CHINA NT PHARMA GROUP COMPANY LIMITED 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.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 01011)
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 HIGHLIGHTSBenefited from sales contribution from newly-acquired product, Miacalcic and expansion of its proprietary product portfolio, both revenue and net profit of the Group recorded new highs after its transformation.
The overall revenue of the Group for the year ended 31 December 2016 increased by RMB67.4 million or 7.9% to RMB915.1 million, as compared with RMB847.7 million for the previous year.
Operating profit for the year ended 31 December 2016 improved significantly, amounting to RMB185.7 million, as compared with an operating profit of RMB136.0 million for the previous year. The improvement in operating result was mainly due to (i) increase of contribution from higher margin products, such as Miacalcic and Shusi; and (ii) lower selling and distribution expenses.
As a result of the improved operating result, the Group reported a net profit of RMB116.2 million for the year ended 31 December 2016, as compared with a net profit of RMB87.7 million for the previous year, representing a significant increase of 32.5% year on year.
Basic earnings per share was RMB7.46 cents for the year ended 31 December 2016, as compared to basic earnings per share of RMB6.19 cents for the year ended 31 December 2015.
Due to the satisfactory results, the Board recommended a final dividend of HK2.5 cents per share for the year ended 31 December 2016, representing an increase of 150% as compared with the final dividend of HK1.0 cent per share for the corresponding period last year.
ANNUAL RESULTSThe board (the "Board") of directors (the "Directors") of China NT Pharma Group Company Limited (the "Company" or "NT Pharma") is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2016, together with the comparative figures for the year ended 31 December 2015 as follows:
CONSOLIDATED INCOME STATEMENTFor the year ended 31 December 2016
Note | 2016 RMB'000 | 2015 RMB'000 | |
Revenue | 3 | 915,119 | 847,726 |
Cost of sales | (421,490) | (396,219) | |
Gross profit | 493,629 | 451,507 | |
Other revenue | 4 | 10,061 | 32,209 |
Other net loss | 5(c) | (13,018) | (232) |
Impairment of trade receivables | 9(b) | (20,222) | (29,072) |
Reversal of impairment of trade receivables | 9(b) | 27,273 | 8,403 |
Impairment of other receivables | (541) | (20,828) | |
Reversal of impairment of other receivables | - | 15,714 | |
Loss on redemption of unsecured debenture | - | (1,868) | |
Selling and distribution expenses | (201,447) | (228,899) | |
Administrative expenses | (110,069) | (90,977) | |
Profit from operations | 185,666 | 135,957 | |
Finance costs | 5(a) | (29,032) | (27,252) |
Share of loss of an associate | (31) | (8,000) | |
Profit before taxation | 5 | 156,603 | 100,705 |
Income tax expense | 6 | (40,843) | (13,011) |
Profit for the year | 115,760 | 87,694 | |
Attributable to: | |||
Equity holders of the Company | 116,181 | 87,694 | |
Non-controlling interests | (421) | - | |
Profit for the year | 115,760 | 87,694 | |
Earnings per share Basic | 7 | 7.46 cents | 6.19 cents |
Diluted | 7 | 7.42 cents | 6.14 cents |
For the year ended 31 December 2016
2016 2015 RMB'000 RMB'000 Profit for the year 115,760 87,694 Other comprehensive income for the yearItem that will not be reclassified to profit or loss:
Revaluation surplus on transfer of owner-occupied property
to investment property 18,032 - Item that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial statements of entities outside the
People's Republic of China ("PRC") 18,365 2,665
Total comprehensive income for the year 152,157 90,359Attributable to: | ||
Equity holders of the Company | 152,578 | 90,359 |
Non-controlling interests | (421) | - |
At 31 December 2016
Note | 2016 RMB'000 | 2015 RMB'000 | |
Non-current assets | |||
Intangible assets | 1,156,700 | 133,425 | |
Goodwill | - | - | |
Property, plant and equipment | 266,625 | 300,501 | |
Interests in leasehold land held | |||
for own use under operating leases | 42,975 | 43,964 | |
Investment property | 42,131 | - | |
Interest in an associate, net | 11,969 | - | |
Deferred tax assets | 57,745 | 87,745 | |
1,578,145 | 565,635 | ||
Current assets | |||
Inventories | 167,062 | 174,834 | |
Trade and other receivables | 9 | 594,908 | 306,460 |
Pledged bank deposits | 133,000 | 23,389 | |
Cash at banks and in hand | 89,624 | 327,995 | |
984,594 | 832,678 | ||
Current liabilities Trade and other payables | 10 | 449,027 | 215,696 |
Bank and other borrowings | 11 | 892,449 | 141,170 |
Unsecured debentures | 13 | - | 120,000 |
Current taxation | 26,103 | 18,724 | |
1,367,579 | 495,590 | ||
Net current (liabilities)/assets | (382,985) | 337,088 | |
Total assets | 2,562,739 | 1,398,313 |
China NT Pharma Group Co. Ltd. published this content on 21 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 March 2017 08:49:13 UTC.
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