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HK Bourse: Announcement From Ping Shan Tea Group Ltd.

28 Aug 2017 1:04 am
 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0825/LTN201708251145.pdf 
 
 
 
 
             ANNOUNCEMENT OF INTERIM RESULTS 
            FOR THE SIX MONTHS ENDED 30 JUNE 2017 
 
INTERIM RESULTS 
 
The board (the "Board") of directors (the "Directors") of Ping Shan Tea Group Limited (the 
"Company") is pleased to announce the unaudited condensed consolidated results of the 
Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 
2017 (the "Period"). The interim results for the Period are unaudited, but have been reviewed 
by the audit committee of the Company (the "Audit Committee"). 
 
 
 
 
                                                1 
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS 
For the six months ended 30 June 2017 
                                                            Six months ended 30 June 
                                                                  2017           2016 
                                                              HK$ '000       HK$ '000 
                                                     Note   (unaudited)    (unaudited) 
 
                                                      4 
REVENUE                                                        133,990        159,136 
                                                               (81,250) 
Cost of sales                                                                 (98,927) 
 
GROSS PROFIT                                                     52,740        60,209 
 
Changes in fair value of agricultural produce less 
                                                                 (8,117) 
  costs to sell during the period                                                6,191 
                                                      5           5,143 
Other income                                                                     3,720 
                                                                 (3,765) 
Selling and distribution expenses                                               (8,478) 
Administrative and other 
                                                                (18,835) 
  operating expenses                                                           (21,661) 
 
PROFIT FROM OPERATIONS                                           27,166        39,981 
 
                                                      6        (107,662) 
Finance costs                                                                 (103,731) 
Change in fair value of financial liabilities 
                                                     14           9,687 
  at fair value through profit or loss                                           3,561 
                                                                     76 
Share of profits of associates                                                     524 
 
LOSS BEFORE INCOME TAX                                          (70,733)       (59,665) 
 
                                                      7            596 
Income tax credit/(expense)                                                     (1,679) 
 
                                                      8 
LOSS FOR THE PERIOD                                             (70,137)       (61,344) 
 
ATTRIBUTABLE TO: 
                                                                (70,268) 
  Equity shareholders of the Company                                           (60,904) 
                                                                    131 
  Non-controlling interests                                                       (440) 
 
LOSS FOR THE PERIOD                                             (70,137)       (61,344) 
 
                                                             HK Cents 
                                                      9                     HK Cents 
Loss per share: 
 
                                                                  (0.30) 
  - Basic                                                                        (0.32) 
                                                                   N/A 
  - Diluted                                                                       N/A 
 
 
 
 
                                                2 
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE 
INCOME 
For the six months ended 30 June 2017 
 
                                                 Six months ended 30 June 
                                                       2017           2016 
                                                   HK$ '000       HK$ '000 
                                                 (unaudited)    (unaudited) 
 
 
LOSS FOR THE PERIOD                                  (70,137)       (61,344) 
 
 
OTHER COMPREHENSIVE 
   INCOME/(LOSS), NET OF TAX 
Items that may be subsequently reclassified to 
   profit or loss: 
   Exchange difference on translating foreign 
 
                                                      96,329 
     operations                                                     (86,701) 
   Share of other comprehensive 
                                                       7,393 
     income/(losses) of associates                                   (4,272) 
 
 
                                                    103,722         (90,973) 
 
 
TOTAL COMPREHENSIVE 
  INCOME/(LOSS) FOR THE PERIOD                        33,585       (152,317) 
 
 
ATTRIBUTABLE TO: 
                                                      33,427 
  Equity shareholders of the Company                               (151,675) 
                                                         158 
  Non-controlling interests                                            (642) 
 
 
TOTAL COMPREHENSIVE 
  INCOME/(LOSS) FOR THE PERIOD                        33,585       (152,317) 
 
 
 
 
                                           3 
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL 
POSITION 
At 30 June 2017 
 
                                                           At 30 June   At 31 December 
                                                                 2017              2016 
                                                            HK$ '000          HK$ '000 
                                                  Note    (unaudited)          (audited) 
 
 
NON-CURRENT ASSETS 
 
 
                                                             851,037 
Property, plant and equipment                                                   847,608 
                                                              17,210 
Intangible assets                                                                19,340 
                                                             283,481 
Interests in associates                                                         276,012 
                                                             167,175 
Available-for-sale financial assets                                             164,640 
                                                                   - 
Deposits paid                                                                   425,600 
                                                               1,917 
Prepayments                                                                       1,871 
                                                               4,197 
Deferred tax assets                                                               4,087 
 
 
                                                            1,325,017         1,739,158 
 
 
CURRENT ASSETS 
 
 
                                                               13,983 
Inventories                                                                      11,374 
                                                  10(a)        14,168 
Trade receivables                                                                   110 
                                                  10(b)        29,643 
Prepayments, deposits and other receivables                                     102,201 
                                                            3,009,255 
Cash and bank balances                                                        2,091,168 
 
 
                                                            3,067,049         2,204,853 
 
 
 
 
                                              4 
                                                  At 30 June   At 31 December 
                                                        2017              2016 
                                                   HK$ '000          HK$ '000 
                                          Note   (unaudited)          (audited) 
 
CURRENT LIABILITIES 
                                                     35,202 
Bank loans, secured                                                     34,283 
                                          11         16,907 
Trade payables                                                           7,844 
Receipts in advance, 
                                                    132,914 
  other payables and accruals                                          127,352 
                                                      1,300 
Amount due to a related party                                            1,591 
                                          12        426,591 
Convertible bonds                                                      379,048 
                                          13        893,765 
Debentures                                                             448,849 
Financial liabilities at fair value 
                                          14             27 
  through profit or loss                                                 9,714 
                                                     73,371 
 
 
 
 

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