Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Xiezhong International Holdings Limited

協眾國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3663) ANNOUNCEMENT OF THE UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTS

The Group recorded revenue of RMB441.4 million for the six months ended 30 June 2017, representing an increase of 19.4% as compared to the revenue of RMB369.8 million for the six months ended 30 June 2016.

Loss attributable to equity shareholders of the Company was RMB33.8 million for the six months ended 30 June 2017 as compared to the profit of RMB15.4 million for the six months ended 30 June 2016.

INTERIM RESULTS

The board (the "Board") of directors (the "Directors") of Xiezhong International Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017. The audit committee of the Company has reviewed the interim financial results of the Group for the six months ended 30 June 2017. KPMG, the independent auditor of the Company, conducted an independent review on the interim financial report of the Company for the six months ended 30 June 2017 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, whose unmodified review report is included in the interim report to be sent to shareholders of the Company.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the six months ended 30 June 2017 - unaudited

Six months ended 30 June 2017 2016

Revenue

Note

4

RMB'000

441,407

RMB'000

369,824

Cost of sales

(383,996)

(300,301)

Gross profit

57,411

69,523

Other income

5

1,830

4,957

Distribution costs

(22,791)

(16,337)

Administrative expenses

(61,743)

(29,512)

(Loss)/profit from operations

(25,293)

28,631

Finance costs

6(a)

(15,215)

(7,505)

(Loss)/profit before taxation

(40,508)

21,126

Income tax

7

4,682

(5,409)

(Loss)/profit for the period

(35,826)

15,717

Attributable to:

Equity shareholders of the Company

(33,827)

15,365

Non-controlling interests

(1,999)

352

(Loss)/profit for the period

(35,826)

15,717

(Loss)/earnings per share (RMB)

Basic and diluted

8

(0.042)

0.019

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2017 - unaudited

Six months ended 30 June 2017 2016

RMB'000 RMB'000

(Loss)/profit for the period (35,826) 15,717 Other comprehensive income for the period

of entities outside Mainland China, net of nil tax

8,953

(5,011)

Total comprehensive income for the period

(26,873)

10,706

Attributable to:

Equity shareholders of the Company

(24,874)

10,354

Non-controlling interests

(1,999)

352

Total comprehensive income for the period

(26,873)

10,706

Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of financial statements

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2017 - unaudited

Note

At 30 June

2017

RMB'000

At 31 December

2016

RMB'000

Non-current assets

Property, plant and equipment

9

653,923

631,244

Lease prepayments

49,602

50,224

Intangible assets

10

70,722

61,773

Goodwill

46,832

46,832

Long-term receivables

12

-

3,972

Non-current prepayments

33,246

42,279

Deferred tax assets

14,445

9,234

868,770

845,558

Current assets

Inventories

11

220,855

219,374

Trade and other receivables

12

721,850

623,636

Amounts due from related parties

117,617

217,771

Deposits with banks

13

24,615

3,000

Cash

14

90,919

75,735

1,175,856

1,139,516

Current liabilities

Trade and other payables

15

559,538

501,379

Amounts due to related parties

29,347

25,480

Interest-bearing borrowings

16

562,417

387,776

Income tax payables

4,739

9,119

Provisions

5,076

4,782

1,161,117

928,536

Net current assets

14,739

210,980

Total assets less current liabilities

883,509

1,056,538

Xiezhong International Holdings Ltd. published this content on 30 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 14:07:05 UTC.

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