Year ended 31 December
2019
RMB’000
2018
RMB’000
2017
RMB’000
2016
RMB’000
2015
RMB’000
RESULTS
Revenue 6,077,400 7,356,958 7,317,619 7,004,548 7,473,200
Cost of sales (3,946,801) (5,305,746) (5,551,155) (5,460,083) (5,400,560)
Gross profit 2,130,599 2,051,212 1,766,464 1,544,465 2,072,640
Other income 52,733 51,927 70,491 72,949 92,850
Gains arising from acquisition of subsidiaries - 790,959 - 583,113 -
Fair value gains on investment properties 147,396 6,586 341,216 201,219 215,066
Net impairment losses on financial and contract assets (9,174) (23,861) - (19,270) -
Other (losses)/gains – net 347,032 (45,058) 19,998 (342,839) 5,175
Selling and marketing expenses (208,086) (192,886) (236,083) (215,505) (210,469)
Administrative expenses (520,801) (502,698) (478,585) (434,358) (386,458)
Finance costs – net (683,098) (659,853) (334,461) (278,346) (311,004)
Share of profits and losses of joint ventures and associates 50,808 8,810 449,702 (80,676) (36,177)
Profit before income tax 1,307,409 1,485,138 1,598,742 1,030,752 1,411,623
Income tax expenses (669,306) (681,552) (504,480) (456,599) (620,155)
Profit for the year 638,103 803,586 1,094,262 574,153 821,468
Owners of the Company 450,164 833,919 984,302 564,000 821,263
Non-controlling interests 187,939 (30,333) 109,960 10,153 205
638,103 803,586 1,094,262 574,153 821,468


As at 31 December
2019
RMB’000
2018
RMB’000
2017
RMB’000
2016
RMB’000
2015
RMB’000
ASSETS, LIABILITIES AND NON-CONTROLLING INTERESTS
TOTAL ASSETS 43,873,463 43,086,362 37,097,484 35,959,502 34,518,188
TOTAL LIABILITIES (31,337,942) (31,247,803) (25,954,578) (25,812,973) (25,109,702)
NON-CONTROLLING INTERESTS (678,523) (463,615) (404,727) (274,189) (12,105)
11,856,998 11,374,944 10,738,179 9,872,340 9,396,381