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For the year ended 31 December
2015
(RMB million)
2014
(RMB million)
2013
(RMB million)
2012
(RMB million)
2011
(RMB million)
Profitability data
Turnover 3,107.5 2,841.4 2,612.9 2,902.9 4,646.9
Gross profit 1,201.5 1,079.0 926.6 1,058.2 1,832.5
Net profit for the year 392.3 320.7 244.3 310.6 777.7
Basic earnings per share
(RMB cents)
17.56 15.28 11.64 14.80 37.07
Diluted earnings per share
(RMB cents)
17.54 15.27 11.64 14.80 37.06
Profitability ratios
Gross profit margin 38.7% 38.0% 35.5% 36.5% 39.4%
Net profit margin 12.6% 11.3% 9.3% 10.7% 16.7%
Effective tax rate 34.9% 34.4% 37.4% 23.4% 17.0%
Return on equity (note 1) 8.6% 7.7% 6.0% 7.6% 20.7%
Operating ratios
(as a percentage of turnover)
Advertising and
promotion expenses
8.7% 10.6% 10.7% 14.0% 14.2%
Staff costs 14.7% 15.8% 13.9% 12.1% 8.0%
Research and
development expenses
2.0% 2.2% 2.3% 1.6% 1.0%
As at 31 December
2015
(RMB million)
2014
(RMB million)
2013
(RMB million)
2012
(RMB million)
2011
(RMB million)
Assets and liabilities data
Non-current assets 750.2 790.3 824.3 806.7 672.3
Current assets 5,764.8 5,084.0 4,624.0 4,241.9 4,207.5
Current liabilities 1,275.5 1,190.3 1,010.0 898.8 777.3
Non-current liabilities 353.9 437.4 316.5 66.7 59.0
Shareholders’ equity 4,885.6 4,246.6 4,121.8 4,083.1 4,043.5
Current ratio 4.5 4.3 4.6 4.7 5.4
Gearing ratio (Note 2) 20.8% 24.8% 18.6% 12.2% 4.0%
Net asset value per share
(RMB yuan)
2.04 2.02 1.96 1.95 1.93
  For the year ended 31 December
  2015
(day)
2014
(day)
2013
(day)
2012
(day)
2011
(day)
Working capital data
Average inventory turnover days
(Note 3)
63 74 81 80 49
Average trade receivables and
bills receivable turnover days
(Note 4)
109 114 135 127 66
Average trade payables and
bills payable turnover days
(Note 5)
33 41 45 48 48
Notes:
1. Return on equity is equal to the net profit for the year divided by the average of the opening and closing equity.
2. The calculation of gearing ratio is based on the total bank loans divided by the equity.
3. Average inventory turnover days is equal to the average of the opening and closing inventory divided by the costs of sales and multiplied by the number of days for the year.
4. Average trade receivables and bills receivable turnover days is equal to the average of the opening and closing trade receivables and bills receivable divided by the turnover and multiplied by the number of days for the year.
5. Average trade payables and bills payable turnover days is equal to the average of the opening and closing trade payables and bills payable divided by the cost of sales and multiplied by the number of days for the year.