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SPT Energy Group Inc.
華油能源集團有限公司*
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1251)
ANNUAL RESULTS ANNOUNCEMENT FOR
THE YEAR ENDED 31 DECEMBER 2018
ANNUAL RESULTS HIGHLIGHTS
The Group's revenue for the year ended 31 December 2018 was RMB1,471.6 million, representing an increase of RMB371.0 million, or 33.7%, from RMB1,100.6 million for the previous year. The profit attributable to equity owners of the Company was RMB81.8 million, representing an increase of RMB76.3 million, or 1,387.3%, from RMB5.5 million for the previous year.
No final dividend for the year ended 31 December 2018 was proposed by the Board to the shareholders of the Company (for the year ended 31 December 2017: nil).
RESULTS
The board of directors (the "Board") of SPT Energy Group Inc. (the "Company") announces the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 (the "Reporting Year"), together with the comparative figures for the previous year as follows:
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CONSOLIDATED BALANCE SHEET | ||||
As at 31 December | ||||
2018 | 2017 | |||
Note | RMB'000 | RMB'000 | ||
Assets | ||||
Non-current assets | ||||
Property, plant and equipment | 333,590 | 348,626 | ||
Land use rights | 20,792 | 21,275 | ||
Intangible assets | 13,734 | 23,219 | ||
Investments in associates | 5,440 | 1,570 | ||
Deferred income tax assets | 131,380 | 141,899 | ||
Prepayments and other receivables | 6 | 16,145 | 22,339 | |
521,081 | 558,928 | |||
Current assets | ||||
Inventories | 373,057 | 337,033 | ||
Contract assets | 24,581 | - | ||
Trade and note receivables | 5 | 891,218 | 682,644 | |
Prepayments and other receivables | 6 | 289,195 | 261,644 | |
Restricted bank deposits | 7,227 | 2,552 | ||
Cash and cash equivalents | 353,638 | 147,022 | ||
1,938,916 | 1,430,895 | |||
Total assets | 2,459,997 | 1,989,823 | ||
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As at 31 December | |||||
2018 | 2017 | ||||
Note | RMB'000 | RMB'000 | |||
Equity | |||||
Equity attributable to the Company's equity owners | |||||
Share capital | 7 | 1,175 | 975 | ||
Share premium | 845,246 | 591,991 | |||
Other reserves | 298,510 | 346,624 | |||
Currency translation differences | (455,398) | (456,981) | |||
Retained earnings | 468,476 | 397,373 | |||
1,158,009 | 879,982 | ||||
Non-controlling interests | 93,403 | 98,116 | |||
Total equity | 1,251,412 | 978,098 | |||
Liabilities | |||||
Non-current liabilities | |||||
Borrowings | 142,990 | 18,343 | |||
Deferred income tax liabilities | 18,642 | 20,957 | |||
161,632 | 39,300 | ||||
Current liabilities | |||||
Borrowings | 123,274 | 159,021 | |||
Current portion of long-term borrowings | 31,258 | 104,194 | |||
Contract liabilities | 13,956 | - | |||
Trade and note payables | 8 | 702,489 | 516,973 | ||
Accruals and other payables | 9 | 120,475 | 143,878 | ||
Current income tax liabilities | 55,501 | 48,359 | |||
1,046,953 | 972,425 | ||||
Total liabilities | 1,208,585 | 1,011,725 | |||
Total equity and liabilities | 2,459,997 | 1,989,823 | |||
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CONSOLIDATED INCOME STATEMENT | ||||||
Year ended 31 December | ||||||
2018 | 2017 | |||||
Note | RMB'000 | RMB'000 | ||||
Revenue | 4 | 1,471,649 | 1,100,642 | |||
Other (losses)/gains, net | (28,947) | 36,618 | ||||
Operating costs | ||||||
Material costs | (303,544) | (234,966) | ||||
Employee benefit expenses | (409,118) | (366,974) | ||||
Operating lease expenses | (88,400) | (69,413) | ||||
Transportation costs | (27,806) | (18,955) | ||||
Depreciation and amortisation | (71,439) | (92,176) | ||||
Technical service expenses | (219,319) | (188,299) | ||||
(Impairment losses)/reversal of impairment losses | ||||||
of assets | (18,162) | 22,880 | ||||
Net impairment losses of financial and contract assets | (1,481) | - | ||||
Others | (176,522) | (142,545) | ||||
(1,315,791) | (1,090,448) | |||||
Operating profit | 126,911 | 46,812 | ||||
Finance income | 10 | 1,153 | 643 | |||
Finance expenses | 10 | (31,957) | (30,320) | |||
Finance costs, net | 10 | (30,804) | (29,677) | |||
Profit before income tax | 96,107 | 17,135 | ||||
Income tax expense | 11 | (19,468) | (13,875) | |||
Profit from continuing operations | 76,639 | 3,260 | ||||
Profit for the year | 76,639 | 3,260 | ||||
Attributable to: | ||||||
Equity owners of the Company | 81,798 | 5,541 | ||||
Non-controlling interests | (5,159) | (2,281) | ||||
76,639 | 3,260 | |||||
4
Year ended 31 December | ||||||
2018 | 2017 | |||||
Note | RMB'000 | RMB'000 | ||||
Earnings per share for the profit from | ||||||
continuing operations attributable to | ||||||
the equity owners of the Company | ||||||
Basic earnings per share | 13 | 0.047 | 0.004 | |||
Diluted earnings per share | 13 | 0.046 | 0.004 | |||
Earnings per share for the profit attributable | ||||||
to the equity owners of the Company | ||||||
Basic earnings per share | 13 | 0.047 | 0.004 | |||
Diluted earnings per share | 13 | 0.046 | 0.004 | |||
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