Financial Performance - The company's revenue for the six months ended June 30, 2019, was RMB 17,230 million, a decrease of 8.0% compared to RMB 18,722 million for the same period last year[5]. - The gross profit margin improved to 19.7%, up from 18.0% in the previous year, with a gross profit amounting to RMB 3,387 million[5]. - The net profit attributable to equity holders for the current period was RMB 348 million, representing an increase of 28.4% from RMB 271 million in the prior period[5]. - The group's total revenue for the six months ended June 30, 2019, was RMB 17,230 million, a slight decrease of 0.7% compared to RMB 17,351 million for the same period in 2018[9]. - Gross profit for the same period was RMB 3,387 million, representing a 13.1% increase from RMB 2,996 million year-on-year[8]. - The pre-tax profit increased by 46.0% to RMB 562 million, compared to RMB 385 million in the same period last year[8]. - Net profit for the period was RMB 348 million, reflecting a 20.4% increase from RMB 289 million year-on-year[8]. - The company reported a decrease in trade receivables of RMB 2,555 million for the six months ended June 30, 2019, compared to an increase of RMB (1,172) million in the same period in 2018, indicating improved collection efficiency[38]. Cash Flow and Liquidity - The company reported a cash inflow of RMB 1,462 million, contrasting with a cash outflow of RMB 2,021 million in the previous period, indicating a significant improvement in cash flow management[3]. - The company’s cash flow from operating activities was RMB 1,462 million for the six months ended June 30, 2019, compared to RMB (2,021) million for the same period in 2018, marking a significant improvement[38]. - Operating cash flow before changes in working capital for the six months ended June 30, 2019, was RMB 1,333 million, compared to RMB 854 million for the same period in 2018, representing a 56.0% increase[38]. - Net cash generated from financing activities for the six months ended June 30, 2019, was RMB 673 million, compared to RMB (1,099) million for the same period in 2018, showing a turnaround in financing cash flow[39]. - Cash and cash equivalents at the end of the period were RMB 4,265 million, an increase from RMB 3,717 million at the end of the same period in 2018[39]. Revenue Breakdown - Sales from television products accounted for 55.5% of total revenue, while digital set-top boxes and LCD modules contributed 21.1%[5]. - In the domestic market, revenue reached approximately RMB 12,257 million, a growth of RMB 274 million or 2.3% compared to the previous year[13]. - Revenue from overseas markets was RMB 4,973 million, a decrease of 7.4% from RMB 5,368 million in the previous year[14]. - The group's television product revenue in the mainland China market for the six months ended June 30, 2019, was RMB 6,639 million, a decrease of RMB 191 million or 2.8% compared to RMB 6,830 million in the same period last year[16]. - The revenue from the group's smart appliance products in the mainland China market was RMB 1,599 million, an increase of RMB 190 million or 13.5% compared to RMB 1,409 million in the same period last year[19]. Expenses and Investments - Research and development expenses increased by 20.6% to RMB 908 million, up from RMB 831 million in the same period last year, reflecting significant investment in high-quality smart products[23]. - The sales and distribution expenses for the group amounted to RMB 1,838 million, a 10.4% increase from RMB 1,665 million in the same period last year[23]. - The company plans to invest approximately RMB 820 million in property, factory, and office construction, as well as new equipment to enhance production capacity[29]. - The group invested approximately RMB 239 million in construction projects for the six months ended June 30, 2019, compared to RMB 228 million for the same period in 2018[90]. Shareholder Information - The company decided not to declare an interim dividend for this period, consistent with the previous year's decision[5]. - The company declared a final dividend of HKD 0.060 per share for the year ended December 31, 2018, totaling RMB 160 million, down from RMB 241 million for the previous year[89]. - The total number of shares held by directors as beneficial owners is 43,278,024, representing 4.03% of the total issued shares[165]. - The total number of share options granted to directors is 30,000,000, with 20,000,000 options exercised in the current period[173]. Corporate Governance - The group has complied with the corporate governance code, except for one independent non-executive director's absence from the annual general meeting due to other commitments[182]. - The company has adopted a policy to ensure board diversity, considering various factors such as gender, age, and professional experience[186]. - The group has maintained high standards of corporate governance to enhance transparency and accountability to shareholders[183]. Market Strategy - The group has launched seven new OLED TV models, achieving a market share of 35.3% in the OLED market in mainland China for the first half of 2019[16]. - The group adopted a conservative sales strategy in response to the ongoing US-China trade war, leading to a decline in revenue from low-margin projects[17]. - The company aims to achieve a revenue target of RMB 100 billion through its five-year transformation strategy, focusing on smart, refined, and international development[31]. Asset Management - The total non-current assets amounted to RMB 13,826 million, an increase of 11.5% from RMB 12,396 million as of December 31, 2018[33]. - The company’s total assets less current liabilities increased to RMB 22,017 million from RMB 21,032 million, an increase of 4.7%[34]. - The company reported a total of RMB 600 million in notes receivable, an increase from RMB 500 million at the end of 2018, indicating improved liquidity management[140]. Compliance and Regulations - The company adopted Hong Kong Financial Reporting Standard No. 16 on leases, replacing HKAS 17, which will impact the financial statements starting from the mid-term period[46]. - The company confirmed the use of short-term lease exemptions for leases with a term of twelve months or less, and for low-value asset leases, recognizing lease payments as expenses on a straight-line basis[48]. - The company will recognize right-of-use assets at the commencement date of the lease, measured at cost less any accumulated depreciation and impairment losses[49].

[Financial Summary](index=3&type=section&id=Financial%20Summary) The reporting period covers nine months ending December 31, 2018, reflecting a fiscal year-end change, with turnover decreasing by 23.1% but net profit increasing by 10.8% compared to the prior twelve-month period - Due to the change in fiscal year-end from March 31 to December 31, this reporting period covers the nine months ended December 31, 2018, Compared to the twelve months ended March 31, 2018, turnover decreased by **23.1%**, but net profit increased by **10.8%**[3](index=3&type=chunk) Financial Summary | Metric | Nine Months Ended December 31, 2018 | Twelve Months Ended March 31, 2018 | Change | | :--- | :--- | :--- | :--- | | **Turnover (Million RMB)** | 30,192 | 39,271 | -23.1% | | **Operating Profit (Million RMB)** | 973 | 1,083 | -10.2% | | **Net Profit for the Period/Year (Million RMB)** | 553 | 499 | +10.8% | | **Profit Attributable to Equity Holders of the Company (Million RMB)** | 420 | 459 | -8.5% | | **Gross Profit Margin (%)** | 18.7 | 16.7 | +2.0 percentage points | | **Earnings Per Share - Basic (RMB Cents)** | 13.85 | 15.21 | -8.9% | | **Dividend Per Share (HK Cents)** | 6.0 | 9.0 | -33.3% | | **Debt-to-Equity Ratio (%)** | 48.1 | 57.6 | -9.5 percentage points | [Chairman's Report](index=5&type=section&id=Chairman's%20Report) The Chairman's Report highlights the Group's resilience in a challenging 2018, achieving slight turnover growth, improved gross margin, and significant profit increase, while advancing its 'One-Three-Three-Four' strategy towards intelligent and high-end products and a RMB 100 billion revenue target Operating Performance January-December 2018 (Year-on-Year Comparison) | Metric | Jan-Dec 2018 | Jan-Dec 2017 | YoY Change | | :--- | :--- | :--- | :--- | | **Turnover** | 39.0 Billion RMB | 38.9 Billion RMB | +0.1% | | **Overall Gross Profit Margin** | 18.5% | 16.9% | +1.6 percentage points | | **After-tax Profit** | 839 Million RMB | 220 Million RMB | +281.4% | - The TV industry, as the Group's core business, recorded sales exceeding **15 million units** and turnover of **23.512 billion RMB**, accounting for **60.3%** of total revenue during the review period, with overseas sales exceeding **6.5 million units**, indicating initial success in the internationalization strategy[7](index=7&type=chunk) - The Group will continue to execute the 'One-Three-Three-Four' overall strategy for transformation and upgrading, aiming to achieve **100 billion RMB** in revenue, focusing on intelligence, refinement, and internationalization, promoting the construction of three major bases, and building four major business segments: multimedia, smart home appliances, smart system technology and big data, and modern services[8](index=8&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the Group's financial and operational performance, highlighting key drivers and strategic initiatives across various business segments and geographical markets [Business Performance Review](index=10&type=section&id=Business%20Performance%20Review) The nine-month reporting period, following a fiscal year-end change, saw turnover of **30.192 billion RMB** and profit of **553 million RMB**, with full-year unaudited data showing a **0.1%** turnover increase and **281.4%** profit growth driven by product optimization and internet content - This reporting period is the first fiscal year after changing the fiscal year-end from March 31 to December 31, covering nine months, Concurrently, the presentation currency has been changed from HKD to RMB[16](index=16&type=chunk)[17](index=17&type=chunk) Unaudited Financial Data January-December 2018 (Year-on-Year) | Metric | Jan-Dec 2018 (Million RMB) | Jan-Dec 2017 (Million RMB) | Increase/(Decrease) | | :--- | :--- | :--- | :--- | | **Turnover** | 38,978 | 38,935 | 0.1% | | **Gross Profit** | 7,194 | 6,596 | 9.1% | | **Gross Profit Margin** | 18.5% | 16.9% | 1.6 p.p. | | **Profit Before Tax** | 1,033 | 435 | 137.5% | | **Profit for the Year** | 839 | 220 | 281.4% | TV Sales Volume 2018 (Thousand units) | Market | Jan-Dec 2018 (Thousand units) | Jan-Dec 2017 (Thousand units) | Increase/(Decrease) | | :--- | :--- | :--- | :--- | | **China Market** | 8,804 | 7,813 | 12.7% | | Of which: 4K TVs | 5,003 | 4,302 | 16.3% | | **Overseas Market** | 6,512 | 7,770 | (16.2%) | | **Total Sales Volume** | 15,316 | 15,583 | (1.7%) | [Business Analysis - By Region](index=12&type=section&id=Business%20Analysis%20-%20By%20Region) The Group's business is primarily focused on mainland China, which saw a **10.7%** increase in turnover to **28.236 billion RMB** for the twelve months ended December 31, 2018, while overseas turnover decreased by **20.0%** due to strategic adjustments in OEM business - For the twelve months ended December 31, 2018, turnover from the mainland China market was approximately **28.236 billion RMB**, a year-on-year increase of **10.7%**[22](index=22&type=chunk) - For the twelve months ended December 31, 2018, overseas market turnover was **10.742 billion RMB**, a year-on-year decrease of **20.0%**, primarily due to the strategic adjustment of OEM business client and order structure to pursue higher stability[23](index=23&type=chunk) Overseas Market Turnover Geographical Distribution | Region | Jan-Dec 2018 (%) | Jan-Dec 2017 (%) | | :--- | :--- | :--- | | Asia (excluding Middle East) | 52 | 53 | | Middle East | 14 | 13 | | Africa | 13 | 7 | | Europe | 12 | 13 | | Americas | 8 | 13 | | Oceania | 1 | 1 | [Business Analysis - By Business Segment](index=14&type=section&id=Business%20Analysis%20-%20By%20Business%20Segment) The Group's business is divided into four segments, with multimedia TV sales growing in China but declining overseas due to strategic shifts, while internet content revenue surged and smart appliance business showed strong growth domestically and internationally [1. Multimedia Business](index=14&type=section&id=1.%20Multimedia%20Business) Multimedia business, encompassing TV products and internet content, saw China's color TV sales grow by **12.7%** but revenue slightly decline due to price adjustments, while overseas revenue fell **27.4%** from strategic OEM abandonment, contrasted by a **113.4%** surge in internet content revenue - Color TV product sales in mainland China increased by **12.7%** year-on-year, but turnover decreased by **3.8%** to **16.201 billion RMB** due to price adjustments in response to market competition[28](index=28&type=chunk) - Overseas market color TV product turnover decreased by **27.4%** year-on-year to **7.311 billion RMB**, primarily because the company strategically abandoned low-margin OEM projects to ensure operational stability[29](index=29&type=chunk) - Internet content revenue significantly increased by **113.4%** year-on-year to **510 million RMB**, benefiting from over **36 million** activated smart TV users and strategic collaborations with iQiyi, Tencent, and Baidu[30](index=30&type=chunk) [2. Smart System Technology Business](index=16&type=section&id=2.%20Smart%20System%20Technology%20Business) Smart system technology business, including digital set-top boxes and LCD modules, grew **15.5%** in mainland China to **5.120 billion RMB** due to increased smart terminal sales and telecom operator market share, while overseas turnover decreased by **11.3%** despite new product R&D and strategic partnerships - Turnover from digital set-top boxes and LCD modules in mainland China was **5.120 billion RMB**, a year-on-year increase of **15.5%**, primarily driven by a higher proportion of smart terminal sales and increased market share in the telecom operator segment[31](index=31&type=chunk) - Overseas market turnover was **2.188 billion RMB**, a year-on-year decrease of **11.3%**, as the company focuses on R&D for new Android ecosystem products and establishes strategic partnerships with Google and Netflix[31](index=31&type=chunk) [3. Smart Appliances Business](index=17&type=section&id=3.%20Smart%20Appliances%20Business) The smart appliances business achieved growth through product and sales channel optimization, with smart white goods showing strong performance, increasing **17.4%** in mainland China and **67.0%** overseas, while other smart appliances grew **40.7%** internationally despite a domestic decline Smart Appliances Business Turnover (Jan-Dec 2018) | Product Category | Market | Turnover (Million RMB) | YoY Growth | | :--- | :--- | :--- | :--- | | **Smart White Goods** | China Mainland | 2,052 | +17.4% | | | Overseas Market | 618 | +67.0% | | **Other Smart Appliances** | China Mainland | 736 | -25.0% | | | Overseas Market | 166 | +40.7% | - The company is deepening product R&D around 'health,' 'energy efficiency,' and 'intelligence,' launching high-end, intelligent products such as washing machines with AI smart voice systems[33](index=33&type=chunk) [Financial Performance Analysis](index=18&type=section&id=Financial%20Performance%20Analysis) The Group's financial position remains robust, with overall gross profit margin increasing to **18.5%** due to lower panel prices and product optimization, while R&D expenses rose **18.0%** and the debt-to-equity ratio improved to **48.1%** - For the twelve months ended December 31, 2018, the Group's overall gross profit margin was **18.5%**, a year-on-year increase of **1.6 percentage points**, primarily due to falling upstream panel prices, the launch of differentiated high-end products (MAXTV and OLED series), and the abandonment of low-margin projects in overseas markets[34](index=34&type=chunk) - Selling and distribution expense ratio decreased by **1.1 percentage points** to **9.5%**, while general and administrative expense ratio increased by **0.8 percentage points** to **7.1%**, with R&D expenses growing **18.0%** year-on-year to **1.688 billion RMB**, mainly for high-intelligence, high-quality product development[35](index=35&type=chunk)[36](index=36&type=chunk) - As of December 31, 2018, the Group's debt-to-equity ratio was **48.1%**, an improvement from **57.6%** as of March 31, 2018[38](index=38&type=chunk) - The Group holds **1.911 billion RMB** in unlisted equity securities investments, as well as equity investments in two listed companies, Chigo Holding and Ningbo Gezhi Technology[40](index=40&type=chunk)[41](index=41&type=chunk) [Outlook](index=21&type=section&id=Outlook) Looking ahead, the Group will capitalize on the upgrading opportunities in the home appliance industry, steadfastly advancing its 'One-Three-Three-Four' transformation strategy to achieve **100 billion RMB** in revenue, focusing on intelligence, refinement, and internationalization, and investing in new technologies like ultra-HD video, AI, IoT, and 5G to build a smart home appliance ecosystem - The Group will continue to deeply implement the 'One-Three-Three-Four' strategic plan, aiming for **100 billion RMB** in revenue, and comprehensively implementing three major strategies: intelligence, refinement, and internationalization[45](index=45&type=chunk)[46](index=46&type=chunk) - Future efforts will increase R&D and utilization of new technologies such as ultra-HD video, artificial intelligence, IoT, and 5G, accelerating the deep integration of hardware, software, content, and services to build a smart home appliance industry ecosystem[46](index=46&type=chunk) [Directors and Senior Management Profile](index=22&type=section&id=Directors%20and%20Senior%20Management%20Profile) This section details the background information of the company's executive directors, independent non-executive directors, and senior management, including their age, positions, professional qualifications, industry experience, and tenure within the Group - Mr. Lai Weide, Chairman of the Board, 60 years old, has extensive experience in central government agencies and state-owned enterprise management[49](index=49&type=chunk) - Mr. Liu Tangzhi, Chief Executive Officer, 56 years old, joined the Group in 1998 and holds a Bachelor's degree in Economics and an MBA[49](index=49&type=chunk) - The Board of Directors comprises professionals from diverse fields including accounting, law, electronic engineering, communication information, and enterprise management, reflecting the board's diversity[49](index=49&type=chunk)[50](index=50&type=chunk)[52](index=52&type=chunk)[54](index=54&type=chunk) [Directors' Report](index=31&type=section&id=Directors'%20Report) The Directors' Report outlines the Group's principal activities, performance review, environmental and social responsibilities, dividend policy, and financial position, confirming compliance with relevant regulations and disclosing director and major shareholder interests - The Board recommends a final dividend of **6.0 HK cents** per share in cash for the reporting period ended December 31, 2018, which is lower than the **9.0 HK cents** of the previous year[67](index=67&type=chunk) - As of December 31, 2018, controlling shareholder Mr. Huang Hongsheng and his spouse Ms. Lin Weiping collectively held or were deemed to hold approximately **40.11%** equity interest in the company[81](index=81&type=chunk)[82](index=82&type=chunk)[100](index=100&type=chunk) - During the reporting period, the Group had continuing connected transactions with Nanjing Golden Dragon Bus Manufacturing Co., Ltd., involving factoring services and sale-and-leaseback agreements, with an annual cap of **500 million RMB**, which was not exceeded[103](index=103&type=chunk)[104](index=104&type=chunk) - On June 12, 2018, the Board granted **10,060,000** shares under the share award scheme, with Chairman Mr. Lai Weide and CEO Mr. Liu Tangzhi receiving **3,000,000** and **2,000,000** shares respectively[93](index=93&type=chunk)[95](index=95&type=chunk) [Corporate Governance Report](index=49&type=section&id=Corporate%20Governance%20Report) This report details the company's corporate governance practices, confirming compliance with most Code Provisions of the Corporate Governance Code, and outlines the board's composition, responsibilities, committee structures, risk management, internal controls, and shareholder communication - The company complied with the Code Provisions of the Corporate Governance Code during the reporting period, with deviations only due to fewer than four board meetings (Code A.1.1) and two independent non-executive directors' absence from the AGM (Code A.6.7) caused by the change in fiscal year-end[112](index=112&type=chunk) - The Board has four committees: Executive Committee, Nomination Committee, Remuneration Committee, and Audit Committee, with the latter three chaired by and majority-composed of independent non-executive directors, meeting corporate governance requirements[134](index=134&type=chunk)[136](index=136&type=chunk)[140](index=140&type=chunk)[145](index=145&type=chunk) - The company maintains a Risk Management Department and Internal Audit Department for independent assessment and review of internal controls and risk management systems, which the Board has annually assessed as effective and adequate[150](index=150&type=chunk)[154](index=154&type=chunk)[157](index=157&type=chunk) [Independent Auditor's Report](index=68&type=section&id=Independent%20Auditor's%20Report) Deloitte Touche Tohmatsu issued an unmodified opinion on Skyworth Digital Holdings Limited's consolidated financial statements for the nine months ended December 31, 2018, highlighting key audit matters including inventory write-downs, expected credit loss provisions for trade receivables, and valuation of unlisted equity securities, all involving significant management judgment and estimation - The auditor issued an unmodified opinion on the consolidated financial statements, deeming them to present fairly, in all material respects, the Group's financial position and performance in accordance with Hong Kong Financial Reporting Standards[169](index=169&type=chunk) - Key audit matters include: - **Inventory write-downs**: due to the significant amount of inventory and the significant management judgment involved in the assessment - **Expected credit loss provision for trade receivables**: due to the significant amount of trade receivables and the significant management estimates involved in the impairment assessment - **Valuation of unlisted equity securities**: due to the significant judgment and estimates required in determining fair value[171](index=171&type=chunk)[173](index=173&type=chunk)[175](index=175&type=chunk)[178](index=178&type=chunk) [Consolidated Financial Statements and Notes](index=76&type=section&id=Consolidated%20Financial%20Statements%20and%20Notes) This section presents the Group's detailed consolidated financial statements for the nine months ended December 31, 2018, including statements of profit or loss, financial position, changes in equity, and cash flows, along with comprehensive notes explaining accounting policies and the impact of adopting new HKFRS 15 and 9 [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=76&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the nine months ended December 31, 2018, the Group reported turnover of **30.192 billion RMB**, gross profit of **5.658 billion RMB** with a **18.7%** gross profit margin, and profit for the period of **553 million RMB**, with **420 million RMB** attributable to equity holders Consolidated Statement of Profit or Loss Summary (Nine Months Ended December 31, 2018) | Metric | Amount (Million RMB) | | :--- | :--- | | **Turnover** | 30,192 | | Cost of Sales | (24,534) | | **Gross Profit** | 5,658 | | Profit Before Tax | 648 | | Income Tax Expense | (95) | | **Profit for the Period** | 553 | | Profit Attributable to Equity Holders of the Company | 420 | | Profit Attributable to Non-controlling Interests | 133 | [Consolidated Statement of Financial Position](index=78&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of December 31, 2018, the Group's total assets were **45.160 billion RMB**, total liabilities **27.805 billion RMB**, and net assets **17.355 billion RMB**, with **15.470 billion RMB** attributable to equity holders, and significant assets including property, plant, and equipment, trade receivables, and inventories Consolidated Statement of Financial Position Summary (As of December 31, 2018) | Metric | Amount (Million RMB) | | :--- | :--- | | **Non-current Assets** | 12,396 | | **Current Assets** | 32,764 | | **Total Assets** | 45,160 | | **Current Liabilities** | 24,128 | | **Non-current Liabilities** | 3,677 | | **Total Liabilities** | 27,805 | | **Net Assets** | 17,355 | | **Equity Attributable to Equity Holders of the Company** | 15,470 | | **Non-controlling Interests** | 1,885 | [Consolidated Statement of Cash Flows](index=83&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) For the nine months ended December 31, 2018, the Group's net cash used in operating activities was **2.318 billion RMB**, primarily due to increased trade receivables, with net cash used in investing activities of **948 million RMB** and in financing activities of **634 million RMB**, resulting in a net decrease in cash and cash equivalents of **3.900 billion RMB** Consolidated Statement of Cash Flows Summary (Nine Months Ended December 31, 2018) | Metric | Amount (Million RMB) | | :--- | :--- | | **Net Cash Used in Operating Activities** | (2,318) | | **Net Cash Used in Investing Activities** | (948) | | **Net Cash Used in Financing Activities** | (634) | | **Net Decrease in Cash and Cash Equivalents** | (3,900) | | **Cash and Cash Equivalents at Beginning of Period** | 7,294 | | **Cash and Cash Equivalents at End of Period** | 3,314 | [Notes to the Consolidated Financial Statements](index=85&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes detail accounting policies, key estimates, and statement components, highlighting the change in fiscal year-end and presentation currency, the impact of adopting new HKFRS 15 and 9 on revenue recognition and financial instruments, segment information showing color TV products as the main revenue source, and financial risk management - The Group changed its fiscal year-end from March 31 to December 31 during this financial period, and the presentation currency from HKD to RMB[198](index=198&type=chunk) - The Group first adopted HKFRS 15 (Revenue from Contracts with Customers) and HKFRS 9 (Financial Instruments), with the adoption resulting in adjustments to opening retained profits and other equity components as of April 1, 2018, and comparative information not being restated[201](index=201&type=chunk)[209](index=209&type=chunk) - Segment information indicates that color TV products (China and overseas markets) are the primary source of revenue, accounting for approximately **69%** of external segment revenue, with digital set-top boxes and LCD modules, and white goods products also being significant components[309](index=309&type=chunk) [Financial Summary and Review](index=224&type=section&id=Financial%20Summary%20and%20Review) This section provides a comprehensive overview of the Group's financial performance and position over the past five fiscal periods, including key financial ratios and trends in assets, liabilities, and profitability [Financial Summary](index=225&type=section&id=Financial%20Summary) This section provides a summary of the Group's performance, assets, and liabilities over the past five fiscal periods, showing that despite a shorter reporting period in FY2018, net assets and equity attributable to equity holders have consistently grown Five-Year Performance Summary (Million RMB) | Item | 2018 (9 months) | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Turnover** | 30,192 | 39,271 | 37,147 | 35,010 | 32,068 | | **Gross Profit** | 5,658 | 6,545 | 7,428 | 7,678 | 6,411 | | **Profit Attributable to Equity Holders of the Company** | 420 | 459 | 1,136 | 1,779 | 2,499 | Five-Year Assets and Liabilities Summary (Million RMB) | Item | Dec 31, 2018 | Mar 31, 2018 | Mar 31, 2017 | Mar 31, 2016 | Mar 31, 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Consolidated Assets** | 45,160 | 43,101 | 38,193 | 35,078 | 26,691 | | **Total Consolidated Liabilities** | (27,805) | (26,557) | (23,280) | (21,150) | (14,513) | | **Net Assets** | 17,355 | 16,544 | 14,913 | 13,928 | 12,178 | [Financial Review](index=226&type=section&id=Financial%20Review) This section reviews key financial ratios and statistics over the past five fiscal periods, indicating fluctuations in gross and net profit margins, with the FY2018 (nine months) gross margin at **18.7%** showing recovery but still below 2016 and 2017 levels, and an improved debt-to-equity ratio Five-Year Key Ratios Review | Ratio | 2018 (9 months) | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Gross Profit Margin (%)** | 18.7 | 16.7 | 20.0 | 21.9 | 20.0 | | **Net Profit Margin (%)** | 1.8 | 1.3 | 3.6 | 5.9 | 8.3 | | **Debt-to-Equity Ratio (%)** | 48.1 | 57.6 | 47.5 | 48.5 | 17.0 | | **Earnings Per Share - Basic (RMB Cents)** | 13.85 | 15.21 | 38.04 | 61.34 | 88.58 | [Company Information](index=227&type=section&id=Company%20Information) This chapter provides essential company details, including board and committee members, company secretary, auditor, legal counsel, principal bankers, registered office, principal place of business, share registrar, listing information, and key dates for the 2018/19 final dividend - The company's shares are listed on The Stock Exchange of Hong Kong Limited, stock code **00751**[561](index=561&type=chunk) - The 2018 final dividend is **6.0 HK cents** per share, with a record date of June 11, 2019, and an approximate payment date of June 26, 2019[562](index=562&type=chunk)