WH Group Limited — Annual Report 2015

Mar 29, 2016

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.

==> picture [63 x 50] intentionally omitted <==

WH Group Limited 萬洲國際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 288)

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2015 OF HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO., LTD

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. As at the date of this announcement, WH Group Limited (the “ Company ”) owns approximately 73.26% equity interest in Shuanghui Development. The board of directors of Shuanghui Development has approved its audited consolidated financial results for the twelve months ended December 31, 2015. Such audited consolidated financial results were prepared in accordance with the China Accounting Standards for Business Enterprises and are expected to be posted on the Shenzhen Stock Exchange’s website at or about the same time of this Announcement.

For the twelve months ended December 31, 2015, Shuanghui Development processed 12.4 million hogs, decreased by 17.5% from the comparable period of 2014. Packaged meat sales volume decreased by 8.3% to 1.6 million metric tons compared to the comparable period of 2014. Turnover decreased 2.2% from the comparable period of 2014 to RMB44,697 million. Net profit increased 4.8% from the comparable period of 2014 to RMB4,416 million.

The audited consolidated income statement for the twelve months ended December 31, 2015 and the audited consolidated balance sheet as at December 31, 2015 of Shuanghui Development are provided below:

– 1 –

SHUANGHUI DEVELOPMENT CONSOLIDATED INCOME STATEMENT

			For the twelve	months ended
			December 31,
			2015	2014
			RMB	RMB
			(audited)	(audited)
I.	Total	operating income	44,696,667,615.26	45,695,728,741.72
	Including: operating income		44,696,667,615.26	45,695,728,741.72
	Less:	Total operating costs	39,442,700,779.15	40,737,172,820.84
		Including:Operating costs	35,413,348,537.79	36,588,744,144.93
		Business tax and levies	190,269,455.28	189,481,172.70
		Selling expenses	2,298,892,060.08	2,474,180,466.02
		Administrative expenses	1,434,982,070.57	1,515,312,661.27
		Financial expenses	(3,786,173.46)	(39,468,549.47)
		Impairment losses of assets	108,994,828.89	8,922,925.39
	Add:	Investment income	156,027,217.54	149,960,592.53
		Including:Income from investments in
		associates and joint ventures	8,541,962.73	9,985,984.32
II.	Operating profit		5,409,994,053.65	5,108,516,513.41
	Add:	Non-operating income	288,686,682.43	278,980,384.63
		Including:Gain on disposal of non-current
		assets	1,373,735.87	625,968.76
	Less:	Non-operating expenses	23,527,520.59	14,785,623.93
		Including:Loss on disposal of non-current
		assets	19,537,233.85	13,186,412.66
III.	Total	profit	5,675,153,215.49	5,372,711,274.11
	Less:	Income tax expenses	1,258,689,859.23	1,157,253,493.68
IV.	Net profit		4,416,463,356.26	4,215,457,780.43
	Net profit attributable to owners of Shuanghui
	Development		4,255,541,752.84	4,039,863,758.01
	Profit	or loss attributable to non-controlling interests	160,921,603.42	175,594,022.42
V.	Total	comprehensive income	4,416,463,356.26	4,215,457,780.43
	Total	comprehensive income attributable to
	owners of Shuanghui Development		4,255,541,752.84	4,039,863,758.01
	Total	comprehensive income attributable to
	non-controlling interests		160,921,603.42	175,594,022.42
VI.	Earnings per share:
	(1)	Basic earnings per share	1.2892	1.2239
	(2)	Diluted earnings per share	1.2892	1.2239

– 2 –

SHUANGHUI DEVELOPMENT CONSOLIDATED BALANCE SHEET

	At	At
Current assets:Cash and bank balancesBills receivablesTrade receivablesPrepaymentsOther receivablesInventoriesNon-current assets due within one year	December 31,2015RMB(audited)2,426,692,246.8334,175,619.57131,744,098.3876,576,324.2253,131,097.033,384,796,676.512,272,659.63	January 1,2015RMB(audited)2,928,640,728.6823,844,573.34129,347,112.5180,137,715.2880,482,158.993,719,994,988.4368,190,557.64
Other current assetsTotal current assetsNon-current assets:Long-term equity investmentsProperty, plant and equipmentConstruction in progressMaterials for construction of property,plant and equipmentBiological assetsIntangible assetsLong-term prepaid expensesDeferred tax assetsOther non-current assetsTotal non-current assetsTotal assets	2,806,370,636.748,915,759,358.91161,593,594.7911,776,311,707.43715,348,798.086,809,492.0852,801,618.671,074,087,813.8372,587,527.7764,615,093.7244,552,160.8813,968,707,807.2522,884,467,166.16	1,500,153,520.33
		8,530,791,355.20
		162,039,017.9411,196,022,964.56729,484,014.3312,188,147.1030,890,194.491,083,344,856.3489,557,496.6539,132,478.31108,983,712.35
		13,451,642,882.07
		21,982,434,237.27

– 3 –

SHUANGHUI DEVELOPMENT CONSOLIDATED BALANCE SHEET (CONTINUED)

SHUANGHUI DEVELOPMENTCONSOLIDATED BALANCE SHEET (CONTINUE	SHUANGHUI DEVELOPMENTCONSOLIDATED BALANCE SHEET (CONTINUE	SHUANGHUI DEVELOPMENTCONSOLIDATED BALANCE SHEET (CONTINUE	D)	D)	D)
			AtDecember 31,2015RMB		AtJanuary 1,2015RMB
CurrShoil	ent liabilities:rt-term borrowingsl		(audited)600,000,000.0041876300		(audited)299,107,949.4912
BTraRecAccTaxInteDiv	s payabesde payableseipts in advancerued staff costses payablesrest payablesidend payables	2	,5,.,313,678,989.96636,136,487.67647,498,486.25309,194,891.25155,615.821,423,459.07		,739,70.003,365,408,352.51453,005,361.10648,440,574.59318,484,672.74494,431.78—
OthNoOthTotal	er payablesn-current liabilities due within one yearer current liabilitiescurrent liabilities		596,604,938.82320,004.6110,103,449.79,119,302,086.24		471,897,902.80301,544.3210,526,309.13
		5			5,569,406,818.46
Non-LonDefDefTotal	current liabilities:g-term borrowingserred incomeerred tax liabilitiesnon-current liabilities		5,758,303.9356,543,030.4716,295,833.837859716823		5,729,342.0833,159,350.7613,299,040.55
					5218773339
Total liabilitiesOwners’ equity:Share capitalCapital reserveSurplus reserveRetained profitsTotal equity attributable to owners ofShuanghui DevelopmentNon-controlling interestsTotal owners’ equityTotal liabilities and owners’ equity		,,.5,197,899,254.473,300,867,672.001,730,292,819.631,831,906,631.949,929,271,567.2316,792,338,690.80894,229,220.8917,686,567,911.6922,884,467,166.16		,,.
				5,621,594,551.85
				2,200,578,448.002,672,109,867.171,410,033,360.969,220,424,481.53
				15,503,146,157.66857,693,527.7616,360,839,685.42
				21,982,434,237.27

– 4 –

GENERAL

Shareholders of the Company should note that the above audited financial information pertains only to Shuanghui Development and not to the Company itself.

Details of the audited consolidated financial results of Shuanghui Development for the twelve months ended December 31, 2015 are available on the website of the Shenzhen Stock Exchange at www.szse.cn.

By Order of the board of directors of WH Group Limited Chau Ho Company Secretary

Hong Kong, March 29, 2016

As at the date of this announcement, the executive directors of the Company are Mr. WAN Long, Mr. GUO Lijun, Mr. ZHANG Taixi, Mr. SULLIVAN Kenneth Marc and Mr. YOU Mu; the non-executive director of the Company is Mr. JIAO Shuge; and the independent nonexecutive directors of the Company are Mr. HUANG Ming, Mr. LEE Conway Kong Wai and Mr. LAU, Jin Tin Don.

– 5 –