Y T Realty : 2018 Annual Results Announcement

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.

渝 太 地 產 集 團 有 限 公 司*

Y. T. REALTY GROUP LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 75)

2 0 1 8 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 2018. The results have been reviewed by the audit committee of the Company.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Year ended 31 December 2018

Notes	2018	2017
HK$'000	HK$'000
(Restated)
REVENUE
Rental income	47,546	45,273
Interest income	3,071	591
Total revenue	2, 3	50,617	45,864
Direct outgoings	(2,226)	(71)
48,391	45,793
Other income and other net losses	(4,209)	2,197
Administrative expenses	(11,450)	(8,136)
Changes in fair value of investment properties	51,414	15,853
PROFIT BEFORE TAX	4	84,146	55,707
Income tax expense	5	(1,837)	(943)
PROFIT FOR THE YEAR ATTRIBUTABLE TO
EQUITY HOLDERS OF THE COMPANY	82,309	54,764
EARNINGS PER SHARE ATTRIBUTABLE TO
ORDINARY EQUITY HOLDERS OF THE
COMPANY
Basic and diluted	7	HK10.3 cents	HK6.8 cents
Per share information:
- Proposed final dividend per share	HK1 cent	HK1 cent
- Net asset value per share	HK$2.04	HK$2.03

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December 2018

2018

2017

HK$'000

HK$'000

PROFIT FOR THE YEAR

OTHER COMPREHENSIVE (LOSS)/INCOME

Other comprehensive (loss)/income that may be reclassified to profit or loss in subsequent periods: Change in fair value of an available-for-sale investment Exchange differences on translation of foreign operations

Net other comprehensive (loss)/income that may be reclassified to profit or loss in subsequent periods

Other comprehensive income that will not be reclassified to profit or loss in subsequent periods:

Change in fair value of an equity investment designated at fair value through other comprehensive income

OTHER COMPREHENSIVE (LOSS)/INCOME

FOR THE YEAR

TOTAL COMPREHENSIVE INCOME FOR

THE YEAR ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY

82,309

54,764

-

280

(67,268) 111,871

(67,268) 112,151

370

-

(66,898) 112,151

15,411 166,915

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2018

Notes	2018	2017
HK$'000	HK$'000
(Restated)
NON-CURRENT ASSETS
Property, plant and equipment	912	170
Investment properties	1,212,690	1,216,548
Intangible asset	13,680	16,760
Equity investment designated at fair value
through other comprehensive income	2,220	-
Available-for-sale investment	-	1,850
Debt investments at amortised cost	12,400	-
Deposits	279	-
Total non-current assets	1,242,181	1,235,328
CURRENT ASSETS
Trade receivables	8	-	44
Other receivables, deposits and prepayments	3,242	10,162
Cash and cash equivalents	415,523	407,121
Total current assets	418,765	417,327
CURRENT LIABILITIES
Trade payables	9	-	95
Other payables and accrued expenses	16,540	17,235
Tax payable	4,170	4,318
Total current liabilities	20,710	21,648
NET CURRENT ASSETS	398,055	395,679
TOTAL ASSETS LESS CURRENT LIABILITIES	1,640,236	1,631,007
NON-CURRENT LIABILITIES
Deferred tax liabilities	4,068	4,243
Other payables	5,208	3,219
Total non-current liabilities	9,276	7,462
Net assets	1,630,960	1,623,545
EQUITY
Equity attributable to equity holders of the Company
Issued share capital	79,956	79,956
Reserves	1,551,004	1,543,589
Total equity	1,630,960	1,623,545

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 an equity investment designated at fair value through other comprehensive income, which have been measured at fair value. These financial statements are presented in Hong Kong dollars ("HK$") and all values are rounded to the nearest thousand except when otherwise indicated.

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

Amendments to HKFRS 2	Classification and Measurement of Share-based
Payment Transactions
Amendments to HKFRS 4	Applying HKFRS 9 Financial Instruments with
HKFRS 4 Insurance Contracts
HKFRS 9	Financial Instruments
HKFRS 15	Revenue from Contracts with Customers
Amendments to HKFRS 15	Clarifications to HKFRS 15 Revenue from Contracts
with Customers
Amendments to HKAS 40	Transfers of Investment Property
HK(IFRIC)-Int 22	Foreign Currency Transactions and Advance
Consideration
Annual Improvements	Amendments to HKFRS 1 and HKAS 28
2014-2016 Cycle

Other than as explained below regarding the impact of HKFRS 9, the adoption of the above new and revised standards has had no significant financial effect on these financial statements.

HKFRS 9 Financial Instruments replaces HKAS 39 Financial Instruments: Recognition and

Measurement for annual periods beginning on or after 1 January 2018, bringing together all three aspects of the accounting for financial instruments: classification and measurement; impairment; and hedge accounting.

The Group has recognised the transition adjustments against the applicable opening balances in equity at 1 January 2018. Therefore, the comparative information was not restated and continues to be reported under HKAS 39.

1

Basis of preparation and accounting policies (continued)

Classification and measurement

A reconciliation between the carrying amounts under HKAS 39 and the balances reported under HKFRS 9 as at 1 January 2018 is as follows:

Financial assets

Equity investment designated at fair value through other comprehensive income

HKAS 39 measurement

Note

Re-Category

Amount classificationHKFRS 9 measurement

Amount HK$'000

Category

HK$'000

HK$'000

N/A

-1,850

1,850

FVOCI1

From: Available-for-sale investment

(i)

1,850

Available-for-sale investment

AFS2

1,850

(1,850)

-

N/A

To: Equity investment designated at fair value through other comprehensive income

(i)

(1,850)Trade receivables

Financial assets included in other receivables, deposits and prepayments

L&R3

44

-

44

AC4

L&R

10,027

-10,027

AC

Cash and cash equivalents

Total

L&R

_4_0_7,_12_1 _____- __4_0_7,_12_1 _4_1_9,_04_2 _____- __4_1_9,_04_2

ACFinancial liabilities Trade payablesAC

95

-

95

ACFinancial liabilities included in other payables and accrued expenses

Total

AC

__17_,3_09_ _____- ___1_7,_30_9 __17_,4_04_ _____- ___1_7,_40_4

AC

1	FVOCI:	Financial assets designated at fair value through other comprehensive income
2	AFS:	Available-for-sale investment
3	L&R:	Loans and receivables
4	AC:	Financial assets or financial liabilities at amortised cost
Note:
(i)

The Group has elected the option to irrevocably designate its previously available-for-sale equity investment as an equity investment designated at fair value through other comprehensive income.