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廣 東 康 華 醫 療 股 份 有 限 公 司 GUANGDONG KANGHUA HEALTHCARE CO., LTD.*(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 3689)
INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017FINANCIAL HIGHLIGHTS |
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The board of directors (the "Board") of Guangdong Kanghua Healthcare Co., Ltd.* (the "Company" or "our") is pleased to announced the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the "Group"), for the six months ended 30 June 2017 (the "Reporting Period") together with the comparative figures for the corresponding period in 2016.
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six months ended 30 June 2017
Six months ended 30 June | ||||
2017 | 2016 | |||
NOTES | RMB'000 | RMB'000 | ||
(unaudited) | (unaudited) | |||
Revenue | 3 | 635,302 | 588,253 | |
Cost of revenue | (474,643) | (452,584) | ||
Gross profit | 160,659 | 135,669 | ||
Other income | 4 | 11,787 | 14,500 | |
Other expenses and losses | 5 | (12,117) | (5,156) | |
Administrative expenses | (58,350) | (49,615) | ||
Finance costs | - | (5,952) | ||
Profit before taxation | 6 | 101,979 | 89,446 | |
Income tax expenses | 7 | (27,904) | (24,284) | |
Profit and total comprehensive income for the period | 74,075 | 65,162 | ||
Profit and total comprehensive income for the period attributable to: | ||||
- owners of the Company | 72,043 | 63,911 | ||
- non-controlling interests | 2,032 | 1,251 | ||
74,075 | 65,162 | |||
Earnings per share, basic (RMB cents) | 8 | 21.5 | 25.6 | |
As at 30 June 2017
At 30 June 2017 | At 31 December 2016 | |||
NOTES | RMB'000 | RMB'000 | ||
(unaudited) | (audited) | |||
Non-current assets | ||||
Property, plant and equipment | 363,738 | 360,997 | ||
Deposits paid for acquisition of property, plant and equipment | 90,458 | 29,940 | ||
Available-for-sale investment | 9 | 17,202 | - | |
471,398 | 390,937 | |||
Current assets | ||||
Inventories | 50,080 | 43,226 | ||
Accounts and other receivables | 10 | 210,450 | 190,486 | |
Available-for-sale investments | 9 | 445,250 | - | |
Restricted bank balances | 14,797 | 34,955 | ||
Bank balances and cash | 451,194 | 936,374 | ||
1,171,771 | 1,205,041 | |||
Current liabilities | ||||
Accounts and other payables | 11 | 356,224 | 386,359 | |
Amounts due to shareholders | 925 | 3,179 | ||
Tax payables | 36,902 | 31,397 | ||
394,051 | 420,935 | |||
Net current assets | 777,720 | 784,106 | ||
Net assets | 1,249,118 | 1,175,043 | ||
Capital and reserves | ||||
Share capital | 334,394 | 334,394 | ||
Reserves | 893,064 | 821,021 | ||
Equity attributable to owners of the Company | 1,227,458 | 1,155,415 | ||
Non-controlling interests | 21,660 | 19,628 | ||
Total equity | 1,249,118 | 1,175,043 | ||
NOTES:
BASIS OF PREPARATION
The condensed consolidated financial statements have been prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting" issued by the International Accounting Standards Board ("IASB") as well as the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules").
PRINCIPAL ACCOUNTING POLICIES
The condensed consolidated financial statements have been prepared on the historical cost basis except for available-for-sale investments which are measured at fair values at the end of each reporting period.
Except as described below, the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2017 are the same as those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2016.
Adoption of new and amendments to International Financial Reporting Standards ("IFRSs") effective in current period
In the current interim period, the Group has applied, for the first time, the following amendments to IFRSs issued by the IASB that are relevant for the preparation of the Group's condensed consolidated financial statements:
Amendments to IAS 7
Disclosure Initiative
Amendments to IAS 12
Recognition of Deferred Tax Assets for Unrealised Losses
Amendments to IFRS 12
As part of the Annual Improvements to IFRSs 2014 - 2016 Cycle
The application of the amendments to IFRSs in the current interim period has had no material effect on the amounts reported and/or disclosures set out in these condensed consolidated financial statements.
Adoption of new accounting policy in respect of available-for-sale investments
Available-for-sale investments are non-derivatives that are either designated as available-for-sale or are not classified as (a) loans and receivables, (b) held-to-maturity investments or (c) financial assets at fair value through profit or loss. They are included in non-current assets unless investment matures or management intends to dispose of within 12 months of the end of the reporting period.
Available-for-sale investments are measured at fair value at the end of each reporting period. Changes in the carrying amount of available-for-sale investments relating to interest income calculated using the effective interest method, are recognised in profit or loss.