Earnest Investments : Announcement

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.

安利時投資控股有限公司 *

(Continued into Bermuda with limited liability)

(Stock Code: 339)

The board of directors (the "Board") of Earnest Investments Holdings Limited (the "Company") is pleased to announce that the audited results of the Company for the year ended 31 December 2016 together with the comparative figures for the corresponding year 2015 are as follows:

For the year ended 31 December 2016

For the year ended 31 December 2016

1. CORPORATE INFORMATION

   The Company was continued into Bermuda as an exempted company with limited liability under the Bermuda Companies Act 1981. The address of its registered office is Canon's Court, 22 Victoria Street, Hamilton HM 12, Bermuda. The address of its principal place of business is Suites 04 & 05, 19/F Harbour Centre, 25 Harbour Road, Wanchai, Hong Kong. The Company's shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

   The principal activity of the Company is investment and trading of listed and unlisted equity securities.

2. BASIS OF PREPARATION

   These financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards ("HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA"). HKFRSs comprise Hong Kong Financial Reporting Standards ("HKFRS"); Hong Kong Accounting Standards ("HKAS"); and Interpretations. These financial statements also comply with the applicable disclosure provisions of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and with the disclosure requirements of the Hong Kong Companies Ordinance (Cap. 622). Significant accounting policies adopted by the Company are disclosed below.

   The HKICPA has issued certain new and revised HKFRSs that are first effective or available for early adoption for the current accounting period of the Company. Note 3 provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Company for the current and prior accounting periods reflected in these financial statements.

3. ADOPTION OF NEW AND REVISED HONG KONG FINANCIAL REPORTING STANDARDS
4. Application of new and revised HKFRSs

   The HKICPA has issued a number of new and revised HKFRSs that are first effective for annual periods beginning on or after 1 January 2016. Of these, the following revised HKFRS are relevant to the Company.

   Amendments to HKAS 1 Presentation of Financial Statements: Disclosure Initiative

   The amendments to HKAS 1 clarify, rather than significantly change, existing HKAS 1 requirements. The amendments clarify various presentation issues relation to:

   • Assessment of materiality versus minimum disclosure requirements of a standard.

   • Disaggregation of specific line items in the statement of profit or loss and other comprehensive income and the statement of financial position. There is also new guidance on the use of subtotals.

   • Confirmation that the notes do not need to be presented in a particular order.

5. New and revised HKFRSs in issue but not yet effective

The Company has not early applied new and revised HKFRSs that have been issued but are not yet effective for the financial year beginning 1 January 2016. These new and revised HKFRSs include the following which may be relevant to the Company.

Amendments to HKAS 7 Statements of Cash Flows: Disclosure initiative1 Amendments to HKAS 12 Income Taxes: Recognition of deferred

tax assets for unrealised losses1

HKFRS 9 Financial Instruments2

HKFRS 16 Leases3

1 Effective for annual periods beginning on or after 1 January 2017, with earlier application permitted.

2 Effective for annual periods beginning on or after 1 January 2018, with earlier application

permitted.

3 Effective for annual periods beginning on or after 1 January 2019, with earlier application permitted.

The Company is in the process of making an assessment of what the impact of these amendments and new standards is expected to be in the period of initial application. So far the Company has identified some aspects of the new standards which may have a significant impact on the financial statements. As the Company has not completed its assessment, further impacts may be identified in due course.