YCP Holdings (Global) Limited
Combined Statement of Profit or Loss and Other Comprehensive Income
For the financial years ended 31 December 2019 and 2020
|
|
Note |
2020 |
2019 |
|
|
|
US$ |
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUE |
5 |
58,912,373 |
50,602,013 |
|
|
|
|
|
|
Cost of sales |
|
(16,005,688) |
(13,842,241) |
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
42,906,685 |
36,759,772 |
|
|
|
|
|
|
Other income and gains |
5 |
3,121,617 |
1,766,705 |
|
Selling and distribution expenses |
|
(8,648,403) |
(7,830,238) |
|
Administrative expenses |
|
(28,848,004) |
(27,566,503) |
|
Other operating expenses |
|
(313,568) |
(1,626,392) |
|
|
|
|
|
|
|
|
|
|
|
OPERATING PROFIT |
|
8,218,327 |
1,503,344 |
|
|
|
|
|
|
Finance income |
7 |
2,443 |
5,087 |
|
Finance costs |
8 |
(732,305) |
(1,124,916) |
|
Share of profits and losses of associates |
|
(219,476) |
77,470 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
6 |
7,268,989 |
460,985 |
|
|
|
|
|
|
Income tax expense |
10 |
(968,981) |
(1,682,735) |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FOR THE YEAR |
|
6,300,008 |
(1,221,750) |
|
|
|
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
Owners of the parent |
|
6,339,589 |
(1,186,967) |
|
Non-controlling interests |
|
(39,581) |
(34,783) |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,300,008 |
(1,221,750) |
|
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) per share attributable to ordinary equity holders of parent |
|
|
|
|
Basic earnings/(loss) per share (cents) |
11 |
38.89 |
(7.24) |
|
Diluted earnings/(loss) per share (cents) |
11 |
38.89 |
(7.24) |
|
|
|
|
|
|
|
|
|
|
YCP Holdings (Global) Limited
Combined Statement of Profit or Loss and Other Comprehensive Income (continued)
For the financial years ended 31 December 2019 and 2020
|
|
Note |
2020 |
2019 |
|
|
|
US$ |
US$ |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FOR THE YEAR |
|
6,300,008 |
(1,221,750) |
|
|
|
|
|
|
OTHER COMPREHENSIVE INCOME |
|
|
|
|
Other comprehensive income that may be reclassified to profit or loss in subsequent periods: |
|
|
|
|
Exchange differences on translation of financial statements |
|
(72,117) |
161,403 |
|
Share of other comprehensive income of associates |
|
22,197 |
6,704 |
|
|
|
|
|
|
|
|
|
|
|
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods |
|
(49,920) |
168,107 |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income that will not be reclassified to profit or loss in subsequent periods: |
|
|
|
|
Remeasurement loss on defined benefit liabilities, net of tax |
30 |
(5,062) |
– |
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR, NET OF TAX |
|
(54,982) |
168,107 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR |
|
6,245,026 |
(1,053,643) |
|
|
|
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
Owners of the parent |
|
6,279,516 |
(1,018,545) |
|
Non-controlling interests |
|
(34,490) |
(35,098) |
|
|
|
|
|
|
|
|
|
|
|
|
|
6,245,026 |
(1,053,643) |
|
|
|
|
|
YCP Holdings (Global) Limited
Combined Statement of Financial Position
As at 31 December 2019 and 2020
|
|
Note |
2020 |
2019 |
1 January 2019 |
|
|
|
US$ |
US$ |
US$ |
|
|
|
|
|
|
|
NON-CURRENT ASSETS |
|
|
|
|
|
Property, plant and equipment |
12 |
1,409,912 |
636,408 |
967,450 |
|
Right-of-use assets |
12 |
4,764,215 |
4,753,622 |
5,148,403 |
|
Goodwill |
13 |
11,758,830 |
10,305,073 |
10,318,699 |
|
Other intangible assets |
14 |
1,545,886 |
1,999,225 |
2,184,318 |
|
Investments in associates |
16 |
283,117 |
527,200 |
534,721 |
|
Investment in a joint venture |
15 |
– |
– |
– |
|
Equity investment at fair value through profit or loss |
17 |
9,954,946 |
8,599,580 |
7,384,366 |
|
Derivative financial instruments |
25 |
– |
– |
1,184,474 |
|
Prepayments, deposits and other receivables |
20 |
1,170,597 |
870,495 |
988,661 |
|
Deferred tax assets |
29 |
1,237,353 |
559,497 |
1,104,827 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current assets |
|
32,124,856 |
28,251,100 |
29,815,919 |
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Inventories |
18 |
1,960,856 |
1,080,836 |
1,313,467 |
|
Trade receivables |
19 |
6,964,543 |
6,692,593 |
5,272,440 |
|
Contract assets |
19 |
698,571 |
– |
– |
|
Prepayments, deposits and other receivables |
20 |
2,837,030 |
2,132,904 |
1,778,020 |
|
Derivative financial instruments |
25 |
– |
1,117,217 |
925,701 |
|
Cash and bank balances |
21 |
9,906,705 |
8,494,881 |
7,811,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
22,367,705 |
19,518,431 |
17,101,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade payables |
22 |
2,012,490 |
1,654,769 |
1,491,761 |
|
Other payables and accruals |
23 |
9,213,771 |
9,042,807 |
7,219,977 |
|
Other liabilities |
24 |
5,198,955 |
6,444,150 |
3,110,550 |
|
Interest-bearing bank and other borrowings |
26 |
4,072,753 |
4,785,717 |
5,436,557 |
|
Lease liabilities |
27 |
3,066,861 |
2,755,423 |
2,908,561 |
|
Due to a director |
28 |
– |
301,232 |
– |
|
Tax payable |
|
1,500,060 |
680,907 |
1,784,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
25,064,890 |
25,665,005 |
21,952,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
NET CURRENT LIABILITIES |
|
(2,697,185) |
(6,146,574) |
(4,850,821) |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
29,427,671 |
22,104,526 |
24,965,098 |
|
|
|
|
|
|
YCP Holdings (Global) Limited
Combined Statement of Financial Position (continued)
As at 31 December 2019 and 2020
|
|
Note |
2020 |
2019 |
1 January 2019 |
|
|
|
US$ |
US$ |
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT LIABILITIES |
|
|
|
|
|
Other payables and accruals |
23 |
664,467 |
390,273 |
537,108 |
|
Other liabilities |
24 |
921,321 |
– |
2,913,300 |
|
Interest-bearing bank and other borrowings |
26 |
10,630,251 |
10,691,074 |
9,333,582 |
|
Lease liabilities |
27 |
1,797,991 |
2,075,252 |
2,336,561 |
|
Deferred tax liabilities |
29 |
251,349 |
393,636 |
346,883 |
|
Defined benefit liabilities |
30 |
100,992 |
– |
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current liabilities |
|
14,366,371 |
13,550,235 |
15,467,434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS |
|
15,061,300 |
8,554,291 |
9,497,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
|
Equity attributable to owners of the parent |
|
|
|
|
|
Reserves |
31 |
14,987,118 |
8,445,619 |
9,478,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,987,118 |
8,445,619 |
9,478,685 |
|
Non-controlling interests |
|
74,182 |
108,672 |
18,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL EQUITY |
|
15,061,300 |
8,554,291 |
9,497,664 |
|
|
|
|
|
|