14. Earnings per share
|
|
|
Year ended |
|
Year ended * |
|
Year ended * |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD |
|
USD |
|
USD |
|
Basic earnings per share |
|
$0.04 |
|
$0.09 |
|
$0.07 |
|
Diluted earnings per share |
|
$0.04 |
|
$0.08 |
|
$0.06 |
Basic earnings per share
The earnings and weighted average number of ordinary shares used in the calculation of basic earnings per share are as follows:
|
|
|
Year ended |
|
Year ended * |
|
Year ended * |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
Profit for the year attributable to owners of the Company |
|
179,679 |
|
376,630 |
|
253,411 |
|
Earnings used in the calculation of basic earnings per share |
|
179,679 |
|
376,630 |
|
253,411 |
|
Weighted average number of ordinary shares for the purposes of basic earnings per share |
|
4,628,850,686 |
|
4,221,765,945 |
|
3,896,041,667 |
*The basic and diluted earnings per share and weighted average number of ordinary shares for the prior years have been adjusted to reflect the impact of the Share Consolidation, on the basis that every ten ordinary shares of US$0.0004 each consolidated into one ordinary share of US$0.004 each, which was accounted for as a reverse stock split effective on December 7, 2016.
Diluted earnings per share
The earnings used in the calculation of diluted earnings per share are as follows:
|
|
|
Year ended |
|
Year ended |
|
Year ended |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
Earnings used in the calculation of basic earnings per share |
|
179,679 |
|
376,630 |
|
253,411 |
|
Interest expense from convertible bonds |
|
905 |
|
16,352 |
|
13,238 |
|
Earnings used in the calculation of diluted earnings per share |
|
180,584 |
|
392,982 |
|
266,649 |
The weighted average number of ordinary shares used in the calculation of basic earnings per share reconciles to the weighted average number of ordinary shares used in the calculation of diluted earnings per share as follows:
|
|
|
Year ended |
|
Year ended * |
|
Year ended * |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
Weighted average number of ordinary shares used in the calculation of basic earnings per share |
|
4,628,850,686 |
|
4,221,765,945 |
|
3,896,041,667 |
|
Employee option and restricted share units |
|
44,496,788 |
|
36,240,710 |
|
36,944,830 |
|
Convertible bonds |
|
38,241,356 |
|
575,099,614 |
|
393,257,100 |
|
Perpetual subordinated convertible securities |
|
1,848,513 |
|
— |
|
— |
|
Weighted average number of ordinary shares used in the calculation of diluted earnings per share |
|
4,713,437,343 |
|
4,833,106,269 |
|
4,326,243,597 |
During the year ended December 31, 2017, the Group had 5,214,138 weighted average outstanding employee stock options which were excluded from the computation of diluted earnings per share due to the exercise price higher than the average market price of the ordinary shares and 377,137,509 potential shares upon the conversion of convertible bonds excluded from the computation of diluted earnings per share due to anti-dilutive effect.
During the year ended December 31, 2016, the Group had 19,757,421* weighted average outstanding employee stock options which were excluded from the computation of diluted earnings per share because the exercise price was greater than the average market price of the common shares.
During the year ended December 31, 2015, the Group had 40,367,017* weighted average outstanding employee stock options which were excluded from the computation of diluted earnings per share because the exercise price was greater than the average market price of the common shares.
*Weighted average number of ordinary shares and options for the prior years have been adjusted to reflect the impact of the Share Consolidation, on the basis that every ten ordinary shares of US$0.0004 each consolidated into one ordinary share of US$0.004 each, which was accounted for as a reverse stock split effective on December 7, 2016.