PR-Inside.com: 2017-03-30 06:26:06
Strategic Focus on Three Sectors and Overseas, coupled with efficient "Post-investment Management + Services", Boosting the Value of Sustained Release
HONG KONG, Mar 30, 2017 - (ACN Newswire) - Legend Holdings Corporation ("Legend Holdings" or the "Company"; HK:3396) is pleased to announce the audited annual results of the Company and its subsidiaries for the year ended December 31, 2016 (the "Reporting Year").
- Combined revenue was RMB307 billion, of which revenue from continuing operations was RMB294.7 billion.
- Net profit attributable to equity holders of the Company was RMB4,859 million, an increase of 4.3% compared with last corresponding year; of which, net profit from continuing operations attributable to equity holders of the Company was RMB4,852 million, an increase of 10.5% compared with last corresponding year.
- Basic earnings per share contributed by continuing operations was RMB2.06, an increase of 2% compared with last corresponding year.
- The Board has recommended the payment of a final dividend of RMB0.242 per ordinary share (before tax), an increase of 10% compared with last corresponding year.
During the Reporting Year, the net profit attributable to equity holders of the Company amounted to RMB4,859 million, up 4.3% compared with last corresponding year, with earnings per share at RMB2.06. The net profit in continuing operations attributable to equity holders of the Company amounted to RMB4,852 million, up10.5% compared with last corresponding year. Our strategic investments substantial growth, with over RMB3 billion increase in the net profit attributable to equity holders of the Company. Subject to market fluctuations, the net profit attributable to equity holders of the Company from financial investments sector amounted to RMB2,901 million.
Our strategic investment sectors recorded outstanding figures. The IT sector turned around in profit during the Reporting Year; the financial services sector recorded robust revenue and profit growth; the size of the innovative consumption and services business continued to grow; the agriculture and food business was more comprehensive; and the new materials sector entered into a profitable growth track. Meanwhile, the company made breakthroughs in overseas investment in the financial services sector and agriculture and food sector. The funds of the Company's financial investment business were further expanded in scale, provided continuous cash inflow to Legend Holdings.
"In view of 2016, the Company has pushed forward the execution of its strategic targets in 2016. On the one hand, we have made adjustments to our investment portfolio in accordance with our strategies, and promoted post-investment management and value-added services; on the other hand, we have deepened industry research and optimized tactics and project sourcing to capture new opportunities. With careful insight and comprehensive consideration, the Company continues to unlock its value. Meanwhile, we awarded medium and long-term incentives to core employees of the Company. The implementation of these incentives will further stimulate the staff's sense of ownership and long-term commitment to the Company," says Mr. ZHU Linan, President of Legend Holdings Corporation.
"In the future, we are fully aware that uncertainties in the external environment still exist and will continue for a long time. We also need to evaluate the invested companies from different perspectives to optimize and elevate our investment portfolio through continuously dynamic adjustments. We will insist on the unique 'two-wheel-drive' business model of Legend Holdings 'strategic investments + financial investments', strengthen the synergistic interactions between 'two wheels' at both the mechanism and execution levels, further driving the value of growth. We will endeavor to reach this target in three major strategic sectors, including financial services, innovative consumption and services, and agriculture and food. Taking both local and overseas in view, we will engage in building new pillar businesses. In addition, we will continuously realize the value growth and more explicit value by helping invested companies to carry out capital operations. Such moves can contribute to forming a clearer understanding of the portfolio value of Legend Holdings by capital markets. This is also one of the responsibilities that Legend Holdings as a listed company to shareholders."
In 2016, an array of changes occurred in international politics, the macro-economy and financial markets. However, based on more than 30 years of amplifying its investments in China and industrial accumulation, Legend Holdings has been able to continue capturing growth opportunities during this year of uncertainty. The Company's strategic investments have always been centered on consumption upgrades, while the state actively encourages the continuous establishment of industrial areas. By focusing on laying the foundations of enterprise value, through a combination of optimization, post-management and capital operation, the Company has achieved remarkable progress, boosting the value of its sustained release.
- Focus on investment portfolio in three major sectors creates strong source of profit
Legend Holdings is committed to cultivating and strengthening its portfolio with high quality and potential investments. Building on its established advantages and deep insight into economic development trends, the Company is focusing on its strategic investment on three major sectors, including financial services, innovative consumption and services, and agriculture and food. Meanwhile, the Company is actively exploring cross-border investments to elevate the allocation of overseas assets in its portfolio. During the Reporting Year, these three sectors achieved 75%, 43% and 99% revenue growth respectively.
In the financial services sector, the Company supported the original Lakala Group in completing the split of its payment and financial businesses, with the latter becoming a subsidiary of Legend Holdings. The newly established Koala Technology is China's leading platform for integrated internet financial services, with a rapid developing business; and JC Finance & Leasing is a professional company of Legend Holdings specializing in finance leasing and relative financial businesses, whose indicators have shown strong growth in the one year of its establishment. In the innovative consumption and services sector, the Company continued to converge and develop its existing businesses and constantly built their core competencies. At the same time, the Company continued to seek new investment opportunities. During the Reporting Year, the Company completed a strategic investment in Shanghai Neuromedical Center, a specialist hospital built to the scale of tertiary specialized hospital standards and excelling in several key areas, especially clinical neuroscience. This has established the healthcare services industry as another specialist area. In addition, the Company made positive progress to its cross-border investments in financial services sector and agriculture and food sector through investing in the UK bulk annuity company Pension Insurance Corporation, and taking strategic control of the Australian seafood enterprise KB Seafoods respectively.
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