ZHONGMIN BAIHUI RETAIL GROUP LTD.
(Company Registration No.: 200411929C)
CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2021
1(a)(i) | An income statement and statement of comprehensive income, or a statement of comprehensive |
income, for the group, together with a comparative statement for the corresponding period of the | |
immediately preceding financial year. |
Consolidated statement of comprehensive income for the half year ended 30 June 2021 ("HY 2021")
Group | |||||
Half year ended | Change | ||||
Note | 30/6/2021 | 30/6/2020 | +/(-) | ||
RMB'000 | RMB'000 | % | |||
Revenue | 6 | 557,197 | 510,374 | 9.2 | |
Cost of sales | (424,030) | (381,807) | 11.1 | ||
Gross profit | 133,167 | 128,567 | 3.6 | ||
Other income | 41,949 | 51,634 | (18.8) | ||
Interest income | 2,218 | 4,391 | (49.5) | ||
Selling and distribution expenses | (103,545) | (91,688) | 12.9 | ||
Finance costs | (6,820) | (6,482) | 5.2 | ||
Administrative expenses | (76,796) | (44,824) | 71.3 | ||
(Loss)/profit before taxation and | (9,827) | 41,598 | n.m. | ||
share of results of associates and | |||||
joint ventures | |||||
Share of results of joint ventures | (2,688) | (1,136) | (136.6) | ||
Share of results of associates | 7,435 | 718 | n.m. | ||
(Loss)/profit before taxation | 7 | (5,080) | 41,180 | n.m. | |
Income tax expense | 8 | (3,230) | (12,271) | (73.7) | |
(Loss)/profit after taxation | (8,310) | 28,909 | n.m. | ||
Other comprehensive income: | |||||
Items that may be reclassified | |||||
subsequently to profit or loss | |||||
Currency translation gain/(loss) | 48 | (537) | n.m. | ||
Other comprehensive income, net of tax | 48 | (537) | n.m. | ||
Total comprehensive income for the | |||||
period attributable to the owners | |||||
of the Company | (8,262) | 28,372 | n.m. | ||
n.m. - Not meaningful
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1(b)(i) | A statement of financial position (for the issuer and group), together with a comparative statement |
as at the end of the immediately preceding financial year.
Group | Company | |||||||||
Note | 30/6/2021 | 31/12/2020 | 30/6/2021 | 31/12/2020 | ||||||
RMB'000 | RMB'000 | RMB'000 | RMB'000 | |||||||
Non-current assets | ||||||||||
Property, plant and equipment | 9 | 161,083 | 151,569 | 14 | 29 | |||||
Right-of-use assets | 10 | 165,073 | 199,398 | 735 | 130 | |||||
Intangible assets | 3,810 | 3,810 | - | - | ||||||
Investment in subsidiaries | - | - | 73,094 | 63,257 | ||||||
Investment in joint ventures | 12,736 | 8,554 | - | - | ||||||
Investment in associates | 50,003 | 42,568 | - | - | ||||||
Prepayments | 98 | 5,066 | - | - | ||||||
Other receivables | 13,255 | 11,864 | 64 | 77 | ||||||
Deferred tax assets | 22,780 | 17,214 | - | 1 | ||||||
Other assets | 3,786 | 3,786 | - | - | ||||||
432,624 | 443,829 | 73,907 | 63,494 | |||||||
Current assets | ||||||||||
Inventories | 155,141 | 159,544 | - | - | ||||||
Prepayments | 28,364 | 67,526 | 90 | 29 | ||||||
Trade and other receivables | 11,826 | 45,290 | - | - | ||||||
Amount due from a subsidiary | - | - | 40,300 | 65,473 | ||||||
Amount due from associates | 42,900 | 41,400 | - | - | ||||||
Amount due from a joint venture | 35,000 | - | - | - | ||||||
Amount due from related parties | 4,415 | 10,364 | - | - | ||||||
Cash and cash equivalents | 280,287 | 324,346 | 32,570 | 15,293 | ||||||
557,933 | 648,470 | 72,960 | 80,795 | |||||||
Less: Current liabilities | ||||||||||
Loans and borrowings | 13 | 5,500 | 2,572 | 5,500 | 2,572 | |||||
Trade and other payables | 433,999 | 429,703 | 4 | - | ||||||
Lease liabilities | 10 | 60,587 | 62,783 | 241 | 137 | |||||
Other liabilities | 30,756 | 38,871 | 2,509 | 2,858 | ||||||
Amount due to related parties | 3,532 | 68,885 | - | - | ||||||
Income tax payable | 11,623 | 20,175 | - | - | ||||||
545,997 | 622,989 | 8,254 | 5,567 | |||||||
Net current assets | 11,936 | 25,481 | 64,706 | 75,228 | ||||||
Non-current liabilities | ||||||||||
Loans and borrowings | 13 | 56,895 | 61,620 | 56,895 | 61,620 | |||||
Lease liabilities | 10 | 168,889 | 180,022 | 488 | - | |||||
Deferred tax liabilities | 13,891 | 14,521 | 10,040 | 10,821 | ||||||
239,675 | 256,163 | 67,423 | 72,441 | |||||||
Net assets | 204,885 | 213,147 | 71,190 | 66,281 | ||||||
Equity attributable to the holders | ||||||||||
of the Company | ||||||||||
Share capital | 11 | 67,148 | 67,148 | 67,148 | 67,148 | |||||
Treasury shares | (25,031) | (25,031) | (25,031) | (25,031) | ||||||
Statutory common reserve | 32,796 | 32,796 | - | - | ||||||
Currency translation reserve | (242) | (290) | (251) | (299) | ||||||
Revenue reserve | 130,214 | 138,524 | 29,324 | 24,463 | ||||||
Total equity | 204,885 | 213,147 | 71,190 | 66,281 | ||||||
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1(c) A statement of cash flows (for the group), together with a comparative statement for the
corresponding period of the immediately preceding financial year.
Group
30/6/2021 | 30/6/2020 | ||
RMB'000 | RMB'000 | ||
Cash flows from operating activities | |||
(Loss)/profit before taxation | (5,080) | 41,180 | |
Adjustments for: | |||
Depreciation of property, plant and equipment | 5,981 | 6,897 | |
Depreciation of right-of-use assets | 32,681 | 33,391 | |
Impairment on right-of-use assets | 28,400 | - | |
Net gain on disposal of property, plant and equipment | - | (6) | |
Inventories written off | 95 | - | |
Rent concession | - | (7,031) | |
Interest income | (2,218) | (4,391) | |
Finance costs | 6,820 | 6,482 | |
Share of results of joint ventures | 2,688 | 1,136 | |
Share of results of associates | (7,435) | (718) | |
Unrealised exchange difference | (1,554) | (590) | |
Operating cash flows before changes in working capital | 60,378 | 76,350 | |
Decrease in inventories | 4,308 | 8,627 | |
Decrease/(increase) in prepayments | 39,160 | (114,306) | |
Decrease in trade and other receivables | 38,340 | 2,592 | |
(Decrease)/increase in trade and other payables | (69,088) | 9,276 | |
Cash flows generated from/(used in) operation | 73,098 | (17,461) | |
Interest received | 1,870 | 3,405 | |
Tax paid | (17,680) | (8,502) | |
Net cash flows generated from/(used in) operating activities | 57,288 | (22,558) | |
Cash flows from financing activities | |||
Interest on lease liabilities paid | (5,272) | (6,238) | |
Interest paid on loans and bonds | (1,561) | - | |
Purchase of treasury shares | - | (94) | |
Proceeds from loans and borrowings | - | 40,225 | |
Repayment of lease liabilities | (40,052) | (27,955) | |
Net cash flows (used in)/generated from financing activities | (46,885) | 5,938 | |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (10,527) | (3,153) | |
Investment in joint ventures | (6,870) | (3,000) | |
Amount due from associates | (1,500) | (5,700) | |
Amount due from a joint venture | (35,000) | - | |
Proceeds from disposal of property, plant and equipment | - | 15 | |
Bank deposit pledged | - | 10,000 | |
Net cash flows used in investing activities | (53,897) | (1,838) | |
Net decrease in cash and cash equivalents | (43,494) | (18,458) | |
Effect of exchange rate changes on cash and cash equivalents | (565) | 112 | |
Cash and cash equivalents at beginning of financial period | 324,346 | 260,041 | |
Cash and cash equivalents at end of financial period | 280,287 | 241,695 | |
For the purpose of the consolidated statement of cash flows, | |||
the cash and cash equivalents comprise the following: | |||
Cash on hand | 5,021 | 4,205 | |
Bank balances | 275,266 | 237,490 | |
280,287 | 241,695 | ||
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1(d)(i) | A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and | ||||||
distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year. | |||||||
Attributable to equity holders of the Company | |||||||
Currency | Statutory | ||||||
Share | Treasury | translation | Revenue | common | Total | ||
capital | shares | reserve | reserve | reserve | equity | ||
RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | ||
Group | |||||||
Balance at 1 January 2021, as previously reported | 67,148 | (25,031) | (290) | 138,524 | 32,796 | 213,147 | |
Exchange difference arising from the translation from functional currency to | |||||||
presentation currency representing other comprehensive income for the period | - | - | 48 | - | - | 48 | |
Loss for the period | - | - | - | (8,310) | - | (8,310) | |
Total comprehensive income for the period | - | - | 48 | (8,310) | - | (8,262) | |
Balance at 30 June 2021 | 67,148 | (25,031) | (242) | 130,214 | 32,796 | 204,885 | |
- | - | - | - | - | - | ||
Group | |||||||
Balance at 1 January 2020 | 67,148 | (24,853) | 242 | 112,791 | 27,352 | 182,680 | |
Exchange difference arising from the translation from functional currency to | |||||||
presentation currency representing other comprehensive income for the period | - | - | (537) | - | - | (537) | |
Profit for the period | - | - | - | 28,909 | - | 28,909 | |
Total comprehensive income for the period | - | - | (537) | 28,909 | - | 28,372 | |
Purchase of treasury shares | - | (94) | - | - | - | (94) | |
Balance at 30 June 2020 | 67,148 | (24,947) | (295) | 141,700 | 27,352 | 210,958 | |
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Attributable to equity holders of the Company | |||||
Currency | |||||
Share | Treasury | translation | Revenue | Total | |
capital | shares | reserve | reserve | equity | |
RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | |
Company | |||||
Balance at 1 January 2021, as previously reported | 67,148 | (25,031) | (299) | 24,463 | 66,281 |
Exchange difference arising from the translation from functional currency to | |||||
presentation currency representing other comprehensive income for the period | - | - | 48 | - | 48 |
Profit for the period | - | - | - | 4,861 | 4,861 |
Total comprehensive income for the period | - | - | 48 | 4,861 | 4,909 |
Balance at 30 June 2021 | 67,148 | (25,031) | (251) | 29,324 | 71,190 |
- | - | - | - | - | |
Company | |||||
Balance at 1 January 2020 | 67,148 | (24,853) | 232 | 18,091 | 60,618 |
Exchange difference arising from the translation from functional currency to | |||||
presentation currency representing other comprehensive income for the period | - | - | (537) | - | (537) |
Profit for the period | - | - | - | 10,583 | 10,583 |
Total comprehensive income for the period | - | - | (537) | 10,583 | 10,046 |
Purchase of treasury shares | - | (94) | - | - | (94) |
Balance at 30 June 2020 | 67,148 | (24,947) | (305) | 28,674 | 70,570 |
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