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O-NET TECHNOLOGIES (GROUP) LIMITED
昂 納 科 技( 集 團 )有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 877)
INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2019
RESULTS
The board (the ''Board'') of directors (the ''Directors'') of O-Net Technologies (Group) Limited (the ''Company'') is pleased to announce the unaudited condensed consolidated interim financial statements of the Company and its subsidiaries (collectively, the ''Group'') for the six months ended 30 June 2019 together with the comparative figures. The unaudited condensed consolidated interim financial statements have not been audited or reviewed by the Company's auditor, but have been reviewed by the Company's audit committee (the ''Audit Committee'').
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS (All amounts in Hong Kong dollar thousands unless otherwise stated)
(Unaudited) | |||||
For the six months | |||||
ended 30 June | |||||
2019 | 2018 | ||||
Note(s) | HKD'000 | HKD'000 | |||
Revenue | 4 | 1,403,363 | 1,207,636 | ||
Cost of sales | (989,202) | (845,367) | |||
Gross profit | 414,161 | 362,269 | |||
Other gains - net | 22,096 | 60,451 | |||
Selling and marketing costs | (45,239) | (45,301) | |||
Research and development expenses | (154,750) | (131,318) | |||
Administrative expenses | (113,004) | (104,718) | |||
Operating profit | 123,264 | 141,383 | |||
Finance expenses - net | 8 | (15,355) | (12,921) | ||
Share of losses of investments accounted for | |||||
using equity method | (4,615) | (609) | |||
Profit before income tax | 7 | 103,294 | 127,853 | ||
Income tax expenses | 9 | (23,003) | (18,470) | ||
Profit for the period | 80,291 | 109,383 | |||
Profit attributable to: | |||||
Equity holders of the Company | 83,114 | 111,854 | |||
Non-controlling interests | (2,823) | (2,471) | |||
80,291 | 109,383 | ||||
Earnings per share for profit attributable to equity | |||||
holders of the Company (HKD per share) | |||||
- Basic | 11 | 0.10 | 0.14 | ||
- Diluted | 11 | 0.10 | 0.14 | ||
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CONDENSED CONSOLIDATED BALANCE SHEET
(All amounts in Hong Kong dollar thousands unless otherwise stated)
As at | As at | |||
30 June | 31 December | |||
2019 | 2018 | |||
(Unaudited) | (Audited) | |||
Note(s) | HKD'000 | HKD'000 | ||
ASSETS | ||||
Non-current assets | ||||
Land use right | - | 23,120 | ||
Property, plant and equipment | 1,061,945 | 957,831 | ||
Right-of-use assets | 95,622 | - | ||
Intangible assets | 244,547 | 90,423 | ||
Investments accounted for using equity method | 26,504 | 31,119 | ||
Deferred income tax assets | - | 698 | ||
Financial assets at fair value through | ||||
other comprehensive income | 8,590 | 1,656 | ||
Derivative financial instruments | 97 | 97 | ||
Other non-current receivables | 5 | - | 126,832 | |
Other non-current assets | 30,768 | 157,154 | ||
1,468,073 | 1,388,930 | |||
Current assets | ||||
Inventories | 562,257 | 501,025 | ||
Contract assets | 16,357 | 27,180 | ||
Trade and other receivables | 5 | 958,705 | 865,885 | |
Other current assets | 547 | 4,186 | ||
Financial assets at fair value through profit or loss | 17,408 | 24,891 | ||
Pledged bank deposits | 6,239 | 65,672 | ||
Cash and cash equivalents | 520,451 | 341,591 | ||
2,081,964 | 1,830,430 | |||
Total assets | 3,550,037 | 3,219,360 | ||
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As at | As at | ||||
30 June | 31 December | ||||
2019 | 2018 | ||||
(Unaudited) | (Audited) | ||||
Note(s) | HKD'000 | HKD'000 | |||
EQUITY | |||||
Capital and reserves attributable to | |||||
equity holders of the Company | |||||
Share capital | 8,025 | 8,020 | |||
Share premium | 1,107,726 | 1,105,589 | |||
Treasury shares | (60,847) | (60,847) | |||
Other reserves | 69,163 | 56,918 | |||
Retained earnings | 1,207,732 | 1,139,778 | |||
2,331,799 | 2,249,458 | ||||
Non-controlling interests | (4,817) | (1,994) | |||
Total equity | 2,326,982 | 2,247,464 | |||
LIABILITIES | |||||
Non-current liabilities | |||||
Deferred tax liabilities | 27,472 | 11,953 | |||
Leased liabilities | 64,117 | - | |||
Deferred government grants | 10,694 | 11,676 | |||
102,283 | 23,629 | ||||
Current liabilities | |||||
Trade and other payables | 6 | 500,982 | 428,750 | ||
Contract liabilities | 13,589 | 9,997 | |||
Leased liabilities | 12,840 | - | |||
Current income tax liabilities | 44,101 | 21,750 | |||
Borrowings | 549,260 | 487,770 | |||
1,120,772 | 948,267 | ||||
Total liabilities | 1,223,055 | 971,896 | |||
Total equity and liabilities | 3,550,037 | 3,219,360 | |||
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(All amounts in Hong Kong dollar thousands unless otherwise stated)
(Unaudited) | ||||
For the six months | ||||
ended 30 June | ||||
2019 | 2018 | |||
HKD'000 | HKD'000 | |||
Profit for the period | 80,291 | 109,383 | ||
Other comprehensive expense | ||||
Item that may be reclassified to profit or loss | ||||
Currency translation differences | (6,693) | (24,797) | ||
Total comprehensive income for the period | 73,598 | 84,586 | ||
Attributable to: | ||||
Equity holders of the Company | 76,421 | 87,055 | ||
Non-controlling interests | (2,823) | (2,469) | ||
Total comprehensive income for the period | 73,598 | 84,586 | ||
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O-Net Technologies (Group) Ltd. published this content on 20 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2019 09:01:10 UTC