Tianjin Binhai Teda Log : Interim Report 2019(Finance)

天津濱海泰達物流集團股份有限公司

Tianjin Binhai Teda Logistics (Group) Corporation Limited*

2019

Interim Report

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

Stock Code: 8348

* For identification purposes only

Interim Report 2019

1

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, 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 report.

This report, for which the directors (the "Directors") of Tianjin Binhai Teda Logistics (Group) Corporation Limited* (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.

2 Tianjin Binhai Teda Logistics (Group) Corporation Limited

HIGHLIGHTS

The following are the financial highlights during the six months ended 30 June 2019:

•	Total turnover amounted to RMB1,436,846,000 (corresponding period in 2018: RMB1,138,229,000),
	representing an increase of approximately 26.24% as compared with the corresponding period last year.
•	Gross profit was approximately RMB82,084,000 (corresponding period in 2018: RMB59,046,000),
	representing an increase of approximately 39.02% as compared with the corresponding period last year.
•	Gross profit margin was approximately 5.71%, representing an increase of approximately 0.52
	percentage points as compared with 5.19% achieved in the corresponding period last year.
•	Profit attributable to shareholders amounted to approximately RMB10,340,000 (corresponding period
	in 2018: RMB1,919,000), representing an increase of approximately 439% as compared with the
	corresponding period last year.
•	Earnings per share was RMB2.9 cent (corresponding period in 2018: RMB0.5 cents).

Interim Report 2019

3

Unaudited consolidated interim results of 2019

The board of Directors (the "Board") of Tianjin Binhai Teda Logistics (Group) Corporation Limited (the "Company") hereby reports the unaudited results of the Company and its subsidiaries (collectively the "Group") for the six months ended 30 June 2019 together with the unaudited comparative data for the corresponding period in 2018.

Condensed consolidated statement of profit or loss and other comprehensive income (unaudited)

For the six months ended 30 June 2019

			Six months ended 30 June
			2019	2018
			RMB'000	RMB'000
		Notes	(Unaudited)	(Unaudited)
Revenue	4	1,436,846	1,138,229
Cost of sales	7	(1,354,762)	(1,079,183)
Gross profit		82,084	59,046
Administrative expenses	7	(27,928)	(30,580)
Other income	5	5,843	2,341
Other (losses)/gains - net		(184)	77
Operating profit		59,815	30,884
Finance costs	6	(22,088)	(9,906)
Share of results of investments accounted
	for using the equity method		8,353	4,906
Profit before income tax		46,080	25,884
Income tax expense	8	(16,678)	(10,006)
Profit for the period and total
	comprehensive income for the period		29,402	15,878
Attributable to:
	Owners of the Company		10,340	1,919
	Non-controlling interests		19,062	13,959
Earnings per share	10
	- Basic and diluted (RMB cents)		2.9	0.5

4 Tianjin Binhai Teda Logistics (Group) Corporation Limited

Condensed consolidated statement of financial position (unaudited)

As at 30 June 2019

		30 June	31 December
		2019	2018
		RMB'000	RMB'000
	Notes	(Unaudited)	(Audited)
Non-current assets		156,000
Property, plant and equipment		161,142
Land use rights		18,151	18,917
Investment properties		306,700	306,700
Investments accounted for using		228,852
the equity method		239,151
Equity instruments at fair value through other comprehensive		18,500
income		18,500
		728,203	744,410
Current assets		1,518
Inventories		1,533
Trade and other receivables	12	1,566,481	1,296,654
Pledged bank deposits		240,910	172,591
Cash and cash equivalents		421,295	387,273
		2,230,204	1,858,051
Total assets		2,958,407	2,602,461
Share capital	15	354,312	354,312
Other reserves		114,338	107,916
Retained earnings		498,767	494,849
		967,417	957,077
Non-controlling interests		104,322	108,859
Total equity		1,071,739	1,065,936
Non-current liabilities		57,923
Deferred tax liabilities		57,923
Deferred income		5,002	5,177
Obligations under finance lease		51,145	7,304
		114,070	70,404
Current liabilities		816,404
Trade and other payables	13	708,353
Contract liabilities		326,549	202,042
Current income tax liabilities		11,738	6,072
Borrowings	14	552,648	504,520
Obligations under finance lease		65,259	45,134
		1,772,598	1,466,121
Total liabilities		1,886,668	1,536,525
Total equity and liabilities		2,958,407	2,602,461
Net current assets		457,606	391,930
Total assets less current liabilities		1,185,809	1,136,340