Sinostar Pec Holdings LimitedSGX: C9Q

First Quarter Results

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SINOSTAR PEC HOLDINGS LIMITED (Company Registration No.: 200609833N) This QR announcement is mandatory made pursuant to the Singapore Exchange's requirements as required under Listing Rule 705(2). Unaudited Financial Statement Announcement for the three months ("1Q25") and 3 months ("FY") ended 31 March 2025 CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME The Group 3 months ended 31 March +/- Note 2025 2024 RMB'000 RMB'000 %

Revenue

4

1,306,541 1,466,295

Cost of sales

(1,234,907) (1,328,316)

Gross profit

71,634

137,979

Other Income

1,700

2,839

Administrative costs

(7,224)

(13,842)

Distribution costs

(3,201)

(2,299)

Other operating expense

(111)

(38)

Finance costs

(3,271)

(6,559)

Profit before taxation

5

59,527

118,080

Income tax expense

6

(14,381)

(29,713)

Net profit for the year

45,146

88,367

Net profit attributable to:

Equity holders of the Company

45,146

64,522

Non-controlling interests

-

23,845

45,146

88,367

Earnings per share

(10.69)

(7.0)

(48.08)

(40.1)

(47.8)

39.2

192.1

(50.1)

(49.6)

(51.6)

(48.9)

attributable to equity holders of the company (RMB cents per share)

Basic

4.70

10.08

Diluted

4.70

10.08

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION The Group The Group The Company The Company 31 March 31 December 31 March 31 December ASSETS NON-CURRENT ASSETS

Note 2025 2024 2025 2024

RMB'000 RMB'000 RMB'000 RMB'000

Property, plant and equipment 7 1,268,785 1,297,877 3 3

Right-of-use assets 3,043 3,043 - -

Intangible assets 86,771 87,050 - -

Goodwill on consolidation 8 10,345 10,345 - -

Investment in subsidiary

corporations - - 250,041 250,041 Financial asset, at fair value

through other comprehensive income 9 - - - -

1,368,944 1,398,315 250,044 250,044

CURRENT ASSETS

Intangible assets 1,088 1,088 - -

Inventories 10 299,753 264,318 - -

Trade and other receivables 11 33,192 28,139 - -

Amounts owing by related

companies 11 23,897 1,527 - -

Prepayments 12 1,362 2,155 - 176

Cash and bank balances 717,355 407,377 266,249 4,010

1,076,647 704,604 266,249 4,186

TOTAL ASSETS 2,445,591 2,102,919 516,293 254,230 EQUITY Equity attributable to equity holders of the parents ASSETS

Share capital 13 559,012

316,125

559,012

316,125

Retained profits/(accumulated

losses)

469,968

424,822

(64,956)

(63,346)

Capital reserves

331,564

331,564

-

-

Fair value reserves Other reserves

-247,817

-247,817

-

-

-

-

1,608,361

1,320,328

494,056

252,779

Non-controlling interests

-

-

-

-

TOTAL EQUITY

1,608,361

1,320,328

494,056

252,779

LIABILITIES

NON-CURRENT LIABILITIES

Bank borrowings

14

200,000

200,000

-

-

Lease liabilities

3,477

3,477

-

-

203,477

203,477

-

-

CURRENT LIABILITIES

Loan from a related party

14

-

50,000

-

-

Bank borrowings

14

100,000

100,000

-

-

Lease liabilities

66

66

-

-

Trade and other payables

15

228,536

116,952

1,981

1,451

Amounts owing to related companies

15

289,568

294,567

20,256

-

Current tax payable

15,583

17,529

-

-

633,753

579,114

22,237

1,451

TOTAL EQUITY AND LIABILITIES

2,445,591

2,102,919

516,293

254,230

Share Capital RMB'000

316,125

-242,887

Retained earnings RMB'000

424,822

45,146

-

Fair value reserve RMB'000

-

-

-

Capital reserve RMB'000

331,564

-

-

Other reserves

Equity attributable to owners RMB'000

1,320,328

45,146

242,887

Non-controlling interests RMB'000

-

-

-

Total equity RMB'000

1,320,328

45,146

242,887

Statutory common reserve RMB'000

247,020

-

-

Voluntary common reserve RMB'000

797

-

-

Sub-total RMB'000

247,817

-

-

559,012

469,968

-

331,564

247,020

797

247,817

1,608,361

-

1,608,361

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY 1 January 2024 to 31 March 2025

Balance as at 1 January 2025

Total comprehensive income for the period Issuance of new ordinary shares

Other reserves

Statutory

Voluntary

Equity

Non-

Share

Retained

Fair value

Capital

common

common

attributable

controlling

Total

Capital

earnings

reserve

reserve

reserve

reserve

Sub-total

to owners

interests

equity

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

RMB'000

316,125

705,892

12,952

250,000

179,825

797

180,622

1,465,591

234,875

1,700,466

-

170,069

(14,730)

-

-

-

-

155,339

55,287

210,626

-

(17,166)

-

-

-

-

-

(17,166)

-

(17,166)

-

(365,000)

-

365,000

-

-

-

-

-

-

-

-

-

(283,436)

-

-

-

(283,436)

(290,162)

(573,598)

-

(1,778)

1,778

-

-

-

-

-

-

-

-

(67,195)

-

-

67,195

-

67,195

-

-

-

316,125

424,822

-

331,564

247,020

797

247,817

1,320,328

-

1,320,328

Balance as at 31 December 2024

1 January 2024 to 31 December 2024

Balance as at 1 January 2024

Total comprehensive income for the period Dividend paid for the year

Transfer to capital reserve Acquisition of additional interest in a subsidiary corporation Transfer to retained earnings

Transfer to statutory common reserve Balance as at 31 December 2024

P a g e 3 | 33

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY (CONT'D)

Share

capital

Accumulated

losses

Total

equity

1 January 2024 to 31 March 2025

RMB'000

RMB'000

RMB'000

Balance as at 1 January 2025

316,125

(63,346)

252,779

Total comprehensive income for the period

-

(1,610)

(1,610)

Issuance of new ordinary shares

242,887

-

242,887

Balance as at 31 March 2025

559,012

(64,956)

494,056

Share

capital

Accumulated

losses

Total

equity

1 January 2024 to 31 December 2024

RMB'000

RMB'000

RMB'000

Balance as at 1 January 2024

316,125

(67,119)

249,006

Total comprehensive income for the period

-

20,939

20,939

Dividend paid

-

(17,166)

(17,166)

Balance as at 31 December 2024

316,125

(63,346)

252,779

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS The Group 3 months ended 31 March

Cash flows from operating activities

2025

RMB'000

2024

RMB'000

Profit for the period

59,527

118,080

Adjustments for:-

Depreciation of property, plant and equipment

43,400

46,192

Amortisation of land use rights

275

309

Interest income

(592)

(2,230)

Interest expense

3,271

6,559

Operating profit before working capital changes

105,884

168,910

Changes in working capital:

Change in inventories

(35,435)

9,397

Change in amount owing to related companies

(27,369)

(21,854)

Change in operating receivables

(3,467)

943

Change in prepayment

(793)

(950)

Change in operating payables

111,585

59,981

Cash generated from operations

150,406

216,427

Income tax paid

(16,327)

(69,913)

Net cash provided by operating activities

134,079

146,514

Cash flows from investing activities

Acquisition of property, plant and equipment

(14,309)

(975)

Interest received

592

2,230

Net cash (used in)/provided by investing activities

(13,717)

1,255

Cash flows from financing activities

Repayment of loan to non-controlling interests

-

(50,000)

Repayment of loan to a related party

(50,000)

-

Issuance of new ordinary shares

242,887

-

Interest paid

(3,271)

(6,559)

Net cash provided by/(used in) financing activities

189,616

(56,559)

Net increase in cash and cash equivalents

309,978

91,210

Cash and cash equivalents at beginning of year

407,377

562,886

Cash and cash equivalents at end of year

717,355

654,096

For the purpose of the consolidated statement of cash flows, the cash

and cash equivalents comprise the following:

Bank balances

717,355

654,096