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.

WANG TAI HOLDINGS LIMITED

宏太控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1400) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTS

  • Revenue decreased to approximately RMB132.6 million for the six months ended 30 June 2017, representing a decrease of 59.5%, as compared with revenue of RMB327.2 million for the six months ended 30 June 2016

  • Gross loss margin increased from 0.9% for the six months ended 30 June 2016, as compared to loss of approximately 5.2% for the six months ended 30 June 2017

  • Net loss margin increased from 10.3% for the six months ended 30 June 2016, as compared to loss of approximately 35.1% for the six months ended 30 June 2017

  • Loss attributable to owners of the Company increased to loss of approximately RMB46.5 million for the six months ended 30 June 2017, representing an increase of 37.6%, as compared with loss of RMB33.8 million for the six months ended 30 June 2016

  • Loss per share for the six months ended 30 June 2017 increased to loss of RMB0.03 cent as compared with loss per share of RMB0.02 cents for the six months ended 30 June 2016

  • No dividend will be declared for the six months ended 30 June 2017

CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME Unaudited Six months ended 30 June

Note

2017

RMB'000

2016

RMB'000

Revenue

6

132,588

327,150

Cost of sales

16

(139,510)

(330,183)

Gross loss

(6,922)

(3,034)

Selling expenses

16

(1,069)

(1,026)

Administrative expenses

16

(10,075)

(18,582)

Other (loss)/income - net

(175)

1,144

Operating loss

(18,241)

(21,498)

Finance income

96

1,248

Finance costs

(21,593)

(16,057)

Finance costs - net

17

(21,497)

(14,809)

Share of loss of investments accounted for using equity method

8

(9,645)

-

Loss before income tax

(49,383)

(36,307)

Income tax credit

18

2,854

2,500

Loss for the period and attributable to the owners

(46,529)

(33,807)

Other comprehensive income

-

-

Total comprehensive loss for the period and attributable to the owners

(46,529)

(33,807)

Earnings per share for loss for the period and attributable to the owners (expressed in RMB cent per share) 19

- Basic and diluted (0.03) (0.02)

Dividends 20 - -

The notes on pages 7 to 26 form an integral part of these consolidated interim financial information.

CONDENSED CONSOLIDATED INTERIM BALANCE SHEET

Note

Unaudited

As at 30 June

2017

RMB'000

Audited

As at 31 December

2016

RMB'000

ASSETS

Non-current assets

Leasehold land and land use rights

7

24,059

24,338

Property, plant and equipment

7

380,487

405,430

Deferred income tax assets

32,836

29,746

Available-for-sale financial assets

4,500

4,500

Investment accounted for using equity method

8

77,211

86,856

519,093

550,870

Current assets

Inventories

9

58,180

49,937

Trade and other receivables and prepayments

10

662,635

686,189

Cash and bank balances

11

57,585

4,082

Restricted bank deposits

11

8,000

20,960

786,400

761,168

Total assets

1,305,493

1,312,038

EQUITY

Capital and reserve attributable to owners of the Company

Share capital

12

124,010

124,010

Other reserves

12

638,406

638,406

Accumulated loss

(205,212)

(158,683)

Total equity

557,204

603,733

Unaudited Audited As at 30 June 2017

As at 31 December

2016

Note RMB'000 RMB'000

LIABILITIES Non-current liabilities

Borrowings 13 242,328 277,988

Other payables 15 1,436 -

Deferred income 14 17,727 18,104

261,491 296,092 Current liabilities

Borrowings 13 398,264 261,609

Trade and other payables 15 88,534 149,618 Current income tax liabilities - 986

486,798 412,213 Total liabilities 748,289 708,305 Total equity and liabilities 1,305,493 1,312,038

The notes on pages 7 to 26 form an integral part of these consolidated interim financial information.

Wang Tai Holdings Ltd. published this content on 29 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 02:12:04 UTC.

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