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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Qihang Equip | LSE:QIH | London | Ordinary Share | GB00B030LW50 | ORD 2.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
FOR THE PERIOD ENDED 30 JUNE 2013
Hot Features
Premium
Share Share Other Retained Total
capital premium reserves earnings equity
RMB'000 RMB'000 RMB'000 RMB'000 RMB'000
Balance at 1 January 2013 15,196 86,711 (13,635) 3,034 91,306
========== ========== =========== =========== =========
Comprehensive income
Loss for the period - - - (10,306) (10,306)
Total comprehensive income
for the period - - - (10,306) (10,306)
---------- ---------- ----------- ----------- ---------
Transactions with owners - - - - -
---------- ---------- ----------- ----------- ---------
Total transactions with owners - - - - -
---------- ---------- ----------- ----------- ---------
Balance at 30 June 2013 15,196 86,711 (13,635) (7,272) 81,000
========== ========== =========== =========== =========
Balance at 1 January 2012 15,196 86,711 (15,344) 18,764 105,327
========== ========== =========== =========== =========
Comprehensive income
Loss for the period - - - (4,090) (4,090)
---------- ---------- ----------- ----------- ---------
Total comprehensive income
for the period - - - (4,090) (4,090)
---------- ---------- ----------- ----------- ---------
Transactions with owners
Disposal of available-for-sale
financial assets - - 1,392 (1,392) -
---------- ---------- ----------- ----------- ---------
Total transactions with owners - - 1,392 (1,392) -
---------- ---------- ----------- ----------- ---------
Balance at 30 June 2012 15,196 86,711 (13,952) 13,282 101,237
========== ========== =========== =========== =========
Balance at 1 January 2012 15,196 86,711 (15,344) 18,764 105,327
======= ======= ========= ========= =========
Comprehensive income
Loss for the period - - - (14,021) (14,021)
Total comprehensive income
for the period - - - (14,021) (14,021)
------- ------- --------- --------- ---------
Transactions with owners
Transfer statutory reserves - - 88 (88) -
Transfer exchange difference - - 380 (380) -
Settlement of available-for-sale-financial
assets - - 1,241 (1,241) -
------- ------- --------- --------- ---------
Total transactions with owners - - 1,709 (1,709) -
------- ------- --------- --------- ---------
Balance at 31 December 2012 15,196 86,711 (13,635) 3,034 91,306
======= ======= ========= ========= =========
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 JUNE 2013
Six months Six months Year ended
ended 30 ended 31 December
June 2013 30 June 2012
2012
Unaudited Unaudited Audited
RMB'000 RMB'000 RMB'000
(Loss)/profit before interest and
tax (3,249) 5,072 (178)
Depreciation of property, plant and
equipment 5,754 6,738 13,460
Amortisation of intangible assets 687 1,220 1,914
(Gain)/loss on disposal of property,
plant and equipment (1) 35 (486)
Bad debts provisions 295 - 1,379
Impairment of inventories - - 2,946
Other (gains)/losses - (3,607) (1,289)
Gain on disposal of investment in
subsidiary company - - (5,701)
Operating cash flow before changes
in working capital 3,486 9,458 12,045
Increase in inventories (248) (500) (8,325)
Decrease/(increase) in trade and other
receivables 22,587 (7,815) (19,549)
(Decrease)/increase in trade and other
payables (8,548) (15,491) 3,727
Net cash generated from/(used in)
operations 17,277 (14,348) (12,102)
Finance costs paid (7,164) (9,701) (14,897)
Income tax paid (39) (1,249) (1,315)
----------- ----------- -------------
Net cash generated from/(used in)
operating activities 10,074 (25,298) (28,314)
=========== =========== =============
Investing activities
Purchase of property, plant and equipment (7,325) (829) (24,463)
Refund on cancellation of plant ordered - 10,000 19,500
Proceeds from sale of plant and equipment 94 - 358
Purchase of intangible assets - - (85)
Proceeds from disposal of investment - 94 94
Net cash inflow from acquisition of
subsidiary - 8,396 8,396
Net cash inflow from disposal of subsidiary - - 16,573
Interest received 146 531 1,091
Net cash (used in)/from investing
activities (7,085) 18,192 21,464
=========== =========== =============
Financing activities
Proceeds from bank borrowings 79,000 163,600 235,100
Repayment of bank borrowings (80,500) (142,200) (249,950)
Proceeds from other borrowings - - 1,000
Net cash (used in)/from financing
activities (1,500) 21,400 (13,850)
=========== =========== =============
Net increase/(decrease) in cash and
cash equivalents 1,489 14,294 (20,700)
Cash and cash equivalents at beginning
of period 26,460 47,160 47,160
Cash and cash equivalents at end of
period 27,949 61,454 26,460
=========== =========== =============
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2013
1 General information
Qihang Equipment Company Limited ("Qihang") was incorporated and domiciled in Jersey. The address of the registered office is 11 Bath Street, St. Helier, Jersey JE2 4ST.
Win Yu International Investments Company Limited ("Win Yu") is a company incorporated and domiciled in Hong Kong. The nature of the Win Yu group's operations and its principal activities are manufacture of universal lathes, CNC machinery tool and associated parts.
These condensed financial statements present information about the group and are set out in Renminbi ("RMB") of the P. R. China, which is the functional currency of the operating subsidiaries.
These condensed financial statements are presented in the nearest thousands.
2 Basis of preparation
The condensed financial statements have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting.
The interim report was approved by the Board of Directors on 20 September 2013. The report is unaudited and does not constitute the company's statutory accounts for the six months ended 30 June 2013.
3 Significant accounting policies
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