Y T Realty : 2016 Results Announcement

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Y. T. REALTY GROUP LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 75) 2 0 1 6 Annual Results Announcement

The board of directors of Y. T. Realty Group Limited (the "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2016. The results have been reviewed by the audit committee of the Company.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Year ended 31 December 2016

Notes	2016 HK$'000	2015 HK$'000
REVENUE	2, 3	66,653	218,691
Direct outgoings	(832)	(5,302)
65,821	213,389
Other income and other net losses	83,214	1,608
Administrative expenses	(14,396)	(49,453)
Finance costs	(455)	(2,795)
Changes in fair value of investment properties	55,259	137,135
Share of results of an associate	176,198	258,200
Share of results of a joint venture	756	4,238
PROFIT BEFORE TAX	4	366,397	562,322
Income tax expense	5	(10,285)	(27,970)
PROFIT FOR THE YEAR ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY	356,112	534,352

EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE

COMPANY
Basic and diluted	7	HK44.5 cents	HK66.8 cents

Per share information: - Proposed final dividend per share	Nil	Nil
- Net asset value per share	HK$1.82	HK$8.27

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 December 2016

2016 HK$'000	2015 HK$'000
PROFIT FOR THE YEAR	356,112	534,352
OTHER COMPREHENSIVE INCOME/(LOSS)
Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods: Changes in fair value of other investments	(207)	150
Share of other comprehensive (loss)/income of an associate	(15,575)	75,505
Share of other comprehensive loss of a joint venture Release of exchange fluctuation reserve upon deemed disposal of a joint venture	(14,117) 18,690	(4,573) -

Exchange differences on translation of foreign

operations (108,920) -

Release of investment revaluation reserve upon deemed

disposal of an associate (71,891) -

Release of other reserves upon deemed disposal of an

associate (143) -

OTHER COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR (192,163) 71,082 TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY 163,949 605,434 CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 December 2016

Notes	2016 HK$'000	2015 HK$'000
NON-CURRENT ASSETS Property, plant and equipment	95	1,342
Investment properties	1,093,054	4,099,900
Investment in an associate	-	2,236,514
Investment in a joint venture	-	119,665
Other investments	1,570	1,777
Total non-current assets	1,094,719	6,459,198
CURRENT ASSETS Trade receivables	8	1,427	605
Other receivables, deposits and prepayments	879	6,998
Cash and cash equivalents	390,399	417,138
Total current assets	392,705	424,741
CURRENT LIABILITIES Trade payables	9	79	735
Other payables and accrued expenses	22,042	100,368
Bank loans, secured	-	81,600
Tax payable	4,905	827
Total current liabilities	27,026	183,530
NET CURRENT ASSETS	365,679	241,211
TOTAL ASSETS LESS CURRENT LIABILITIES	1,460,398	6,700,409
NON-CURRENT LIABILITIES Deferred tax liabilities	3,768	84,390
Total non-current liabilities	3,768	84,390
Net assets	1,456,630	6,616,019
EQUITY Equity attributable to equity holders of the Company Issued share capital	79,956	79,956
Reserves	1,376,674	6,536,063
Total equity	1,456,630	6,616,019

Notes:

1 Basis of preparation and accounting policies

These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") (which include all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards ("HKASs") and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention, except for investment properties and other investments, which have been measured at fair value.

The Group has adopted the following new and revised HKFRSs for the first time for the current year's financial statements.

Amendments to HKFRS 10, HKFRS 12 and HKAS 28

(2011)

Investment Entities: Applying the Consolidation Exception

Amendments to HKFRS 11 Accounting for Acquisitions of Interests in Joint Operations

HKFRS 14 Regulatory Deferral Accounts

Amendments to HKAS 1 Disclosure Initiative

Amendments to HKAS 16 and HKAS 38

Amendments to HKAS 16 and HKAS 41

Amendments to HKAS 27 (2011)

Annual Improvements 2012-2014 Cycle

Clarification of Acceptable Methods of Depreciation and Amortisation

Agriculture: Bearer Plants

Equity Method in Separate Financial Statements

Amendments to a number of HKFRSs

The adoption of the above new and revised HKFRSs has had no significant financial effect on these financial statements.

The Group has not early applied any new and revised HKFRSs, that have been issued but are not yet effective, in these financial statements. However, the Group is in the process of making an assessment of the impact of the new and revised HKFRSs upon initial application, certain of which may be relevant to the Group's operation and may result in changes in the Group's accounting policies, and changes in presentation and measurement of certain items of the Group's financial information.