Login ID:
Password:
Partner Login
Contact Us : 7066511911

HK Bourse: Results Announcement From Yuanshengtai Dairy Farm Ltd. -3-

28 Aug 2017 3:32 am
 
 
 
                                                                                                       Heads             Heads 
 
                                                                                                     1,133,820 
     Dairy cows                                                                                                           1,101,641 
 
 
                                                                      Heifers and calves        Milkable cows                Total 
                                                                               RMB'000              RMB'000                RMB'000 
 
     Balance as at 1 January 2016                                                 502,449              748,980            1,251,429 
 
     Increase due to raising (feeding costs and others)                           290,037                    -              290,037 
     Increase due to purchase                                                      27,024                    -               27,024 
     Transfer (out)/in                                                           (303,205)             303,205                    - 
     Decrease due to sales                                                         (8,260)             (51,536)             (59,796) 
     Loss arising from changes in fair value less costs to sell                   (61,374)            (345,679)            (407,053) 
 
 
     Balance as at 31 December 2016 and 1 January 2017 (audited)                  446,671              654,970            1,101,641 
 
                                                                                  161,854                    -              161,854 
     Increase due to raising (feeding costs and others) 
                                                                                   33,836                    -               33,836 
     Increase due to purchase 
                                                                                 (120,498)             120,498                    - 
     Transfer (out)/in 
                                                                                  (18,908)             (21,889)             (40,797) 
     Decrease due to sales 
                                                                                   (4,764)            (117,950)            (122,714) 
     Loss arising from changes in fair value less costs to sell 
 
 
                                                                                  498,191              635,629            1,133,820 
     Balance as at 30 June 2017 (unaudited) 
 
 
 
 
                                                              -6- 
     C - Fair value hierarchy 
 
     The following tables illustrate the fair value measurement hierarchy of the Group's biological assets: 
 
                                                                                                                               Fair value 
                                                                                                                            measurement 
                                                                                                                         using significant 
                                                                                                                            unobservable 
                                                                                                                          inputs (Level 3) 
                                                                                                                                 RMB'000 
 
                                                                                                                                 1,133,820 
     As at 30 June 2017 (unaudited) 
 
 
     As at 31 December 2016 (audited)                                                                                            1,101,641 
 
 
     Fair value of milk produced less costs to sell at the point of harvest is as follows: 
 
                                                                                                    Six-month period ended 30 June 
                                                                                                             2017               2016 
                                                                                                       (Unaudited)       (Unaudited) 
                                                                                                         RMB'000            RMB'000 
 
                                                                                                            482,938 
     Fair value of milk produced less costs to sell                                                                                505,306 
 
 
 
8.   TRADE RECEIVABLES 
 
     An aged analysis of the trade receivables as at the end of period/year, based on the invoice date and net of provisions, is as follows: 
 
                                                                                                      30 June 2017 31 December 2016 
                                                                                                       (Unaudited)         (Audited) 
                                                                                                          RMB'000          RMB'000 
 
                                                                                                              61,053 
     Within 1 month                                                                                                                 87,852 
                                                                                                              26,239 
     1 month to 2 months                                                                                                            17,890 
                                                                                                              16,709 
     Over 2 months                                                                                                                       - 
 
 
                                                                                                            104,001                105,742 
 
 
     The Group's trading terms with its customers are mainly on credit. The credit period is generally one month. The Group seeks 
     to maintain strict control over its outstanding receivables and has a credit control department to minimise credit risk. Overdue 
     balances are reviewed regularly by senior management. Trade receivables are non-interest-bearing. 
 
     No provision for impairment of trade receivables for the Period was made (six-month period ended 30 June 2016: Nil). 
 
 
 
 
                                                                -7- 
9.    TRADE AND BILLS PAYABLES 
 
      An aged analysis of the trade and bills payables as at the end of the period/year, based on the invoice date, is as follows: 
 
                                                                                                   30 June 2017 31 December 2016 
                                                                                                    (Unaudited)         (Audited) 
                                                                                                       RMB'000          RMB'000 
 
                                                                                                          94,958 
      Within 2 months                                                                                                         138,425 
                                                                                                          38,542 
      2 to 6 months                                                                                                            37,136 
                                                                                                           7,012 
      6 to 12 months                                                                                                            5,354 
                                                                                                           3,957 
      Over 1 year                                                                                                               4,198 
 
 
                                                                                                         144,469              185,113 
 
 
      Trade and bills payables are non-interest-bearing and are normally settled on terms of two to six months. 
 
10.   OTHER PAYABLES AND ACCRUALS 
 
                                                                                                   30 June 2017 31 December 2016 
                                                                                                    (Unaudited)         (Audited) 
                                                                                                       RMB'000          RMB'000 
 
                                                                                                         172,593 
      Deferred income                                                                                                         169,667 
                                                                                                         126,876 
      Other payables - construction                                                                                           210,207 
                                                                                                          12,580 
 
 
 
 

(MORE TO FOLLOW) Dow Jones Newswires

August 27, 2017 23:32 ET (03:32 GMT)
Disclaimer
Top 5 Special Reports
USD/INR (Jun. 20) Testing the Lower End of a Multi-W...
USD/MYR
USD/CNY & USD/IDR
CRB Index & U.S. Dollar Index
USD/ARS & USD/BRL