34 EARNINGS PER SHARE

The calculation of basic earnings per share is based on the net profit for the year attributable to equity holders of approximately RMB748,439,000 (2017 and 2018: RMB1,015,361,000 and RMB784,059,000), divided by the weighted average number of ordinary shares outstanding during the year of 7,083,537,000 shares (2017 and 2018: 7,083,537,000 shares). There were no dilutive potential ordinary shares during each of the three years in the period ended December 31, 2019. The calculation of earnings per equivalent ADS is based on the net profit for the year attributable to equity holders, divided by the weighted average equivalent ADSs (one ADS represents 50 H Shares) outstanding during the year of 141,670,740 ADSs (2017 and 2018: 141,670,740 ADSs).

2017

2018

2019

RMB’000

Profit attributable to owners of the Company

1,015,361

784,059

748,439

Weighted average number of ordinary shares in issue

7,083,537

Weighted average equivalent ADSs

141,670

Basic and diluted earnings per share

RMB0.14

RMB0.11

Basic and diluted earnings per equivalent ADS

RMB7.17

RMB5.53

RMB5.28