AEON Stores Hong Kong : Announcements and notices (101 KB/PDF) Profit warning

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

永旺(香港)百貨有限公司

(Incorporated in Hong Kong with limited liability)

This announcement is made by AEON Stores (Hong Kong) Co., Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to the provisions of inside information under Part XIVA of the Securities and Future Ordinance (Cap.571, Laws of Hong Kong) and Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board of Directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group and information currently available, the Group is expected to record a considerable increase in the loss for the year ended 31 December 2017 as compared to the corresponding period last year.

The increase in the loss for the year ended 31 December 2017 is mainly attributable to:

1. Closure costs of stores operating in mainland China on early termination of the lease of those stores;

2. Impairment loss of property plant and equipment related to the store operating in mainland China;

3. The increase in operating revenue has been less than the increase in the operating expenses.

The information contained in this announcement is only based on a preliminary assessment by the Group's management of the unaudited management accounts of the Group and the information available for the time being, but not on any data or information which has been audited or reviewed by the auditors of the Company. The audited results of the Group for the year ended 31 December 2017 are expected to be announced by the Company in March 2018.

Hong Kong, 1 December 2017

As at the date of this announcement, the Executive Directors are Ms. Yuki Habu, Mr. Masamitsu Ikuta, Mr. Hideaki Yajima, Mr. Chak Kam Yuen and Mr. Lau Chi Sum Sam; the Non-executive Director is Mr. Shinya Wako; and the Independent Non-executive Directors are Ms. Chan Yi Jen Candi Anna, Ms. Lo Miu Sheung, Betty and Mr. Chow Chi Tong.