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DISCONTINUED OPERATIONS (Tables)
12 Months Ended
Dec. 31, 2018
ContinuingAndDiscontinuedOperationsLineItems [Line Items]  
Schedule of Calculations of Basic and Diluted Earnings Per Share

The calculations of basic and diluted loss per share from the discontinued operations are based on:


 

 

2016

 

 

For the
period from
January 1,
2017 to
December 29,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

 

 

Loss attributable to owners of the Company from the discontinued operations

 

 

(18,591

)

 

 

(23,817

)

 

 

 

 

 

 

 

 

 

Weighted average number of ordinary shares in issue during the period used in the loss per share calculations:

 

 

 

 

 

 

 

 

Basic (Note 13)

 

 

24,910,916

 

 

 

24,910,916

 

Diluted (Note 13)

 

 

24,910,916

 

 

 

24,910,916

 

Discontinued operation of Wuhu Feishang [Member]  
ContinuingAndDiscontinuedOperationsLineItems [Line Items]  
Schedule of discontinued operations

The results of Wuhu Feishang are presented below:


 

 

2016

 

 

For the
period from
January 1,
2017 to
March 3,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

 

 

Selling expenses

 

 

(23

)

 

 

 

Administrative expenses

 

 

(6,588

)

 

 

(991

)

Losses arising from temporary suspension of production

 

 

(4,073

)

 

 

(641

)

Reversal of write-down of inventories to net realizable value

 

 

1,744

 

 

 

 

Other operating income

 

 

393

 

 

 

61

 

 

 

 

 

 

 

 

 

 

OPERATING LOSS

 

 

(8,547

)

 

 

(1,571

)

 

 

 

 

 

 

 

 

 

Finance costs

 

 

(258

)

 

 

(30

)

Interest income

 

 

119

 

 

 

9

 

Non-operating (expenses)/income, net

 

 

(2,267

)

 

 

230

 

LOSS BEFORE INCOME TAX

 

 

(10,953

)

 

 

(1,362

)

LOSS FOR THE PERIOD FROM WUHU FEISHANG

 

 

(10,953

)

 

 

(1,362

)

 

 

 

 

 

 

 

 

 

Gain on disposal of Wuhu Feishang

 

 

 

 

 

12,340

 

(LOSS)/PROFIT FOR THE PERIOD FROM WUHU FEISHANG

 

 

(10,953

)

 

 

10,978

 


The details of the net assets of Wuhu Feishang as at March 3, 2017 are as follows:


 

 

 

 

 

March 3,

2017

 

 

 

 

 

 

CNY

 

Net assets disposed of:

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment

 

 

 

 

 

 

7,613

 

Rehabilitation fund

 

 

 

 

 

 

3,983

 

Inventories

 

 

 

 

 

 

5,644

 

Prepayments

 

 

 

 

 

 

73

 

Other receivables

 

 

 

 

 

 

47

 

Cash and cash equivalents

 

 

 

 

 

 

18

 

Trade payables

 

 

 

 

 

 

(30

)

Other payables and accrued liabilities

 

 

 

 

 

 

(13,303

)

Taxes payable

 

 

 

 

 

 

(5,316

)

Due to related companies

 

 

 

 

 

 

(5,117

)

Asset retirement obligations

 

 

 

 

 

 

(4,952

)

Net assets disposed of

 

 

 

 

 

 

(11,340

)

 

 

 

 

 

 

 

 

 

Gain on disposal of Wuhu Feishang

 

 

 

 

 

 

12,340

 

Consideration

 

 

 

 

 

 

1,000

 

 

 

 

 

 

 

 

 

 

Satisfied by:

 

 

 

 

 

 

 

 

Cash received

 

 

 

 

 

 

1,000

 


The net cash flows incurred by Wuhu Feishang, excluding the cash consideration received from the disposal of Wuhu Feishang, are as follows:


 

 

2016

 

 

For the
period from
January 1, 2017 to
March 3,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

Operating activities

 

 

(16,632

)

 

 

(2,727

)

Investing activities

 

 

(81

)

 

 

60

 

Financing activities

 

 

1,920

 

 

 

1,793

 

Net cash outflows

 

 

(14,793

)

 

 

(874

)


An analysis of the cash flows of cash and cash equivalents in respect of the disposal of Wuhu Feishang is as follows:


 

 

 

 

 

March 3,

2017

 

 

 

 

 

 

CNY

 

 

 

 

 

 

 

 

 

 

Cash consideration received

 

 

 

 

 

 

1,000

 

Less: Cash and cash equivalents disposed of

 

 

 

 

 

 

(18

)

Net cash inflows from the disposal of Wuhu Feishang

 

 

 

 

 

 

982

 

Discontinued operation of Double Grow [Member]  
ContinuingAndDiscontinuedOperationsLineItems [Line Items]  
Schedule of discontinued operations

The results of Double Grow are presented below:


 

 

2016

 

 

For the
period from
January 1, 2017 to
December 29,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

Administrative expenses

 

 

(3,907

)

 

 

(5,966

)

Other operating expenses, net

 

 

(3,575

)

 

 

 

OPERATING LOSS

 

 

(7,482

)

 

 

(5,966

)

 

 

 

 

 

 

 

 

 

Finance costs

 

 

(72

)

 

 

(78

)

Non-operating expenses, net

 

 

(84

)

 

 

(840

)

LOSS BEFORE INCOME TAX

 

 

(7,638

)

 

 

(6,884

)

LOSS FOR THE PERIOD FROM DOUBLE GROW

 

 

(7,638

)

 

 

(6,884

)

 

 

 

 

 

 

 

 

 

Loss on disposal of Double Grow

 

 

 

 

 

(27,911

)

LOSS FOR THE PERIOD FROM DOUBLE GROW

 

 

(7,638

)

 

 

(34,795

)


The details of the net assets of Double Grow as at December 29, 2017 are as follows:


 

 

 

 

 

December 29,

2017

 

 

 

 

 

 

CNY

 

Net assets disposed of:

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment

 

 

 

 

 

 

45,442

 

Intangible assets

 

 

 

 

 

 

5

 

Inventories

 

 

 

 

 

 

5,659

 

Trade and bills receivables

 

 

 

 

 

 

340

 

Prepayments

 

 

 

 

 

 

572

 

Other receivables

 

 

 

 

 

 

5,962

 

Cash and cash equivalents

 

 

 

 

 

 

807

 

Trade payables

 

 

 

 

 

 

(786

)

Other payables and accrued liabilities

 

 

 

 

 

 

(2,561

)

Taxes payable

 

 

 

 

 

 

(621

)

Due to related companies

 

 

 

 

 

 

(21,994

)

Asset retirement obligations

 

 

 

 

 

 

(386

)

Net assets disposed of

 

 

 

 

 

 

32,439

 

Exchange fluctuation reserve

 

 

 

 

 

 

3,280

 

 

 

 

 

 

 

 

35,719

 

 

 

 

 

 

 

 

 

 

Loss on disposal of Double Grow

 

 

 

 

 

 

(27,911

)

Consideration

 

 

 

 

 

 

7,808

 

 

 

 

 

 

 

 

 

 

Satisfied by:

 

 

 

 

 

 

 

 

Cash received

 

 

 

 

 

 

7,808

 


The net cash flows incurred by Double Grow, excluding the cash consideration received from the disposal of Double Grow, are as follows:


 

 

2016

 

 

For the
period from
January 1,
2017 to
December 29,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

Operating activities

 

 

(11,879

)

 

 

(5,796

)

Investing activities

 

 

(4,453

)

 

 

(5,823

)

Financing activities

 

 

5,915

 

 

 

10,173

 

Net foreign exchange difference

 

 

303

 

 

 

(100

)

Net cash outflows

 

 

(10,114

)

 

 

(1,546

)


An analysis of the cash flows of cash and cash equivalents in respect of the disposal of Double Grow is as follows:


 

 

 

 

 

For the
period from
January 1,
2017 to
December 29,

2017

 

 

 

 

 

 

CNY

 

 

 

 

 

 

 

 

 

 

Cash consideration received

 

 

 

 

 

 

7,808

 

Less: Cash and cash equivalents disposed of

 

 

 

 

 

 

(807

)

Net cash inflows from the disposal of Double Grow

 

 

 

 

 

 

7,001

 


The results of the above discontinued operations are presented below:


 

 

2016

 

 

For the
period from
January 1,
2017 to
December 29,

2017

 

 

 

CNY

 

 

CNY

 

 

 

 

 

 

 

 

 

 

Loss per share from the discontinued operations (Presented in CNY per share)

 

 

 

 

 

 

 

 

Basic

 

 

(0.74

)

 

 

(0.95

)

Diluted

 

 

(0.74

)

 

 

(0.95

)