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CHINA ENVIRONMENTAL RESOURCES GROUP LIMITED
中 國 環 境 資 源 集 團 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1130)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX MONTHS ENDED 31 DECEMBER 2021
FINANCIAL RESULTS
The board of directors (the "Board") of China Environmental Resources Group Limited (the "Company") announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 31 December 2021 together with the comparative figures for the corresponding period in 2020. The interim financial statements have not been audited, but have been reviewed by the audit committee and auditor of the Company.
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the six months ended 31 December 2021
Six months ended | |||||||
31 December | |||||||
2021 | 2020 | ||||||
Notes | HK$'000 | HK$'000 | |||||
(Unaudited) | (Unaudited) | ||||||
Revenue | 5 | 39,460 | 34,151 | ||||
Cost of sales | (29,599) | (24,743) | |||||
Gross profit | 9,861 | 9,408 | |||||
Other income | 4,217 | 3,496 | |||||
Administrative and operating expenses | (19,091) | (20,457) | |||||
Fair value loss on investment properties | (3,267) | (1,031) | |||||
Gain/(loss) arising from changes in fair value less | |||||||
costs to sell of biological assets | 3,756 | (334) | |||||
Net gain/(loss) on fair value changes in | |||||||
investments | |||||||
at fair value through profit or loss | 207 | (106) | |||||
Provision for impairment loss of intangible assets | - | (2,900) | |||||
Reversal of provision/(provision) for impairment | |||||||
loss of receivables | 300 | (119) | |||||
Loss from operations | (4,017) | (12,043) | |||||
Finance costs | 6 | (1,779) | (1,056) | ||||
Loss before tax | (5,796) | (13,099) | |||||
Income tax (expense)/credit | 7 | (618) | 186 | ||||
Loss for the period | (6,414) | (12,913) | |||||
Other comprehensive income after tax: | |||||||
Item that may be reclassified to profit or loss: | |||||||
Exchange differences on translation of foreign | |||||||
operations | 6,867 | 26,762 | |||||
Other comprehensive income for the period, | |||||||
net of tax | 6,867 | 26,762 | |||||
Total comprehensive income for the period | 453 | 13,849 | |||||
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Six months ended | |||||
31 December | |||||
2021 | 2020 | ||||
Notes | HK$'000 | HK$'000 | |||
(Unaudited) | (Unaudited) | ||||
Loss for the period attributable to: | |||||
Owners of the Company | (7,809) | (13,626) | |||
Non-controlling interests | 1,395 | 713 | |||
(6,414) | (12,913) | ||||
Total comprehensive (loss)/income for the period | |||||
attributable to: | |||||
Owners of the Company | (1,131) | 12,395 | |||
Non-controlling interests | 1,584 | 1,454 | |||
453 | 13,849 | ||||
Loss per share | 8 | ||||
Basic (HK cents per share) | (0.38) | (0.67) | |||
Diluted (HK cents per share) | (0.38) | (0.67) | |||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2021
As at | As at | ||||
31 December | 30 June | ||||
2021 | 2021 | ||||
Notes | HK$'000 | HK$'000 | |||
(Unaudited) | (Audited) | ||||
Non-current assets | |||||
Property, plant and equipment | 10 | 7,848 | 7,740 | ||
Right-of-use assets | 39,304 | 21,716 | |||
Investment properties | 265,762 | 267,534 | |||
Biological assets | 273,399 | 264,209 | |||
Intangible assets | 89,074 | 89,893 | |||
Goodwill | 1,087 | 1,087 | |||
Investments at fair value through profit or loss | 17,661 | 17,203 | |||
Loans receivable | 12 | 84 | - | ||
694,219 | 669,382 | ||||
Current assets | |||||
Inventories | 28,154 | 25,264 | |||
Trade and other receivables | 11 | 58,873 | 60,728 | ||
Loans receivable | 12 | 12,766 | 12,142 | ||
Investments at fair value through profit or loss | 3,877 | 1,129 | |||
Refundable secured deposit | 13 | 11,000 | 12,000 | ||
Bank and cash balances | 3,763 | 19,005 | |||
118,433 | 130,268 | ||||
Current liabilities | |||||
Trade and other payables | 14 | 29,864 | 32,987 | ||
Contract liabilities | 8,435 | 6,700 | |||
Lease liabilities | 4,896 | 10,948 | |||
Borrowings | 69,734 | 71,787 | |||
Current tax liabilities | 468 | 2,867 | |||
113,397 | 125,289 | ||||
Net current assets | 5,036 | 4,979 | |||
Total assets less current liabilities | 699,255 | 674,361 | |||
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As at | As at | |||
31 December | 30 June | |||
2021 | 2021 | |||
Notes | HK$'000 | HK$'000 | ||
(Unaudited) | (Audited) | |||
Non-current liabilities | ||||
Lease liabilities | 47,766 | 26,600 | ||
Other non-current payables | 1,174 | - | ||
Deferred tax liabilities | 90,161 | 88,060 | ||
139,101 | 114,660 | |||
NET ASSETS | 560,154 | 559,701 | ||
Capital and reserves | ||||
Share capital | 40,731 | 40,731 | ||
Reserves | 507,233 | 508,364 | ||
Equity attributable to owners of the Company | 547,964 | 549,095 | ||
Non-controlling interests | 12,190 | 10,606 | ||
TOTAL EQUITY | 560,154 | 559,701 | ||
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China Environmental Resources Group Ltd. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 09:31:07 UTC.