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HK Bourse: Announcement From Xingye Copper International Group Ltd. -6-

28 Aug 2017 2:15 am
 
 
 
                                                                                    637,411           829,592 
 
 
      As of the end of the reporting period, the ageing analysis of trade and bill payables (which are included 
      in trade and other payables), based on the invoice date or issuing date, is as follows: 
 
                                                                                         At                 At 
                                                                                   30 June       31 December 
                                                                                      2017               2016 
                                                                                  RMB'000           RMB'000 
                                                                                (unaudited)          (audited) 
 
                                                                                    399,896 
      Within   3 months                                                                               473,412 
                                                                                     47,350 
      Over 3   months but within 6 months                                                             150,283 
                                                                                     85,870 
      Over 6   months but within 1 year                                                                27,037 
                                                                                      2,727 
      Over 1   year                                                                                     2,171 
 
                                                                                    535,843           652,903 
 
 
 
 
                                                     - 15 - 
11.   INTEREST-BEARING BORROWINGS 
 
      At 30 June 2017, the interest-bearing borrowings were repayable based on scheduled repayment dates set 
      out in the loan agreements as follow: 
 
                                                                                                At              At 
                                                                                          30 June    31 December 
                                                                                             2017            2016 
                                                                                         RMB'000        RMB'000 
                                                                                       (unaudited)       (audited) 
 
      Current 
                                                                                          510,900 
      Short-term secured bank loans                                                                       172,700 
                                                                                           97,482 
      Unsecured bank loans                                                                                200,803 
                                                                                           22,000 
      Bank advances under discounted bills                                                                 20,000 
                                                                                          131,000 
      Current portion of non-current secured bank loans                                                   228,768 
 
                                                                                          761,382         622,271 
 
 
      Non-current 
                                                                                          100,000 
      Secured bank loans                                                                                   80,000 
                                                                             761,382 
 
 
 
 
                                                                                          861,382         702,271 
 
 
      (i)    The Group's long-term bank loans were repayable as follows: 
 
                                                                                                At              At 
                                                                                          30 June    31 December 
                                                                                             2017            2016 
                                                                                         RMB'000        RMB'000 
                                                                                       (unaudited)       (audited) 
 
                                                                                          131,000 
 
             Within 1 year                                                                                228,768 
 
                                                                                           40,000 
             Over 1 year but less than 2 years                                                                  - 
                                                                                           60,000 
             Over 2 years but less than 5 years                                                            80,000 
 
                                                                                          100,000          80,000 
 
                                                                                          231,000         308,768 
 
 
      (ii)   The Group's interest-bearing borrowings in the amount of RMB303,000,000 (2016: RMB80,000,000) 
             are subject to the fulfilment of financial covenants relating to certain of the Group's balance sheet 
             ratios, as are commonly found in lending arrangements with financial institutions. As at and during 
             the period ended 30 June 2017, none of the covenants relating to drawn down facilities was breached. 
 
 
 
 
                                                      - 16 - 
      (iii)   The secured bank loans as at 30 June 2017 bore interest at rates ranging from 1.82% to 6.25% 
              (2016: 1.28% to 6.72%) per annum and were pledged by the following assets: 
 
                                                                                        At                 At 
                                                                                  30 June       31 December 
                                                                                     2017               2016 
                                                                                 RMB'000           RMB'000 
                                                                               (unaudited)          (audited) 
 
              Carrying amounts of assets: 
                                                                                   255,670 
              Inventories                                                                             255,670 
                                                                                   740,324 
              Property, plant and equipment                                                           897,591 
                                                                                    13,661 
              Lease prepayments                                                                        13,840 
                                                                                    60,980 
              Pledged bank deposits                                                                         - 
 
                                                                                 1,070,635          1,167,101 
 
 
      (iv)    The unsecured bank loans as at 30 June 2017 bore interest at rates ranging from 1.49% to 6.88% 
              (2016: 1.28% to 4.57%) per annum. 
 
12.   SHARE AWARD SCHEME 
 
      On 18 April 2016 (the "Adoption Date"), the Company adopted a share award scheme (the "Share 
      Award Scheme"), which does not constitute a share option scheme pursuant to Chapter 17 of the Listing 
      Rules, to recognise and reward the contribution of eligible employees to the growth and development of 
      the Group through an award of the Company's shares. 
 
      The Company appointed a trustee for administration of the Share Award Scheme (the "Trustee"). The 
      principal activity of the Trustee is administrating and holding the Company's shares for the Share Award 
      Scheme for the benefit of the Company's eligible employees. Pursuant to the Share Award Scheme, the 
      Company's shares will be purchased by the Trustee in the market out of cash contributed by the Company 
      and held in the Trust for relevant employees until such shares are vested in the relevant beneficiary in 
      accordance with the provisions of the Share Award Scheme at no cost. The total number of the Company's 
      shares held by the Trustee under the Share Award Scheme will not exceed 20% of the total issued shares 
      of the Company as at the Adoption Date. 
 
      As at 30 June 2017, the Trustee had purchased 6,744,000 shares of the Company at a total cost (including 
      related transaction costs) of RMB5,170,000. 
 
      According to the Resolution of the Administration Committee on 26 May 2017, 1,000,000 ordinary shares 
      held under the Share Award Scheme were granted to an employee of the Group which will vest within 
      three years. The grant date fair value of HKD0.7 per share (equivalent to approximately RMB0.62 per 
 
 
 
 

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