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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 00487) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 RESULTS

The board of directors (the "Board") of Success Universe Group Limited (the "Company") announces that the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2016, with the comparative figures for the year ended 31 December 2015, are as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the year ended 31 December 2016

Notes

2016

HK$'000

2015

HK$'000

Revenue

3, 4

573,132

1,010,669

Cost of sales

(547,030)

(973,492)

Gross profit

26,102

37,177

Other revenue and gains

5

23,569

26,216

Administrative expenses

(97,017)

(95,507)

Selling expenses

(2,463)

(6,496)

Other operating expenses

6(c)

(3,185)

(2,247)

Loss from operations

(52,994)

(40,857)

Finance costs

6(a)

(2,079)

(601)

Share of results of joint ventures

495

527

Share of results of associates

17,513

29,288

Loss before taxation

6

(37,065)

(11,643)

Taxation

7

-

-

Loss for the year

(37,065)

(11,643)

Attributable to:

Owners of the Company

(30,977)

(6,670)

Non-controlling interests

(6,088)

(4,973)

Loss for the year

(37,065)

(11,643)

Loss per share

- Basic

9

(0.63) HK cents

(0.14) HK cents

- Diluted

(0.63) HK cents

(0.14) HK cents

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 December 2016

2016 2015

HK$'000 HK$'000

Loss for the year (37,065) (11,643) Other comprehensive loss

Item that may be reclassified subsequently to profit or loss:

Exchange differences on translation of financial

statements of overseas subsidiaries

(2,250)

(6,768)

Total other comprehensive loss for the year, net of tax

(2,250)

(6,768)

Total comprehensive loss for the year

(39,315)

(18,411)

Attributable to:

Owners of the Company

(32,654)

(11,764)

Non-controlling interests

(6,661)

(6,647)

Total comprehensive loss for the year

(39,315)

(18,411)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 December 2016

Note

2016

HK$'000

2015

HK$'000

NON-CURRENT ASSETS

Property, plant and equipment

37,904

22,138

Intangible assets

8,021

10,833

Investment property

10

191,708

-

Interests in associates

543,621

967,108

Interests in joint ventures

3,884

4,089

785,138

1,004,168

CURRENT ASSETS

Amount due from an associate

294,420

-

Trade and other receivables

11

35,014

56,832

Pledged bank deposits

9,353

9,598

Cash and cash equivalents

64,509

81,784

Tax recoverable

-

897

403,296

149,111

CURRENT LIABILITIES

Trade and other payables

12

17,604

29,483

Deferred income

245

339

Bank loan

13

122,500

-

Financial guarantee contract

10,000

19,995

150,349

49,817

NET CURRENT ASSETS

252,947

99,294

TOTAL ASSETS LESS CURRENT LIABILITIES

1,038,085

1,103,462

Success Universe Group Limited published this content on 30 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 March 2017 12:54:21 UTC.

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