,132) | (16,895) | ||||
Share of losses of: | ||||||
A joint venture | (1,702) | (394) | ||||
Associates | (23,751) | (63,782) | ||||
LOSS BEFORE TAX | 5 | (26,370) | (344,579) | |||
Income tax (expense)/credit | 6 | (458) | 12,431 | |||
LOSS FOR THE PERIOD | (26,828) | (332,148) | ||||
Attributable to: | ||||||
Owners of the Company | (26,828) | (325,869) | ||||
Non-controlling interests | - | (6,279) | ||||
(26,828) | (332,148) | |||||
continued/... |
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Six months ended 30 June | |||||||
2019 | 2018 | ||||||
HK$' 000 | HK$' 000 | ||||||
Note | (Unaudited) | (Unaudited) | |||||
LOSS FOR THE PERIOD | (26,828) | (332,148) | |||||
OTHER COMPREHENSIVE INCOME | |||||||
Other comprehensive income that may be reclassified | |||||||
to profit or loss in subsequent periods: | |||||||
Exchange differences on translation of foreign | |||||||
operations | 1,361 | 11,240 | |||||
OTHER COMPREHENSIVE INCOME FOR THE | |||||||
PERIOD, NET OF TAX | 1,361 | 11,240 | |||||
TOTAL COMPREHENSIVE LOSS FOR THE | |||||||
PERIOD | (25,467) | (320,908) | |||||
Attributable to: | |||||||
Owners of the Company | (25,465) | (314,629) | |||||
Non-controlling interests | (2) | (6,279) | |||||
(25,467) | (320,908) | ||||||
LOSS PER SHARE ATTRIBUTABLE TO | |||||||
ORDINARY EQUITY HOLDERS OF THE | |||||||
COMPANY | 8 | HK cents | HK cents | ||||
Basic and diluted | (0.53) | (6.47) | |||||
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INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 June 2019
30 June | 31 December | |||||
2019 | 2018 | |||||
HK$' 000 | HK$' 000 | |||||
Notes | (Unaudited) | (Audited) | ||||
NON-CURRENT ASSETS | 855,061 | |||||
Property, plant and equipment | 843,867 | |||||
Investment properties | 221,688 | 222,563 | ||||
Right-of-use assets | 203,769 | - | ||||
Prepaid land lease payments | - | 184,800 | ||||
Intangible assets | 4,431 | 5,172 | ||||
Investment in a joint venture | 99,363 | 101,402 | ||||
Investments in associates | 309,921 | 339,225 | ||||
Equity investments at fair value through profit or loss | 177,125 | 139,932 | ||||
Loans receivable | 1,580 | 4,076 | ||||
Other non-current assets | 11,973 | 14,310 | ||||
Deferred tax assets | 605 | 660 | ||||
Total non-current assets | 1,885,516 | 1,856,007 | ||||
CURRENT ASSETS | ||||||
333,663 | ||||||
Inventories | 194,955 | |||||
Trade receivables | 9 | 447,068 | 179,850 | |||
Bills receivable | 10 | 1,754 | 8,967 | |||
Short-term loans receivable | 3,536 | 4,600 | ||||
Prepayments, deposits and other receivables | 438,576 | 560,945 | ||||
Amounts due from associates | 7,257 | 27,922 | ||||
Pledged deposits | 72,146 | 114,966 | ||||
Cash and cash equivalents | 126,846 | 168,554 | ||||
Total current assets | 1,430,846 | 1,260,759 | ||||
CURRENT LIABILITIES | ||||||
11 | 561,138 | 252,664 | ||||
Trade payables | ||||||
Other payables and accruals | 1,498,062 | 1,609,156 | ||||
Interest-bearing bank and other borrowings | 90,035 | - | ||||
Amounts due to associates | 66,165 | 248,891 | ||||
An amount due to a joint venture | 39,427 | - | ||||
An amount due to a related party | - | 202,129 | ||||
Tax payable | 110,536 | 110,907 | ||||
Total current liabilities | 2,365,363 | 2,423,747 | ||||
NET CURRENT LIABILITIES | (934,517) | (1,162,988) | ||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 950,999 | 693,019 | ||||
continued/... |
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30 June | 31 December | |||
2019 | 2018 | |||
HK$' 000 | HK$' 000 | |||
(Unaudited) | (Audited) | |||
TOTAL ASSETS LESS CURRENT LIABILITIES | 950,999 | 693,019 | ||
NON-CURRENT LIABILITIES | ||||
Interest-bearing bank and other borrowings | 244,338 | 228,258 | ||
An amount due to a related party | 266,034 | - | ||
Deferred tax liabilities | 45,532 | 45,335 | ||
Other non-current liabilities | 5,139 | 4,759 | ||
Total non-current liabilities | 561,043 | 278,352 | ||
Net assets | 389,956 | 414,667 | ||
EQUITY | ||||
Equity attributable to owners of the Company | ||||
Share capital | 50,334 | 50,334 | ||
Reserves | 339,170 | 363,879 | ||
389,504 | 414,213 | |||
Non-controlling interests | 452 | 454 | ||
Total equity | 389,956 | 414,667 | ||
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