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FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
FINANCIAL HIGHLIGHTS
2020 | 2019 | ||
Change in % | RMB'000 | RMB'000 | |
Revenue | 16.9% | 7,702,150 | 6,591,043 |
Profit before income tax | 21.5% | 1,919,867 | 1,579,850 |
Profit for the year | 20.6% | 1,003,012 | 831,982 |
Profit for the year attributable to | |||
owners of the Company | 20.0% | 950,900 | 792,258 |
Earnings per share | |||
- Basic | 19.6% | RMB0.122 | RMB0.102 |
- Diluted | 19.8% | RMB0.121 | RMB0.101 |
Total assets | 27.2% | 29,061,741 | 22,851,765 |
FINAL RESULTS |
The board (the "Board") of directors (the "Directors") of Skyfame Realty (Holdings) Limited (the "Company") announces the consolidated final results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2020, together with comparative figures for the corresponding year of 2019. The consolidated final results have been reviewed by the audit committee of the Company.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Year ended 31 December 2020 2019
Notes RMB'000 RMB'000
Revenue | 3 | 7,702,150 | 6,591,043 |
Cost of sales and services | (5,534,120) | (4,691,703) | |
Gross profit | 2,168,030 | 1,899,340 | |
Other income | 21,855 | 21,571 | |
Other gains - net | 220,618 | 9,522 | |
Sales and marketing expenses | 5 | (285,377) | (249,765) |
Administrative and other expenses | 5 | (443,067) | (367,894) |
Impairment loss of trade and other receivables | (25,961) | (15,383) | |
Fair value changes in investment properties | 41,452 | 334,267 | |
Operating profit | 1,697,550 | 1,631,658 | |
Share of losses of joint ventures, net of tax | (3,177) | (20,629) | |
Finance income/(costs) - net | 4 | 225,494 | (31,179) |
Profit before income tax | 1,919,867 | 1,579,850 | |
Income tax expense | 6 | (916,855) | (747,868) |
Profit for the year | 1,003,012 | 831,982 | |
Other comprehensive income, items | |||
that may be reclassified subsequently to | |||
profit or loss: | |||
Exchange differences on translation of | |||
foreign operations | 643 | 2,211 | |
Total comprehensive income for the year | 1,003,655 | 834,193 | |
Profit for the year attributable to: | |||
- Owners of the Company | 950,900 | 792,258 | |
- Non-controlling interests | 52,112 | 39,724 | |
1,003,012 | 831,982 | ||
Total comprehensive income for the year | |||
attributable to: | |||
- Owners of the Company | 951,543 | 794,469 | |
- Non-controlling interests | 52,112 | 39,724 | |
1,003,655 | 834,193 | ||
Earnings per share | 7 | ||
- Basic | RMB0.122 | RMB0.102 | |
- Diluted | RMB0.121 | RMB0.101 |
CONSOLIDATED BALANCE SHEET
2019 | |||
Notes | RMB'000 | RMB'000 | |
Non-current assets | |||
Property, plant and equipment | 435,740 | 454,108 | |
Right-of-use assets | 376,656 | 243,593 | |
Investment properties | 3,584,405 | 3,512,291 | |
Financial assets at fair value through | |||
profit or loss | - | 329,828 | |
Interest in joint ventures | 43,897 | 46,295 | |
Deferred tax assets | 189,110 | 84,311 | |
4,629,808 | 4,670,426 | ||
Current assets | |||
Properties under development | 14,051,893 | 10,686,501 | |
Properties held for sale | 2,080,204 | 2,307,057 | |
Financial assets at fair value through | |||
profit or loss | 774,220 | - | |
Trade receivables | 9 | 400,899 | 440,184 |
Other receivables and prepayments | 10 | 4,633,717 | 2,686,068 |
Contract costs | 187,798 | 152,882 | |
Restricted and pledged deposits | 334,489 | 336,029 | |
Cash and cash equivalents | 1,968,713 | 1,572,618 | |
24,431,933 | 18,181,339 | ||
Total assets | 29,061,741 | 22,851,765 | |
Equity | |||
Share capital | 24,680 | 24,670 | |
Other reserves | 1,327,058 | 1,313,332 | |
Retained earnings | 2,995,966 | 2,201,171 | |
Equity attributable to owners of the | |||
Company | 4,347,704 | 3,539,173 | |
Non-controlling interests | 447,054 | 210,873 | |
Total equity | 4,794,758 | 3,750,046 |
31 December 2020
31 December 2020
2019
Notes | RMB'000 | RMB'000 | |
Non-current liabilities | |||
Lease liabilities | 162,772 | - | |
Bank and other borrowings | 11 | 6,037,941 | 4,330,684 |
Deferred tax liabilities | 542,298 | 585,051 | |
6,743,011 | 4,915,735 | ||
Current liabilities | |||
Lease liabilities | 8,753 | - | |
Bank and other borrowings | 11 | 2,653,495 | 1,929,664 |
Derivative financial liabilities | - | 670 | |
Trade and other payables | 12 | 4,102,800 | 3,542,819 |
Contract liabilities | 9,429,225 | 8,050,565 | |
Income tax payable | 1,329,699 | 662,266 | |
17,523,972 | 14,185,984 | ||
Total liabilities | 24,266,983 | 19,101,719 | |
Total equity and liabilities | 29,061,741 | 22,851,765 |
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