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.
China Conch Venture Holdings Limited ʕऎᑮ௴ุછٰϞࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 586)
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
HIGHLIGHTS
• The Group expects to spin-off and separately list the shares of China Conch Environment Protection Holdings Limited ("Conch Environment") (which, together with its subsidiaries, are principally engaged in the solid waste solutions business) on the Main Board of the Stock Exchange by way of introduction, through a distribution in specie to the shareholders of the Company in March 2022. The solid waste solutions business has been classified as discontinued operations of the Group.
• Revenue of the Group for 2021 amounted to approximately RMB8,350.49 million (2020: RMB6,604.57 million), representing an increase of 26.43% as compared to 2020. Revenue of the Group from continuing operations for 2021 amounted to approximately RMB6,680.74 million (2020: RMB5,467.18 million), representing an increase of 22.20% as compared to 2020.
• Net profit attributable to equity shareholders of the Group for 2021 amounted to approximately RMB7,458.13 million (2020: RMB7,617.63 million), representing a decrease of 2.09% as compared to 2020. Net profit attributable to equity shareholders of the Group from continuing operations for 2021 amounted to approximately RMB6,905.39 million (2020: RMB7,144.96 million), representing a decrease of 3.35% as compared to 2020.
• Net profit (excluding share of profits of associates) of our principal activities attributable to equity shareholders of the Group for 2021 amounted to approximately RMB1,289.99 million (2020: RMB1,230.19 million), representing an increase of 4.86% as compared to 2020. Net profit (excluding share of profits of associates) of our principal activities attributable to equity shareholders of the Group from continuing operations for 2021 amounted to approximately RMB747.07 million (2020: RMB768.60 million), representing a decrease of 2.80% as compared to 2020.
• Basic earnings per share for 2021 amounted to RMB4.10 (2020: RMB4.22 per share). Basic earnings per share from continuing operations for 2021 amounted to RMB3.80 (2020: RMB3.96 per share).
• The Board proposed the distribution of a final cash dividend of HK$0.70 per share for 2021 (2020: HK$0.70 per share).
The board (the "Board") of directors (the "Directors") of China Conch Venture Holdings Limited (the "Company") is pleased to announce the audited consolidated results and financial positions for the year ended 31 December 2021 (the "Reporting Period") of the Company and its subsidiaries (the "Group").
CONSOLIDATED STATEMENT OF PROFIT OR LOSS for the year ended 31 December 2021
2021 | 2020 | ||
Note | RMB'000 | RMB'000 | |
(Restated) | |||
Continuing operations | |||
Revenue | 3 | 6,680,738 | 5,467,178 |
Cost of sales | (5,033,282) | (4,055,231) | |
Gross profit | 1,647,456 | 1,411,947 | |
Other net income | 4 | 187,865 | 197,688 |
Distribution costs | (20,228) | (18,434) | |
Administrative expenses | (403,925) | (270,921) | |
Profit from operations | 1,411,168 | 1,320,280 | |
Finance costs | 5(a) | (310,965) | (223,748) |
Share of profits of associates | 6,158,328 | 6,376,356 | |
Profit before taxation | 5 | 7,258,531 | 7,472,888 |
Income tax | 6(a) | (305,105) | (283,164) |
Profit for the year from continuing operations | 6,953,426 | 7,189,724 | |
Discontinued operations | |||
Profit for the year from discontinued operations | 14 | 623,730 | 562,890 |
Profit for the year | 7,577,156 | 7,752,614 |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS (continued) for the year ended 31 December 2021
2021 | 2020 | |
Note | RMB'000 | RMB'000 |
(Restated) | ||
Attributable to equity shareholders | ||
of the Company: | ||
from continuing operations | 6,905,394 | 7,144,957 |
from discontinued operations | 552,735 | 472,670 |
7,458,129 | 7,617,627 | |
Attributable to non-controlling interests | ||
of the Company: | ||
from continuing operations | 48,032 | 44,767 |
from discontinued operations | 70,995 | 90,220 |
119,027 | 134,987 | |
Profit for the year | 7,577,156 | 7,752,614 |
Basic earnings per share | 7(a) | |
from continuing operations (RMB) | 3.80 | 3.96 |
from discontinued operations (RMB) | 0.30 | 0.26 |
4.10 | 4.22 | |
Diluted earnings per share | 7(b) | |
from continuing operations (RMB) | 3.66 | 3.81 |
from discontinued operations (RMB) | 0.29 | 0.25 |
3.95 | 4.06 |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2021 (Expressed in Renminbi Yuan)
2021
RMB'000
2020
RMB'000 (Restated)
Profit for the yearOther comprehensive income for the year
(after tax and reclassification adjustments)
Items that will not be reclassified to profit or loss:
Share of other comprehensive income of associates, net of tax
Items that may be reclassified subsequently to profit or loss:
Share of other comprehensive income of associates, net of tax
Exchange differences on translation of financial statements of overseas subsidiaries
7,577,156
7,752,614
7,061
9,569
(13,016) (29,621)
88,041 169,651
82,086 149,599
Total comprehensive income for the year 7,659,242 7,902,213
Attributable to equity shareholders of the Company:
from continuing operations 6,987,480 7,294,556
from discontinued operations
Attributable to non-controlling interests of the Company: from continuing operations from discontinued operations
552,735
472,670
7,540,215 7,767,226
48,032 44,767 70,995 90,220
Total comprehensive income for the year
119,027 7,659,242
134,987 7,902,213
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China Conch Venture Holdings Ltd. published this content on 28 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 March 2022 16:50:08 UTC.