Qinqin Foodstuffs Cayman : INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 (in PDF)

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Qinqin Foodstuffs Group (Cayman) Company Limited

親親食品集 團（ 開曼 ）股 份有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1583) INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017

FINANCIAL HIGHLIGHTS

KEY FINANCIAL PERFORMANCE Consolidated Income Statement Unaudited Six months ended 30 June 2017 2016 % of RMB'000 RMB'000 change Revenue 567,964 617,746 -8.1% Operating profit 32,386 33,062 -2.0% Profit attributable to shareholders 20,052 19,248 4.2% Earnings per share - Basic and diluted RMB0.042 RMB0.040 Consolidated Balance Sheet 30 June 31 December 2017 2016 % of RMB'000 RMB'000 change Cash and cash equivalents 319,841 346,308 -7.6% Bank borrowing NIL NIL N/A Net current assets 316,814 279,786 13.2% Net assets 696,916 676,697 3.0%

KEY FINANCIAL RATIOS 30 June 30 June Change 2017 2016 (% points) Gross profit margin 41.2% 45.5% 4.3 Return on equity (annualised) 5.8% 5.7% 0.1 Current ratio (times) 3.9 2.6 Finished goods turnover days 15 days 7 days Trade receivables turnover days 4 days 6 days

INTERIM FINANCIAL INFORMATION

The Board of Directors of Qinqin Foodstuffs Group (Cayman) Company Limited (the "Company") (the "Board") is pleased to present the unaudited interim condensed consolidated income statements, comprehensive income, changes in equity and cash flows of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2017, and the unaudited interim condensed consolidated balance sheet of the Group as at 30 June 2017, together with the comparative figures and selected explanatory notes. The interim financial information has been reviewed by the Company's audit committee and the Company's auditor, PricewaterhouseCoopers, in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants.

INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT

FOR THE SIX MONTHS ENDED 30 JUNE 2017

Note	2017 RMB'000	2016 RMB'000
Revenue	6	567,964	617,746
Cost of sales	(334,139)	(336,921)
Gross profit	233,825	280,825
Other income and other gains - net	9,898	3,514
Distribution costs	(182,696)	(194,596)
Administrative expenses	(28,641)	(56,681)
Operating profit	32,386	33,062
Finance income	2,411	3,812
Finance costs	(5,275)	(113)
Finance costs - net	(2,864)	3,699
Profit before income tax	7	29,522	36,761
Income tax expense	8	(9,470)	(17,513)
Profit for the period, all attributable to shareholders of the Company	20,052	19,248
Earnings per share attributable to shareholders of the Company	9
- Basic and diluted	RMB0.042	RMB0.040
Dividends	10	-	-

Unaudited Six months ended 30 June

The notes on pages 9 to 22 form an integral part of this interim condensed consolidated financial information.

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30 JUNE 2017

Unaudited Six months ended 30 June

2017 RMB'000	2016 RMB'000
Profit for the period	20,052	19,248
Other comprehensive income: Items that may be reclassified subsequently to profit or loss: - Currency translation differences	-	2,368
Other comprehensive income for the period	20,052	21,616
Total comprehensive income for the period, all attributable to shareholders of the Company	20,052	21,616

The notes on pages 9 to 22 form an integral part of this interim condensed consolidated financial information.