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.

COURAGE INVESTMENT GROUP LIMITED

勇利投資集團有限公司

(Incorporated in Bermuda with limited liability)

(Hong Kong Stock Code: 1145)

(Singapore Stock Code: CIN)

ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2021

The Board of Directors (the "Board") of Courage Investment Group Limited (the "Company") is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2021 together with comparative figures as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPRESHENSIVE INCOME

For the six months ended 30 June 2021

Six months ended 30 June

2021

2020

Notes

US$'000

US$'000

(Unaudited)

(Unaudited)

Revenue

Marine transportation income

3,636

3,537

Trading income

-

323

Interest income

392

390

Property rental income

91

110

Total revenue

4

4,119

4,360

Cost of goods sold and direct expenses

(2,493)

(2,746)

Other income

19

23

Other gains and losses, net

5

(36)

(1,878)

Administrative expenses

(665)

(616)

Share of result of a joint venture

(1)

(25)

Finance costs

(240)

(425)

Profit (loss) for the period attributable to owners

of the Company

7

703

(1,307)

- 1 -

Six months ended 30 June

2021

2020

Note

US$'000

US$'000

(Unaudited)

(Unaudited)

Other comprehensive income (expense)

Items that may be reclassified subsequently to profit or

loss:

Exchange difference arising on translation of the foreign

operation of a joint venture

53

(68)

Net decrease in fair value of debt instruments at fair value

through other comprehensive income

(501)

(228)

Other comprehensive expense for the period, net of income

tax

(448)

(296)

Total comprehensive income (expense) for the period

attributable to owners of the Company

255

(1,603)

Basic earnings (loss) per share attributable to owners of

the Company (US cent)

9

0.06

(0.24)

- 2 -

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30 June 2021

At

At

30 June

31 December

2021

2020

Notes

US$'000

US$'000

(Unaudited)

(Audited)

Non-current assets

Property, plant and equipment

29,599

30,280

Right-of-use asset

197

260

Investment property

9,256

9,295

Interest in a joint venture

4,996

4,944

Debt instruments at fair value through other

comprehensive income

10

5,495

10,407

49,543

55,186

Current assets

Trade receivables

11

-

94

Other receivables and prepayments

706

887

Amount due from a joint venture

669

669

Debt instruments at fair value through other

comprehensive income

10

4,411

-

Financial assets at fair value through profit or loss

58

58

Bank balances and cash

7,175

10,032

13,019

11,740

Total assets

62,562

66,926

- 3 -

At

At

30 June

31 December

2021

2020

Notes

US$'000

US$'000

(Unaudited)

(Audited)

Current liabilities

Deposits received, other payables and accruals

1,178

1,182

Contract liabilities

158

41

Borrowings - due within one year

12

5,482

6,089

Lease liabilities

138

136

6,956

7,448

Net current assets

6,063

4,292

Total assets less current liabilities

55,606

59,478

Capital and reserves

Share capital

13

1,098

549

Reserves

48,487

48,991

Total equity

49,585

49,540

Non-current liabilities

Borrowings - due more than one year

12

5,939

9,786

Lease liabilities

82

152

6,021

9,938

Total liabilities and equity

62,562

66,926

- 4 -

Notes:

  1. General information
    The Company (Registration No. 36692) was incorporated in Bermuda on 5 April 2005 as an exempted company with limited liability under the Companies Act 1981 of Bermuda. Its registered office is at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda and its principal place of business is at Room 2113, 21st Floor, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong. The Company is primarily listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and secondarily listed on the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The condensed consolidated financial statements are presented in the United States dollars ("US$"), which is the functional currency of the Company, and all values are rounded to the nearest thousand (US$'000) where appropriate or as indicated.
  2. Principal accounting policies
    The condensed consolidated financial statements have been prepared in accordance with International Accounting Standard ("IAS") 34 Interim Financial Reporting as well as the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (the "Hong Kong Listing Rules").
    The condensed consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments and an investment property that are measured at fair values.
    Other than changes in accounting policies resulting from application of amendments to International Financial Reporting Standards ("IFRSs"), the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2021 are the same as those presented in the Group's audited consolidated financial statements for the year ended 31 December 2020.

- 5 -

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Courage Investment Group Limited published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 12:43:05 UTC.