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WH Group Limited
萬 洲 國 際 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 288)
UNAUDITED FINANCIAL RESULTS FOR
THE THREE MONTHS ENDED MARCH 31, 2021 OF
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO., LTD.
On April 27, 2021 after trading hours (Hong Kong time), Shuanghui Development released its quarterly report for the three months ended March 31, 2021.
Henan Shuanghui Investment & Development Co., Ltd. (河南雙匯投資發展股份有限公
司) ("Shuanghui Development") is a company incorporated in the People's Republic of China whose shares are listed on the Shenzhen Stock Exchange (the "Shenzhen Stock Exchange"). As at the date of this announcement, WH Group Limited (the "Company") indirectly owns approximately 70.33% equity interest in Shuanghui Development. On April 27, 2021, Shuanghui Development filed its quarterly report with the Shenzhen Stock Exchange for the three months ended March 31, 2021 (the "Shuanghui Development Quarterly Report"). It is important to note that the unaudited consolidated financial results contained in Shuanghui Development Quarterly Report have been prepared in accordance with the China Accounting Standards for Business Enterprises. The Company prepares its consolidated financial results in accordance with the International Financial Reporting Standards (the "IFRS"). Accordingly, Shuanghui Development's results reported therein differ from Shuanghui Development's results contained in the Company's consolidated financial statements, which include certain adjustments in order to conform to the IFRS.
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SUMMARY OF RESULTS OF SHUANGHUI DEVELOPMENT FOR THE THREE MONTHS ENDED MARCH 31, 2021
For the three months ended March 31, 2021, Shuanghui Development's external sales volume of meat products was 0.75 million metric tons, representing an increase of 9.66% from the comparable period of 2020. Turnover increased by 4.13% from the comparable period of 2020 to RMB18,318 million. Net profit decreased by 4.07% from the comparable period of 2020 to RMB1,452 million.
The unaudited consolidated statement of profit or loss and other comprehensive income for the three months ended March 31, 2021 and the unaudited consolidated statement of financial position as at March 31, 2021 contained in Shuanghui Development Quarterly Report are provided below:
SHUANGHUI DEVELOPMENT
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the three months ended March 31, 2021
For the three months ended March 31, | |||
2021 | 2020 | ||
RMB | RMB | ||
(unaudited) | (unaudited) | ||
I. | Total operating income | 18,317,771,682.02 | 17,591,649,888.68 |
Including: Operating income | 18,284,212,024.49 | 17,581,630,130.40 | |
Interest income | 33,559,657.53 | 10,019,758.28 | |
II. | Total operating costs | 16,422,906,440.37 | 15,598,970,833.31 |
Including: Operating costs | 15,311,296,048.92 | 14,599,212,048.68 | |
Interest expenses | 5,314,502.72 | 6,303,961.04 | |
Handling and commission charges | 140,065.67 | 112,335.43 | |
Tax and levies | 85,872,459.13 | 83,921,294.12 | |
Selling expenses | 684,821,273.96 | 596,213,301.14 | |
Administrative expenses | 304,681,044.50 | 277,641,602.35 | |
Research and development expenses | 24,385,921.46 | 18,400,131.06 | |
Financial expenses | 6,395,124.01 | 17,166,159.49 | |
Including: Interest expenses | 23,531,214.57 | 27,512,035.87 | |
Interest income | 17,728,454.26 | 13,241,566.81 | |
Add: Other income | 122,263,583.54 | 53,424,708.05 | |
Investment income | 39,243,445.70 | 27,304,238.23 | |
Including: Income from investments in associates | 5,174,322.42 | ||
and joint ventures | 2,917,616.11 | ||
Gain on fair value change | 29,251,479.92 | 11,825,521.74 | |
Reversal of/(loss) on credit impairment | 152,734.48 | -1,720,111.01 | |
Impairment losses of assets | -215,866,613.65 | -189,702,788.43 | |
Gain on disposal of assets | 2,680,141.69 | 181,233.09 |
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For the three months ended March 31, | |||
2021 | 2020 | ||
RMB | RMB | ||
(unaudited) | (unaudited) | ||
III. | Operating profit | 1,872,590,013.33 | 1,893,991,857.04 |
Add: Non-operating income | 8,429,982.27 | 13,659,204.81 | |
Less: Non-operating expenses | 3,832,604.85 | 19,952,497.08 | |
IV. | Total profit | 1,877,187,390.75 | 1,887,698,564.77 |
Less: Income tax expenses | 425,313,074.19 | 374,271,640.68 | |
V. | Net profit | 1,451,874,316.56 | 1,513,426,924.09 |
Including: Net profit from continuing operations | 1,451,874,316.56 | 1,513,426,924.09 | |
Net profit from discontinued operations | - | - | |
Net profit attributable to owners of | 1,441,074,393.04 | ||
Shuanghui Development | 1,464,652,220.36 | ||
Profit or loss attributable to | 10,799,923.52 | ||
non-controlling interests | 48,774,703.73 | ||
VI. | Other comprehensive income, net of tax | - | - |
Other comprehensive income, net of tax attributable | - | - | |
to owners of Shuanghui Development | |||
Other comprehensive income, net of tax attributable | - | - | |
to non-controlling interests | |||
VII. | Total comprehensive income | 1,451,874,316.56 | 1,513,426,924.09 |
Total comprehensive income attributable to owners of | 1,441,074,393.04 | ||
Shuanghui Development | 1,464,652,220.36 | ||
Total comprehensive income attributable to | 10,799,923.52 | ||
non-controlling interests | 48,774,703.73 | ||
VIII. | Earnings per share | 0.4159 | |
(1) Basic earnings per share | 0.4413 | ||
(2) Diluted earnings per share | 0.4159 | 0.4413 |
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SHUANGHUI DEVELOPMENT
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at March 31, 2021
As at | As at | |||
March 31, 2021 | January 1, 2021 | |||
RMB | RMB | |||
(unaudited) | (audited) | |||
Current assets: | ||||
Cash and bank balances | 9,979,126,646.90 | 8,485,885,001.20 | ||
Loan receivables from financial institutions | 800,000,000.00 | 300,000,000.00 | ||
Exchange financial assets | 6,423,242,670.73 | 5,735,620,003.05 | ||
Bills receivables | 65,150,000.00 | 44,600,000.00 | ||
Trade receivables | 228,663,358.36 | 235,909,236.00 | ||
Prepayments | 160,450,444.78 | 245,458,023.72 | ||
Other receivables | 42,356,270.49 | 55,305,654.74 | ||
Inventories | 5,794,105,746.72 | 6,377,695,426.57 | ||
Loans receivables | 68,683,200.00 | 80,097,600.00 | ||
Other current assets | 644,153,928.46 | 513,368,484.76 | ||
Total current assets | 24,205,932,266.44 | 22,073,939,430.04 | ||
Non-current assets: | ||||
Long-term equity investments | 267,101,826.01 | 261,797,620.67 | ||
Other non-current financial assets | 74,330,177.49 | 67,701,365.25 | ||
Fixed assets | 10,142,428,027.35 | 10,303,818,090.88 | ||
Construction in progress | 493,492,464.21 | 323,388,219.78 | ||
Biological assets | 110,732,651.70 | 148,164,853.70 | ||
Right-of-use assets | 344,753,041.85 | - | ||
Intangible assets | 1,035,704,201.36 | 1,026,638,098.12 | ||
Development cost | 7,465,390.29 | 6,353,699.86 | ||
Long-term prepaid expenses | 52,315,315.09 | 184,532,694.40 | ||
Deferred tax assets | 168,072,688.06 | 187,486,694.75 | ||
Other non-current assets | 254,822,195.88 | 120,060,994.51 | ||
Total non-current assets | 12,951,217,979.29 | 12,629,942,331.92 | ||
Total assets | 37,157,150,245.73 | 34,703,881,761.96 | ||
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As at | As at | |||
March 31, 2021 | January 1, 2021 | |||
RMB | RMB | |||
(unaudited) | (audited) | |||
Current liabilities: | ||||
Short-term borrowings | 3,569,086,455.54 | 2,382,649,141.34 | ||
Bills payables | - | 4,000,000.00 | ||
Trade payables | 1,671,149,609.58 | 1,708,284,564.46 | ||
Contract liabilities | 2,126,863,313.52 | 2,448,851,578.28 | ||
Other loans | 997,922,992.47 | 819,330,088.75 | ||
Deposit receipts | 46,133,168.70 | 49,050,315.18 | ||
Accrued staff costs | 680,121,449.59 | 1,113,665,467.11 | ||
Taxation payables | 546,123,417.73 | 411,792,409.48 | ||
Other payables | 986,838,578.99 | 885,599,607.38 | ||
Including: Dividend payables | 53,374,272.39 | 89,896,338.39 | ||
Non-current liabilities due within one year | 13,312,764.15 | 1,170,765.56 | ||
Other current liabilities | 167,470,501.92 | 170,555,854.91 | ||
Total current liabilities | 10,805,022,252.19 | 9,994,949,792.45 | ||
Non-current liabilities: | ||||
Long-term borrowings | 14,101,800.07 | 15,098,464.11 | ||
Lease liabilities | 195,770,981.42 | - | ||
Long-term payables | 65,966,700.83 | 66,216,080.56 | ||
Provision | 2,500,000.00 | 2,500,000.00 | ||
Deferred income | 289,204,420.82 | 289,140,618.06 | ||
Deferred tax liabilities | 216,590,205.03 | 203,257,840.00 | ||
Total non-current liabilities | 784,134,108.17 | 576,213,002.73 | ||
Total liabilities | 11,589,156,360.36 | 10,571,162,795.18 | ||
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As at | As at | |||
March 31, 2021 | January 1, 2021 | |||
RMB | RMB | |||
(unaudited) | (audited) | |||
Owners' equity: | ||||
Share capital | 3,464,661,213.00 | 3,464,661,213.00 | ||
Capital reserve | 8,072,401,918.99 | 8,072,272,036.07 | ||
Surplus reserve | 1,831,906,631.94 | 1,831,906,631.94 | ||
General reserve | 109,386,472.28 | 109,386,472.28 | ||
Retained profits | 11,725,891,762.35 | 10,284,817,369.31 | ||
Total equity attributable to owners of | ||||
Shuanghui Development | 25,204,247,998.56 | 23,763,043,722.60 | ||
Non-controlling interests | 363,745,886.81 | 369,675,244.18 | ||
Total owners' equity | 25,567,993,885.37 | 24,132,718,966.78 | ||
Total liabilities and owners' equity | 37,157,150,245.73 | 34,703,881,761.96 | ||
If you wish to review the Shuanghui Development Quarterly Report in full, please visit www.szse.cn.
By order of the board of directors of
WH Group Limited
Wan Long
Chairman and Chief Executive Officer
Hong Kong, April 27, 2021
As at the date of this announcement, the executive directors of the Company are Mr. WAN Long, Mr. WAN Hongjian, Mr. GUO Lijun, Mr. Dennis Pat Rick ORGAN and Mr. MA Xiangjie; the non-executive director of the Company is Mr. JIAO Shuge; and the independent non-executive directors of the Company are Mr. HUANG Ming, Mr. LEE Conway Kong Wai and Mr. LAU, Jin Tin Don.
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WH Group Ltd. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 12:00:03 UTC.