The board of directors (the "Directors" or the "Board") of China Development Bank International Investment Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2015 (the "Year").
For the Year, the Group recorded a profit of approximately HK$113.26 million (31 December 2014: approximately HK$48.56 million) which is primarily attributable to the change in fair value of financial investments and reduction in general and administrative expenses during the Year.
The investment income for the Year decreased 34.38% from the last year to approximately HK$34.60 million (31 December 2014: approximately HK$52.73 million), primarily due to the interest income from the convertible notes, convertible bond and loan.
For both the years ended 31 December 2014 and 2015, the Group's investment income was all derived in Hong Kong, based on the physical location of the underlying assets that generate the revenue. The Group's non-current assets (other than financial instruments) are located in PRC and Hong Kong.
The interest income was approximately HK$0.25 million, representing a decrease of 86.81% as compared to approximately HK$1.90 million last year.
The gain in fair value of financial assets held for trading amounts to approximately HK$0.40 million (31 December 2014: loss in fair value of HK$14.58 million) was recorded in the Year, which was attributable to the change in fair value of unlisted warrant instrument and related put rights of Jinqiao Investments Limited ("Jinqiao") and unlisted warrant of Yingde Gases Group Company Limited ("Yingde Gases").
The gain in fair value of investments designated at fair value through profit or loss amounts to approximately HK$97.97 million (31 December 2014: HK$25.47 million) was recorded in the Year, which was attributable to the 6,383 preferred shares of JinkoSolar Power Engineering Group Limited ("JinkoSolar Power"), the senior, secured and guaranteed convertible notes of North Sea Rigs Holdings Limited ("NSR Holdings"), loan of Jinqiao and convertible bond of Yingde Gases. The net realised gain on disposals of financial assets at fair value through profit or loss amounts to HK$75.22 million.
The general and administrative expenses of the Group for the Year were approximately HK$19.23 million (31 December 2014: approximately HK$20.20 million). It is mainly resulted from the decrease in legal and professional fees on transactions.
The Group's net asset value increased from approximately HK$1,112.64 million as at 31 December 2014 to approximately HK$1,221.52 million as at 31 December 2015, with earnings per share of HK3.90 cents (31 December 2014: earnings per share of HK1.67 cents).