SINOSTAR PEC HOLDINGS LIMITED (Company Registration No.: 200609833N)
UNAUDITED FINANCIAL STATEMENT FOR THE 3RD QUARTER ENDED 30 SEPTEMBER 2018
PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF YEAR AND FULL YEAR RESULTS
1(a)An income statement and statement of comprehensive income or a statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding year.
Consolidated statements of comprehensive income |
for the 3rd quarter for the period ended 30 September 2018 |
RMB'000 |
3rd Qtr 2017 | +/(-) | 9 months 2018 | 9 months 2017 | +/(-) | ||
RMB'000 | % | RMB'000 | RMB'000 | % | ||
Revenue | 570,161 | 395,606 | 44.1 | 1,616,690 | 1,227,903 | 31.7 |
Cost of sales | (540,762) | (375,121) | 44.2 | (1,523,164) | (1,158,030) | 31.5 |
Gross profit | 29,399 | 20,485 | 43.5 | 93,526 | 69,873 | 33.8 |
Other income | 1,970 | 3,592 | (45.1) | 4,658 | 10,922 | (57.4) |
Distribution costs | (204) | (244) | (16.5) | (430) | (645) | (33.3) |
Administrative costs | (2,362) | (2,745) | (14.0) | (7,786) | (8,520) | (8.6) |
Other operating expenses | (831) | (7) | NM | (1,023) | (32) | NM |
Profit before taxation | 27,972 | 21,081 | 32.7 | 88,945 | 71,598 | 24.2 |
Taxation | (8,095) | (6,396) | 26.6 | (23,100) | (18,721) | 23.4 |
Total comprehensive income for the financial period | 19,877 | 14,685 | 35.4 | 65,845 | 52,877 | 24.5 |
NM - Not meaningful | ||||||
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3rd Qtr 2018
Notes to the Consolidated statement of comprehensive income
3rd Quarter Ended
30/09/2018 | 30/09/2017 | Change (+/-) | |
RMB'000 | RMB'000 | % | |
Profit before tax is arrived at after | |||
charging/(crediting): | |||
Interest income | (1,970) | (3,592) | (45.2) |
Disposal of property, plant and equipment | 247 | 68 | 100.0 |
Depreciation of property, plant and equipment | 3,818 | 5,848 | (34.7) |
NM - Not meaningful |
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1(b)(i)
ASSETS NON-CURRENT ASSETS
A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.
GROUP | COMPANY |
30/09/2018 31/12/2017 | 30/09/2018 31/12/2017 |
RMB'000 RMB'000 | RMB'000 RMB'000 |
Property, plant and equipment | 110,529 | 85,312 | - | - |
Goodwill | 2,501 | 2,501 | - | - |
Subsidiary | - | - | 250,041 | 250,041 |
113,030 | 87,813 | 250,041 | 250,041 | |
CURRENT ASSETS | ||||
Inventories | 24,957 | 25,443 | - | - |
Trade and other receivables | 14,299 | 17,380 | - | - |
Amount owing by subsidiary | - | - | 13,290 | 37,977 |
Amounts owing by affiliated companies | 235,768 | 166,268 | - | - |
Cash and cash equivalents | 382,278 | 438,349 | 3,986 | 111 |
657,303 | 647,440 | 17,276 | 38,088 | |
TOTAL ASSETS | 770,332 | 735,253 | 267,317 | 288,129 |
EQUITY | ||||
Share capital | 316,125 | 316,125 | 316,125 | 316,125 |
Retained profits/(accumulated losses) | 351,061 | 300,571 | (48,822) | (29,647) |
Reserves | 51,985 | 51,985 | - | - |
TOTAL EQUITY | 719,171 | 668,681 | 267,303 | 286,478 |
LIABILITIES | ||||
CURRENT LIABILITIES | ||||
Trade and other payables | 48,649 | 52,719 | 14 | 1,651 |
Amounts owing to affiliated companies | - | 10,113 | - | - |
Current tax payable | 2,512 | 3,740 | - | - |
51,161 | 66,572 | 14 | 1,651 | |
TOTAL EQUITY AND LIABILITIES | 770,332 | 735,253 | 267,317 | 288,129 |
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1(b)(ii)Aggregate amount of group's borrowings and debt securities.
Amount repayable in one year or less, or on demandAs at 30/09/2018
As at 31/12/2017
Secured | Unsecured | |
RMB'000 | RMB'000 | RMB'000 |
- | - |
Secured RMB'000
-
Amount repayable after one yearAs at 30/09/2018
Secured RMB'000 -Unsecured RMB'000 -Details of any collateralUnsecured
-
As at 31/12/2017
Secured RMB'000
NIL
Page 4 of 15
Unsecured RMB'000
-
-
1(c) A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.
Consolidated statement of cash flows for the period
ended 30 September 2018
3rd quarter ended
30/09/2018 | 30/09/2017 | |
RMB'000 | RMB'000 | |
Cash flows from operating activities | ||
Profit before taxation | 27,972 | 21,081 |
Adjustments for:- | ||
Depreciation of property, plant and equipment | 3,818 | 5,848 |
Loss on disposal of property, plant and equipment | 247 | 68 |
Interest income | (1,970) | (3,592) |
Operating profit before working capital changes | 30,067 | 23,405 |
Decrease in inventories | 3,216 | 15,221 |
Increase in operating receivables | (35,372) | (7,598) |
Increase/(decrease) in operating payables | 7,029 | (19,436) |
Cash generated from operations | 4,940 | 11,592 |
Income tax paid | (8,754) | (3,674) |
Net cash (used in)/generated from operating activities | (3,814) | 7,918 |
Cash flows from investing activities | ||
Acquisition of property, plant and equipment | (27,969) | (988) |
Interest received | 1,970 | 3,592 |
Net cash (used in)/generated from investing activities | (25,999) | 2,604 |
Net (decrease)/increase in cash and bank balances | (29,813) | 10,522 |
Cash and bank balances at beginning of period | 412,091 | 520,928 |
Cash and bank balances at end of period | 382,278 | 531,450 |
For the purpose of the consolidated statement of cash flows, the cash and cash equivalents comprise the following:
Cash-in-hand | 133 | 225 |
Bank balances | 275,145 | 331,225 |
Cash funds placed with financial institutions | 107,000 | 200,000 |
382,278 | 531,450 |
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Sinostar PEC Holdings Limited published this content on 12 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 November 2018 14:28:03 UTC