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.
北京京客隆商業集團股份有限公司
BEIJING JINGKELONG COMPANY LIMITED*
(a joint stock limited company incorporated in the People's Republic of China)
(Stock Code: 814)
UNAUDITED CONSOLIDATED RESULTS
FOR THE THREE MONTHS ENDED 31 MARCH 2019
The board of directors (the "Board") of Beijing Jingkelong Company Limited (the "Company", together with its subsidiaries, the "Group") hereby announces the unaudited consolidated results of the Group for the three months ended 31 March 2019 prepared in accordance with China Accounting Standards. This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on the Stock Exchange).
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UNAUDITED CONSOLIDATED RESULTS | |||
For the three months | |||
ended 31 March | |||
2019 | 2018 | ||
Note | RMB'000 | RMB'000 | |
1. Total operating income | 1 | 3,310,802 | 3,409,981 |
Including: principal operating income | 3,042,164 | 3,119,097 | |
Less:operating costs | 2,629,537 | 2,709,155 | |
Tax and surcharges | 14,148 | 15,100 | |
*Selling expenses | 491,784 | 516,585 | |
Administrative expenses | 75,377 | 69,865 | |
*Financial expense | 50,024 | 41,869 | |
Impairment losses on credits | 0 | 0 | |
Add:investment income | 108 | 5,455 | |
Changes in fair value of profit and loss | 0 | (5,046) | |
Gains on disposal of assets | (10) | (22) | |
Other income | 2,745 | 2,966 | |
2. *operating profit | 52,775 | 60,760 | |
Add:Non-operating income | 1,078 | 284 | |
Less:Non-operating expense | 769 | 2,972 | |
3. *Total profit | 53,084 | 58,072 | |
Less:income tax expense | 17,925 | 18,492 | |
4. *Net profit | 35,159 | 39,580 | |
*Net profit attributable to shareholders of the | 25,049 | 25,700 | |
parent company | |||
Profit or loss attributable to minority interests | 10,110 | 13,880 |
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*the Group has implemented the "Accounting Standards for Business Enterprises No. 21 - Leases" (Finance [2018] No. 35) (hereinafter referred to as the "New Standards") revised by the Ministry of Finance since 1 January 2019, the impact of the implementation of the New Standards on the Group's profit and loss at first quarter is as follows:
The first quarter of year 2019 | ||||||
The first | change rate | change rate | Variation | |||
compared | generated by | |||||
quarter of | New | Former | compared with | |||
year 2018 | with | corresponding | the differece | |||
accounting | corresponding | accounting | of new and | |||
period(former | ||||||
standard | period(new | standard | former | |||
accounting | ||||||
accounting | accounting | |||||
standard) | ||||||
standard) | standards | |||||
Selling | ||||||
expenses | ||||||
516,585 | 491,784 | (4.80%) | 500,131 | (3.19%) | (8,347) | |
Including: | 45,869 | 86,595 | 88.79% | 42,902 | (6.47%) | 43,693 |
depreciation | ||||||
Rental | 58,734 | 15,373 | (73.83%) | 67,413 | 14.78% | (52,040) |
expense | ||||||
Financial | 41,868 | 50,024 | 19.48% | 36,241 | (13.44%) | 13,783 |
expenses | ||||||
Operating | 60,760 | 52,775 | (13.14%) | 58,211 | (4.20%) | (5,436) |
profit | ||||||
Total profit | 58,072 | 53,084 | (8.59%) | 58,521 | 0.77% | (5,436) |
Income tax | 18,492 | 17,925 | (3.07%) | 19,749 | 6.80% | (1,824) |
expense | ||||||
Net profit | 39,580 | 35,159 | (11.17%) | 38,772 | (2.04%) | (3,613) |
Net profit | ||||||
attributable | ||||||
to | 25,700 | 25,049 | (2.53%) | 28,182 | 9.66% | (3,133) |
sharehoders | ||||||
of the parent | ||||||
company |
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Notes: | ||
1. Principal operating income | For the three months | |
ended 31 March | ||
2019 | 2018 | |
RMB'000 | RMB'000 | |
Retail business | ||
--Hypermarkets | 333,402 | 358,668 |
--Supermarkets | 709,723 | 784,351 |
--Convenience stores | 90,229 | 93,671 |
--Department Stores | 8,017 | 10,989 |
(including commissions) | 6,599 | 9,295 |
Total retail principal operating income | 1,141,371 | 1,247,679 |
Wholesale principal operating income recognized by | 2,026,828 | 2,038,155 |
Chaopi Group* | ||
Less: Intersegment sales | (131,029) | (181,078) |
Add: Sales to franchisees by the company | 894 | 919 |
Consolidated wholesale principal operating income | 1,896,693 | 1,857,996 |
Other principal operating income | 4,100 | 13,422 |
Total principal operating income | 3,042,164 | 3,119,097 |
* Chaopi Group represents Beijing Chaopi Trading Company Limited and its subsidiaries.
2. Gross profit margin
Retail business of directly-operated hypermarkets, supermarkets and convenience stores
Wholesale business recognised by Chaopi Group including intersegment sales
For the three months ended 31 March
2019 2018
(%)(%)
17.04% 16.94%
10.57%9.33%
3.Three directly-operated convenience stores were set up, a department store and five convenience stores (including 2 directly-operated convenience stores and 3 franchised convenience stores) were closed during the three months end 31 March 2019. The total number of retail outlets was 203 as at 31 March 2019.
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The Board wishes to remind investors that the above figures are based on the Group's unaudited management accounts. Investors are cautioned not to unduly rely on such data.
In the meantime, investors are advised to exercise caution in dealing in the securities of the Company.
By Order of the Board
Beijing Jingkelong Company Limited
Li Jianwen
Chairman
Beijing, the PRC
26 April 2019
As at the date of this announcement, the executive directors of the Company are Mr. Li Jianwen, Mr. Shang Yongtian, Ms. Li Chunyan and Mr. Liu Yuejin; the non-executive directors are Ms. Zhang Yan and Mr. Li Shunxiang; and the independent non-executive directors are Mr. Wang Liping, Mr. Chen Liping and Mr. Choi Onward.
* For identification purpose only
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Beijing Jingkelong Company Limited published this content on 26 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2019 09:37:05 UTC