CONCORD NEW ENERGY GROUP 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.
Concord New Energy Group Limited
協合新能源集團有限公司*
(Incorporated in Bermuda with limited liability)
(Stock code: 182)
ANNOUNCEMENT OF INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2021
The board of directors (the "Directors") of Concord New Energy Group Limited (the "Company") announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2021, together with the comparative figures for the corresponding period in 2020. These condensed consolidated financial statements are unaudited but have been reviewed by the Company's audit committee.
*for identification purpose only
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the six months ended 30 June 2021 - Unaudited
2021 | 2020 | ||
Notes | RMB'000 | RMB'000 | |
Revenue | 2,3 | 970,259 | 999,540 |
Cost of sales and services rendered | (332,739) | (357,088) | |
─────────── | ─────────── | ||
Gross profit | 637,520 | 642,452 | |
Other income | 4 | 25,462 | 17,333 |
Other gains and losses, net | 5 | (732) | 63,990 |
Impairment losses under expected credit loss model, net of | |||
reversal | 6 | 10,830 | (24,025) |
Distribution and selling expenses | (5,859) | (6,134) | |
Administrative expenses | (135,091) | (156,700) | |
Finance costs | 7 | (208,255) | (202,575) |
Share of profit of joint ventures, net | 112,348 | 83,622 | |
Share of profit of associates, net | 7,476 | 6,186 | |
─────────── | ─────────── | ||
Profit before income tax | 443,699 | 424,149 | |
Income tax expense | 8 | (27,028) | (42,579) |
─────────── | ─────────── | ||
Profit for the period | 416,671 | 381,570 | |
═══════════ | ═══════════ | ||
Profit or the period attributable to: | |||
Equity shareholders of the Company | 403,213 | 379,389 | |
Non-controlling interests | 13,458 | 2,181 | |
─────────── | ─────────── | ||
416,671 | 381,570 | ||
═══════════ | ═══════════ | ||
Earnings per share | |||
Basic (RMB cents) | 9(a) | 4.90 | 4.60 |
═══════════ | ═══════════ | ||
Diluted (RMB cents) | 9(b) | 4.85 | 4.31 |
═══════════ | ═══════════ |
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 30 June 2021 - Unaudited
2021 | 2020 | |
RMB'000 | RMB'000 | |
Profit for the period | 416,671 | 381,570 |
-------------------- | -------------------- | |
Other comprehensive income: | ||
Item that may be reclassified subsequently to profit or loss | ||
Exchange differences on translation of foreign operations | 4,088 | (1,476) |
─────────── | ─────────── | |
Other comprehensive income for the period, net of tax | 4,088 | (1,476) |
-------------------- | -------------------- | |
Total comprehensive income for the period | 420,759 | 380,094 |
═══════════ | ═══════════ | |
Total comprehensive income attributable to: | ||
Equity shareholders of the Company | 407,017 | 378,342 |
Non-controlling interests | 13,742 | 1,752 |
─────────── | ─────────── | |
420,759 | 380,094 | |
═══════════ | ═══════════ |
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 June 2021 - Unaudited
30 June | 31 December | ||
2021 | 2020 | ||
Unaudited | Audited | ||
Notes | RMB'000 | RMB'000 | |
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 9,005,215 | 9,335,866 | |
Right-of-use assets | 472,605 | 503,990 | |
Intangible assets | 829,497 | 874,259 | |
Interests in associates | 463,240 | 476,814 | |
Interests in joint ventures | 1,258,817 | 1,509,941 | |
Financial assets at fair value through profit or loss | 109,994 | 50,416 | |
Contract assets | 11 | 72,167 | 48,126 |
Prepayments, deposits and other receivables | 1,330,549 | 988,712 | |
Finance lease receivables | 66,453 | 18,814 | |
Loan receivables | 6,528 | 20,248 | |
Deferred tax assets | 38,337 | 37,650 | |
─────────── | ─────────── | ||
13,653,402 | 13,864,836 | ||
-------------------- | -------------------- | ||
Current assets | |||
Inventories | 16,402 | 12,148 | |
Contract assets | 11 | 524,649 | 669,655 |
Trade and bill receivables | 12 | 1,398,632 | 1,148,588 |
Prepayments, deposits and other receivables | 583,023 | 1,098,489 | |
Finance lease receivables | 10,968 | 5,326 | |
Loan receivables | 2,567 | 9,146 | |
Amounts due from associates | 75,482 | 77,860 | |
Amounts due from joint ventures | 31,660 | 34,164 | |
Cash and cash equivalents | 1,345,958 | 2,280,459 | |
Restricted deposits | 431,098 | 327,610 | |
─────────── | ─────────── | ||
4,420,439 | 5,663,445 | ||
-------------------- | -------------------- | ||
Assets classified as held for sale | 13 | 2,010,470 | - |
-------------------- | -------------------- | ||
6,430,909 | 5,663,445 | ||
─────────── | ─────────── | ||
Total assets | 20,084,311 | 19,528,281 | |
═══════════ | ═══════════ | ||
LIABILITIES | |||
Non-current liabilities | |||
Bank borrowings | 897,254 | 1,336,002 | |
Other borrowings | 5,851,788 | 5,834,431 | |
Senior notes payable | 549,263 | 552,803 | |
Convertible loan | 328,013 | 355,270 | |
Lease liabilities | 61,238 | 65,552 | |
Deferred tax liabilities | 1,014 | 4,626 | |
Deferred government grants | 14,218 | 14,693 | |
Payables for construction in progress, | |||
other payables and accruals | 498,979 | 518,552 | |
Financial guarantee contract liabilities | 24,344 | 22,542 | |
─────────── | ─────────── | ||
8,226,111 | 8,704,471 | ||
-------------------- | -------------------- |
3
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) | |||
As at 30 June 2021 - Unaudited | |||
30 June | 31 December | ||
2021 | 2020 | ||
Unaudited | Audited | ||
Notes | RMB'000 | RMB'000 | |
Current liabilities | |||
Trade and bill payables | 14 | 1,161,016 | 959,970 |
Payables for construction in progress, | |||
other payables and accruals | 1,474,850 | 1,779,996 | |
Contract liabilities | 55,583 | 63,681 | |
Amounts due to joint ventures | 4,686 | 4,873 | |
Bank borrowings | 153,300 | 171,245 | |
Other borrowings | 585,631 | 412,819 | |
Senior notes payable | 16,795 | 811,215 | |
Convertible loan | 136,613 | 76,395 | |
Lease liabilities | 10,562 | 10,562 | |
Financial guarantee contract liabilities | 7,718 | 8,599 | |
Current income tax liabilities | 17,252 | 29,953 | |
─────────── | ─────────── | ||
3,624,006 | 4,329,308 | ||
-------------------- | -------------------- | ||
Liabilities associated with assets classified as held for sale | 13 | 1,527,223 | - |
-------------------- | -------------------- | ||
5,151,229 | 4,329,308 | ||
─────────── | ─────────── | ||
Total liabilities | 13,377,340 | 13,033,779 | |
═══════════ | ═══════════ | ||
Net current assets | 1,279,680 | 1,334,137 | |
═══════════ | ═══════════ | ||
Total assets less current liabilities | 14,933,082 | 15,198,973 | |
═══════════ | ═══════════ | ||
Net assets | 6,706,971 | 6,494,502 | |
═══════════ | ═══════════ | ||
EQUITY | |||
Share capital | 15 | 72,412 | 72,412 |
Reserves | 6,549,483 | 6,347,456 | |
─────────── | ─────────── | ||
Total equity attributable to equity shareholders of the | |||
Company | 6,621,895 | 6,419,868 | |
Non-controlling interests | 85,076 | 74,634 | |
─────────── | ─────────── | ||
Total equity | 6,706,971 | 6,494,502 | |
═══════════ | ═══════════ |
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Concord New Energy Group Ltd. published this content on 04 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2021 04:45:05 UTC.
