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.

RESULTS

(Incorporated in Hong Kong with limited liability)

(Stock Code: 666)

ANNOUNCEMENT OF 2016 RESULTS

The Board of Directors (the "Board") of SHK Hong Kong Industries Limited (the "Company") announces that the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31st December, 2016 are as follows:

CONSOLIDATED INCOME STATEMENT

For the year ended 31st December, 2016

Notes

2016

HK$'000

2015

HK$'000

Revenue

3

19,026

33,783

Other net loss

4

(48,190)

(67,908)

Administrative and other operating expenses

7

(30,348)

(70,690)

Finance costs

5

-

(13)

Loss on disposal of joint ventures

6

(14,067)

-

Share of loss of joint ventures

-

(540)

Share of (loss)/profit of associates

(9)

1,825

Loss before income tax

7

(73,588)

(103,543)

Income tax expense

8

-

-

Loss for the year

(73,588)

(103,543)

(Loss)/profit for the year attributable to:

Owners of the Company

(73,565)

(103,989)

Non-controlling interests

(23)

446

(73,588)

(103,543)

Loss per share attributable to the owners of the Company (HK cents)

10

- Basic

(1.79)

(2.53)

- Diluted

(1.79)

(2.53)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31st December, 2016

2016 2015 HK$'000 HK$'000

Loss for the year (73,588) (103,543)

Other comprehensive (expenses)/income

Change in fair value of available-for-sale financial assets

(32)

2,119

Reclassification adjustment for realisation upon redemption/

disposal of available-for-sale financial assets

(906)

(3,917)

Share of other comprehensive income of joint ventures

-

21

Share of other comprehensive expenses of an associate

(253)

(187)

Items that may be reclassified subsequently to profit or loss: Other comprehensive expenses for the year, net of tax (1,191) (1,964) Total comprehensive expenses for the year (74,779) (105,507) Total comprehensive (expenses)/income for

the year attributable to:

Owners of the Company

(74,645)

(105,872)

Non-controlling interests

(134)

365

(74,779) (105,507) CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31st December, 2016

Notes

2016

HK$'000

2015

HK$'000

ASSETS AND LIABILITIES

Non-current assets

Interests in associates

3,880

4,311

Amount due from an associate

8,609

8,569

Available-for-sale financial assets

11

385,350

160,120

397,839

173,000

Current assets

Available-for-sale financial assets

11

-

49,158

Other receivables and prepayment

443

25,809

Amounts due from joint ventures

-

5,143

Financial assets at fair value through profit or loss

12

551,607

672,382

Security deposits

-

6,290

Cash and cash equivalents

245,222

313,909

797,272

1,072,691

Current liabilities

Other payables and accrued expenses

23,753

1,337

Amount due to a holding company

317

328

Amount due to a fellow subsidiary

5,393

5,091

Financial liabilities at fair value through profit or loss

13

10,454

8,962

39,917

15,718

Net current assets

757,355

1,056,973

Total assets less current liabilities

1,155,194

1,229,973

Net assets

1,155,194

1,229,973

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Cont'd)

As at 31st December, 2016

Notes

2016

HK$'000

2015

HK$'000

EQUITY

Equity attributable to the owners of the Company

Share capital

918,978

918,978

Reserves

235,302

309,947

1,154,280

1,228,925

Non-controlling interests

914

1,048

Total equity

1,155,194

1,229,973

Net asset value per share attributable to the owners of the Company (HK$)

14

0.28

0.30

SHK Hong Kong Industries Limited published this content on 16 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 March 2017 15:08:16 UTC.

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