SHIFANG HOLDING LTD Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SHIFANG HOLDING LIMITED十 方 控 股 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock code: 1831) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 FINANCIAL HIGHLIGHTS•
Revenue of the Group decreased by 13.7% from RMB67.0 million for the year ended
31 December 2015 to RMB57.8 million for the year ended 31 December 2016.
•
The gross profit of the Group improved from the gross loss of RMB5.8 million for
the year ended 31 December 2015 to the gross profit of RMB9.7 million for the year ended 31 December 2016.
•
The Group recorded a net loss of RMB56.4 million for the year ended 31 December
2016, which is mainly attributable to the (i) decline in newspaper advertising revenue; and (ii) overheads and rental expenses incurred for the Group's business diversification and expansion.
•
The Group recorded a basic loss per share of RMB0.0439 for the year ended 31
December 2016 as compared to a basic loss per share of RMB0.1755 for the year ended 31 December 2015.
•
The Board does not recommend the payment of any final dividend for the year ended
31 December 2016.
The board of directors (the "Board") of ShiFang Holding Limited (the "Company", together with its subsidiaries, the "Group") announces the consolidated results of the Group for the year ended 31 December 2016 together with the comparative figures for the year of 2015.
The financial information set out in this announcement below does not constitute the Group's consolidated financial statements for the year ended 31 December 2016 but represents an
extract from those financial statements. The consolidated reviewed by the audit committee of the Company (the "Audit | financial statements Committee"). | have been |
CONSOLIDATED BALANCE SHEET | ||
As at 31 December 2016 | ||
Note | 2016 RMB'000 | 2015 RMB'000 |
ASSETS | ||
Non-current assets | ||
Property, plant and equipment | 20,093 | 20,443 |
Intangible assets | 1,020 | 1,500 |
Available-for-sale financial asset 6 | 81,775 | - |
Prepayments, deposits and other receivables 8 | 27,157 | 22,907 |
130,045 | 44,850 | |
Current assets | ||
Inventories | 912 | 5,583 |
Properties held for sale 5 | 43,774 | 51,527 |
Trade receivables - net 7 | 6,837 | 9,714 |
Prepayments, deposits and other receivables 8 | 2,734 | 5,382 |
Amounts due from related parties | 292 | 522 |
Cash and cash equivalents | 182,833 | 109,492 |
237,382 | 182,220 | |
Total assets | 367,427 | 227,070 |
EQUITY | ||
Equity attributable to owners | ||
of the Company | ||
Share capital 11 | 123,919 | 86,295 |
Share premium 11 | 816,907 | 636,180 |
Other reserves | 46,980 | 54,971 |
Accumulated deficits | (693,579) | (636,683) |
294,227 | 140,763 | |
Non-controlling interests | 5,692 | 4,955 |
Total equity | 299,919 | 145,718 |
Note | 2016 RMB'000 | 2015 RMB'000 | |
LIABILITIES | |||
Non-current liabilities | |||
Amount due to a related party | 688 | 688 | |
Deferred income tax liabilities | 240 | 360 | |
928 | 1,048 | ||
Current liabilities Trade payables | 9 | 4,170 | 4,488 |
Other payables and accrued expenses | 31,628 | 41,927 | |
Bank borrowings | 10 | 11,350 | 13,579 |
Current income tax liabilities | 19,226 | 19,267 | |
Amounts due to related parties | 206 | 1,043 | |
66,580 | 80,304 | ||
Total liabilities | 67,508 | 81,352 | |
Total equity and liabilities | 367,427 | 227,070 |
For the year ended 31 December 2016
Note | 2016 RMB'000 | 2015 RMB'000 | |
Revenue | 3 | 57,759 | 66,972 |
Cost of sales | 13 | (48,034) | (72,821) |
Gross profit/(loss) | 9,725 | (5,849) | |
Selling and marketing expenses | 13 | (7,953) | (17,085) |
General and administrative expenses | 13 | (47,860) | (88,767) |
Provision for impairment of prepayments, deposits and other receivables | 13 | - | (33,800) |
Other gains/(losses) - net | 12 | 3 | (15,231) |
Other income | 12 | 1,624 | 1,438 |
Operating loss | (44,461) | (159,294) | |
Finance income | 14 | 160 | 206 |
Finance costs | 14 | (12,183) | - |
Finance (costs)/income - net | 14 | (12,023) | 206 |
Share of losses of associates | - | (4,115) | |
Provision for impairment of interests in associates | - | (5,006) | |
Loss before income tax | (56,484) | (168,209) | |
Income tax credit | 15 | 92 | 1,029 |
Loss for the year | (56,392) | (167,180) | |
(Loss)/profit attributable to: | |||
- Owners of the Company | (57,129) | (163,792) | |
- Non-controlling interests | 737 | (3,388) | |
(56,392) | (167,180) |
ShiFang Holding Ltd. published this content on 29 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 March 2017 01:20:09 UTC.
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