CITIC Limited — Interim / Quarterly Report 2014

Aug 21, 2014

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.

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CITIC Pacific Limited 中信泰富有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00267)

DAYE SPECIAL STEEL CO., LTD. A SUBSIDIARY OF CITIC PACIFIC LIMITED ANNOUNCEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2014

This announcement is made by CITIC Pacific Limited (“CITIC Pacific”) pursuant to the requirement of Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited to provide shareholders of CITIC Pacific and the public with the unaudited financial results of Daye Special Steel Co., Ltd. (“Daye”) for the six months ended 30 June 2014.

Daye, a subsidiary of CITIC Pacific, is a company incorporated in the People’s Republic of China (“PRC”) whose shares are listed on the Shenzhen Stock Exchange. CITIC Pacific has a 58.13% attributable interest in Daye. On 20 August 2014, the board of directors of Daye has approved the unaudited financial statements for the six months ended 30 June 2014. Daye’s unaudited financial results are posted on the Shenzhen Stock Exchange’s website on 21 August 2014. The unaudited financial statements have been prepared in conformity with “Accounting Standards for Business Enterprises” of the PRC. The Profit and Loss Account (unaudited) for the six months ended 30 June 2014 and the Balance Sheet (unaudited) as at 30 June 2014 of Daye are provided below : -

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DAYE SPECIAL STEEL CO., LTD.

PROFIT AND LOSS ACCOUNT – UNAUDITED FOR THE SIX MONTHS ENDED 30 JUNE 2014

		2014	2013
		RMB	RMB
1. Total Operating Income		3,807,239,359	3,757,185,612
_Including:_Operating income		3,807,239,359	3,757,185,612
	Interest income	-	-
	Insurance premiums earned	-	-
	Fee and commission income	-	-
2. Total Operating Costs		3,654,508,239	3,631,272,107
_Including:_Operating costs		3,417,806,971	3,413,288,665
	Interest expenses	-	-
	Fee and commission expense	-	-
	Surrenders payment	-	-
	Net expenditure for compensation payment	-	-
	Net provision for insurance contract	-	-
	Expenditure for insurance policy dividend	-	-
	Reinsurance cost	-	-
	Operating taxes and surcharges	9,623,328	10,296,253
	Selling expenses	41,333,721	44,593,136
	General and administrative expenses	163,667,481	146,303,491
	Financial expenses	1,439,152	17,587,081
	Impairment losses on assets	20,637,586	-796,519
Add:	Gain on change in fair value (“–” indicate loss)	-	-
	Investment income (“–” indicate loss)	-	-
	(including: investment income on associated
	companies and joint ventures)	-	-
	Exchange gains (“–” indicate loss)	-	-
3. Operating Profit (“–” indicate loss)		152,731,120	125,913,505
Add:	Non-operating income	12,215,172	4,568,428
Less:	Non-operating expenses	11,571,490	166
	(including: loss on disposal of non-current assets)	11,546,690	166
4. Profit before Tax (“–” indicate total loss)		153,374,802	130,481,767
Less:	Income tax	21,738,268	19,572,265

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PROFIT AND LOSS ACCOUNT – UNAUDITED continued FOR THE SIX MONTHS ENDED 30 JUNE 2014

		2014	2013
		RMB	RMB
5.	Net Profit (“–” indicate net loss)	131,636,534	110,909,502
	_Including:_Net profit of the acquiree entity in a business
	combination involving enterprises under common
	control before the combination date	-	-
	Net profit attributable to the owners of the Company	131,636,534	110,909,502
	Non-controlling interests	-	-
6.	Earnings per share
	(1) Earnings per share - basic	0.293	0.247
	(2) Earnings per share - diluted	0.293	0.247
7.	Other comprehensive income	-	-
8.	Total comprehensive income	131,636,534	110,909,502
	Total comprehensive income attributable to the owners of the
	Company	131,636,534	110,909,502
	Total comprehensive income attributable to non-controlling
	interests	-	-

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BALANCE SHEET – UNAUDITED

AS AT 30 JUNE 2014

ASSETS Current Assets Non-current Assets Total Assets LIABILITIES AND OWNERS’ EQUITY (OR SHAREHOLDERS’ EQUITY) Current Liabilities Non-current Liabilities Total Liabilities Owners’ Equity (or Shareholders’ Equity) Paid-up Capital (or Share Capital) Capital Reserve Less: Treasury Shares Special Reserve Surplus Reserve General risk provisions Retained Profit Foreign currency translation differences Total owners' equity attributable to the Company Non-controlling interests Total Owners’ Equity (or Shareholders’ Equity) Total Liabilities and Owners’ Equity (or Shareholders’ Equity)	Unaudited 30 June 2014 RMB 2,029,088,913 2,510,638,284 4,539,727,197 1,202,100,177 156,545,900 1,358,646,077 ----------------- 449,408,480 485,653,274 - - 226,114,429 - 2,019,904,937 - 3,181,081,120 - 3,181,081,120 4,539,727,197	Audited 31 December 2013 RMB 1,929,677,696 2,572,057,042 4,501,734,738 1,207,750,804 154,657,652 1,362,408,456 ----------------- 449,408,480 485,653,274 - - 226,114,429 - 1,978,150,099 - 3,139,326,282 - 3,139,326,282 4,501,734,738

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GENERAL

Shareholders should note that the above unaudited financial results pertain only to Daye and not to CITIC Pacific itself.

Daye’s Half-Year Report 2014 and Summary Half-Year Report 2014 can be found on the Shenzhen Stock Exchange’s website (http://www.szse.cn).

By order of the Board CITIC Pacific Limited Ricky Choy Wing Kay Company Secretary

Hong Kong, 21 August 2014

As at the date of this announcement, the executive directors of CITIC Pacific are Messrs Chang Zhenming (Chairman), Zhang Jijing, Vernon Francis Moore, Liu Jifu and Zeng Chen; the non-executive directors of CITIC Pacific are Messrs Ju Weimin, Yin Ke and Carl Yung Ming Jie; and the independent non-executive directors of CITIC Pacific are Messrs Alexander Reid Hamilton, Gregory Lynn Curl, Francis Siu Wai Keung and Dr. Xu Jinwu.

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