|
30 June 31 December
2017 2016
Note
RMB'000 RMB'000
(unaudited) (audited)
Non-current liabilities
100,000
Interest-bearing borrowings 11 80,000
30,962
Contingent consideration payable 46,093
52,932
Deferred income 49,449
16,586
Deferred tax liabilities 15,241
200,480 190,783
Net assets 975,182 885,890
Capital and reserves
75,458
Share capital 73,687
870,862
Reserves 784,444
Total equity attributable to equity shareholders
of the Company 946,320 858,131
Non-controlling interests 28,862 27,759
Total equity 975,182 885,890
-4-
NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS
1. REPORTING ENTITY AND BACKGROUND INFORMATION
Huan Yue Interactive Holdings Limited (the "Company") was incorporated in the Cayman Islands as
an exempted company with limited liability on 19 July 2007 under the Companies Law, Cap. 22 (Law 3
of 1961, as consolidated and revised) of the Cayman Islands. The Company's shares were listed on the
Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 27 December
2007 (the "Listing Date").
The interim financial report as at and for the six months ended 30 June 2017 comprise the Company
and its subsidiaries (together referred to as the "Group"). The principal activities of the Group are the
manufacture and sales of high precision copper plates and strips, trading of raw materials, and provision
of processing services. After the acquisition of an online games business in August 2016, the Group's
activities also include developing, publishing and operating online games and provision of related services.
2. BASIS OF PREPARATION
The preliminary announcement of Company's interim results has been prepared in accordance with the
applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange
of Hong Kong Limited.
The Company's interim financial report has been prepared in accordance with International Accounting
Standard ("IAS") 34, Interim financial reporting, issued by the International Accounting Standards Board
("IASB") and has been prepared in accordance with the same accounting policies adopted in the 2016
annual financial statements, except for the accounting policy changes that are expected to be reflected in
the 2017 annual financial statements. Details of any changes in accounting policies are set out in note 3.
The preparation of an interim financial report in conformity with IAS 34 requires management to make
judgments, estimates and assumptions that affect the application of policies and reported amounts of assets
and liabilities, income and expenses on a year to date basis. Actual results may differ from these estimates.
This interim financial report contains unaudited condensed consolidated financial statements and selected
explanatory notes. The notes include an explanation of events and transactions that are significant to an
understanding of the changes in financial position and performance of the group since the 2016 annual
financial statements. The condensed consolidated interim financial statements and notes thereon do not
include all of the information required for full set of financial statements prepared in accordance with
International Financial Reporting Standards ("IFRSs").
In preparing the interim financial report, the Directors have given careful consideration to the future
liquidity of the Group for the twelve months from the end of the reporting period in light of the Group's
financial position and substantial capital commitment.
-5-
As at 30 June 2017, the Group had net current liabilities of approximately RMB76.6 million. The Group
had unutilised banking facilities of RMB737.7 million as at 30 June 2017 that will not expire within 12
months from 30 June 2017. Taking into account the Group's financial position, results of operations and
credit history, the Directors considered it is unlikely that the banks will terminate the facilities granted to
the Group prior to their expiry and the Directors did not foresee any difficulties for the Group to renew
the facilities. Taking into account such, in the opinion of the Directors, the Group will have sufficient
working capital for the twelve months after the end of the reporting period and thus it is appropriate to
prepare the condensed consolidated interim financial statements on the going concern basis.
3. CHANGE IN ACCOUNTING POLICIES
The IASB has issued several amendments to IFRSs that are first effective for the current accounting
period of the Group. None of these developments has had a material effect on how the Group's results
and financial position for the current or prior periods have been prepared or presented in the Company's
interim financial report for the six months ended 30 June 2017.
The Group has not applied any new standard or interpretation that is not yet effective for the current
accounting period.
4. REVENUE AND SEGMENT REPORTING
(a) Revenue
The principal activities of the Group are (i) the manufacture and sales of high precision copper
plates and strips, trading of raw materials, provision of processing services; and (ii) developing,
publishing and operating online games and provision of related services.
The amount of each significant category of revenue recognised during the interim period is as follows:
Six months ended 30 June
2017 2016
RMB'000 RMB'000
(unaudited) (unaudited)
Copper products related:
1,765,747
- Sales of high precision copper plates and strips 1,397,445
98,791
- Processing service fees 70,368
123,346
- Trading of raw materials 24,999
1,987,884 1,492,812
Online games related:
5,380
- Technical service income -
7,515
- Publishing and operating online games -
961
- Others -
13,856 -
2,001,740 1,492,812
-6-
(b) Segment reporting
The Group manages its businesses by business lines. In a manner consistent with the way in which
information is reported internally to the Group's most senior executive management for the purposes
of resource allocation and performance assessment, the Group has presented the following two
(MORE TO FOLLOW) Dow Jones Newswires
August 27, 2017 22:14 ET (02:14 GMT)
|
|
| Disclaimer
|
|
|
|
|
|
|
