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HK Bourse: Results Announcement From Yuanshengtai Dairy Farm Ltd.

28 Aug 2017 3:31 am
 
    For full details, please click on the following link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0825/LTN20170825619.pdf 
 
 
 
 
                        INTERIM RESULTS ANNOUNCEMENT 
                      FOR THE SIX MONTHS ENDED 30 JUNE 2017 
 
INTERIM RESULTS 
 
The board (the "Board") of directors (the "Directors") of YuanShengTai Dairy Farm Limited (the "Company" 
or "YuanShengTai") announces the unaudited condensed consolidated interim results of the Company and 
its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017 (the "Period") together 
with selected explanatory notes and the relevant comparative figures. 
 
 
 
 
                                                     -1- 
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER 
COMPREHENSIVE INCOME 
Six-month period ended 30 June 2017 
 
                                                                         Six-month period ended 
                                                                                30 June 
                                                                              2017              2016 
                                                                        (Unaudited)       (Unaudited) 
                                                                Notes 
                                                                          RMB'000           RMB'000 
 
REVENUE                                                                     492,457           514,355 
                                                                           (360,779) 
Cost of sales                                                                                (337,935) 
 
 
                                                                            131,678 
Gross profit                                                                                 176,420 
 
                                                                             27,495 
Other income                                                                                    5,647 
                                                                             (9,519) 
Selling and distribution expenses                                                              (9,049) 
                                                                            (30,492) 
Administrative expenses                                                                       (52,857) 
                                                                            (13,627) 
Other expenses                                                                                      - 
                                                                           (122,714) 
Changes in fair value less costs to sell of biological assets                                (255,728) 
                                                                 7 
 
 
LOSS BEFORE TAX                                                             (17,179)         (135,567) 
                                                                 3 
                                                                                  - 
Income tax expense                                                                                  - 
 
 
LOSS FOR THE PERIOD                                                         (17,179)         (135,567) 
 
 
Other comprehensive (loss)/income to be reclassified to 
  profit or loss in subsequent periods: 
  Exchange differences on translation of foreign 
                                                                            (19,198) 
    operations                                                                                   948 
 
 
TOTAL COMPREHENSIVE LOSS FOR THE 
 PERIOD                                                                     (36,377)         (134,619) 
 
 
LOSS PER SHARE ATTRIBUTABLE TO 
 ORDINARY EQUITY HOLDERS 
 OF THE PARENT 
                                                                             (0.004) 
 Basic and diluted (expressed in RMB per share)                                                (0.035) 
                                                                 5 
 
 
 
 
                                                     -2- 
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
30 June 2017 
 
                                                              30 June 2017 31 December 2016 
                                                               (Unaudited)        (Audited) 
                                                      Notes 
                                                                  RMB'000          RMB'000 
 
NON-CURRENT ASSETS 
                                                                 2,420,896 
Property, plant and equipment                                                     2,453,485 
                                                       6 
                                                                    93,125 
 
Prepaid land lease payments                                                          96,732 
                                                                    71,200 
Prepayments for property, plant and equipment                                        72,696 
                                                                 1,133,820 
Biological assets                                                                 1,101,641 
                                                       7 
 
 
                                                                 3,719,041 
Total non-current assets                                                          3,724,554 
 
 
CURRENT ASSETS 
                                                                   203,412 
Inventories                                                                         316,622 
                                                                   104,001 
Trade receivables                                                                   105,742 
                                                       8 
                                                                   122,318 
Prepayments and other receivables                                                    20,807 
                                                                     6,100 
Prepaid land lease payments                                                           5,720 
                                                                 1,210,779 
Cash and cash equivalents                                                           870,134 
 
 
                                                                 1,646,610 
Total current assets                                                              1,319,025 
 
 
CURRENT LIABILITIES 
                                                                  144,469 
Trade and bills payables                                                            185,113 
                                                        9 
                                                                  556,725 
Other payables and accruals                                                         502,753 
                                                       10 
 
 
                                                                  701,194 
Total current liabilities                                                           687,866 
 
 
NET CURRENT ASSETS                                                945,416           631,159 
 
 
NET ASSETS                                                       4,664,457        4,355,713 
 
 
EQUITY 
                                                                    37,674 
Issued capital                                                                       30,727 
                                                       11 
                                                                 4,626,783 
Reserves                                                                          4,324,986 
 
 
                                                                 4,664,457 
Total equity                                                                      4,355,713 
 
 
 
 
                                                -3- 
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 
30 June 2017 
 
1.    BASIS OF PREPARATION AND CHANGES TO THE GROUP'S ACCOUNTING POLICIES 
 
1.1   Basis of preparation 
 
      The interim condensed consolidated financial statements for the Period have been prepared in accordance with International 
      Accounting Standard ("IAS") 34 Interim Financial Reporting issued by the International Accounting Standard Board and the 
      disclosure requirements of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange. 
 
      The interim condensed consolidated financial statements do not include all the information and disclosures required in the 
      annual financial statements, and should be read in conjunction with the Group's annual financial statements for the year ended 
      31 December 2016. 
 
1.2   New standards, interpretations and amendments adopted by the Group 
 
      The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent 
      with those followed in the preparation of the Group's annual consolidated financial statements for the year ended 31 December 
      2016, except for the adoption of new standards effective as of 1 January 2017. The Group has not early adopted any other 
      standard, interpretation or amendment that has been issued but is not yet effective. 
 
      The nature and the effect of these changes are disclosed below. Although these amendments apply for the first time in 2017, 
 
 
 
 

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