GREAT WALL TERROIR HOLDINGS LIMITED 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.
Great Wall長城Terroir天下控股Holdings有限公司Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 524)
AUDITED FINAL RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2021
HIGHLIGHTS FOR THE YEAR
- The Group's revenue for the year ended 31 December 2021 amounted to approximately HK$103.5 million, representing an increase of approximately 43.0% from approximately HK$72.4 million for the year ended 31 December 2020.
- The loss attributable to owners of the Company for the year ended 31 December 2021 amounted to approximately HK$22.0 million, compared to profit of approximately HK$16.9 million for the year ended 31 December 2020.
- The Board does not recommend the payment of a final dividend for the year ended 31 December 2021 (2020: Nil).
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RESULTS
The board (the "Board") of directors (the "Director(s)") of Great Wall Terroir Holdings Limited (the "Company") herein announces the audited consolidated financial results of the Company and its subsidiaries (collectively, the "Group") for the year end 31 December 2021 (the "Year"), together with comparative figures for the year ended 31 December 2020 ("Last Year"), as set out below.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 December 2021
2021 | 2020 | ||||||
Notes | HK$'000 | HK$'000 | |||||
Revenue | 3 | 103,177 | |||||
- Contracts with customers | 72,376 | ||||||
- Leases | 336 | - | |||||
Total revenue | 103,513 | 72,376 | |||||
Cost of services | (98,668) | (66,623) | |||||
Gross profit | 4,845 | 5,753 | |||||
Other income, gains and losses | 4 | 14,463 | 41,682 | ||||
19,308 | 47,435 | ||||||
Selling and distribution expenses | (501) | (944) | |||||
Operation and administrative expenses | (31,211) | (25,169) | |||||
(Loss) profit from operations | (12,404) | 21,322 | |||||
Reversal of (loss) allowances on | 274 | ||||||
- Trade receivables | (515) | ||||||
- Other receivables | (276) | (3,282) | |||||
Write-off of trade receivables | (981) | - | |||||
Write-off of other receivables | (571) | - | |||||
Write-off of financial assets at | |||||||
fair value through profit or loss ("FVTPL") | (425) | - | |||||
Net unrealised loss on financial assets at FVTPL | (308) | (552) | |||||
Loss on disposal of a subsidiary | 11 | (5,962) | - | ||||
Finance costs | 5(a) | (1,263) | (192) | ||||
(Loss) profit before taxation | 5 | (21,916) | 16,781 | ||||
Income tax (expense) credit | 6 | (57) | 103 | ||||
(Loss) profit for the year | (21,973) | 16,884 | |||||
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS (CONTINUED)
For the year ended 31 December 2021
2021 | 2020 | ||||||
Note | HK$'000 | HK$'000 | |||||
(Loss) profit for the year attributable to: | |||||||
Owners of the Company | (21,973) | 16,851 | |||||
Non-controlling interests | - | 33 | |||||
(Loss) profit for the year | (21,973) | 16,884 | |||||
HK cents | HK cents | ||||||
(restated) | |||||||
(Loss) earnings per share | |||||||
Basic and diluted | 7 | (1.8) | 1.6 | ||||
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December 2021
2021 | 2020 | |||||
HK$'000 | HK$'000 | |||||
(Loss) profit for the year | (21,973) | 16,884 | ||||
Other comprehensive income (expense) for the year | ||||||
Items that will not be subsequently reclassified to | ||||||
profit or loss: | ||||||
Designated fair value through other comprehensive | ||||||
income ("FVTOCI") - net movement in investment | ||||||
revaluation reserves | 808 | (261) | ||||
Items that are or may be subsequently reclassified to | ||||||
profit or loss: | ||||||
Exchange differences on translation of foreign subsidiaries | 473 | 2,975 | ||||
Release of exchange reserves upon disposal of a subsidiary | 2,753 | - | ||||
Other comprehensive income for the year | 4,034 | 2,714 | ||||
Total comprehensive (expense) income for the year | (17,939) | 19,598 | ||||
Total comprehensive (expense) income for the year | ||||||
attributable to: | ||||||
Owners of the Company | (17,801) | 19,731 | ||||
Non-controlling interests | (138) | (133) | ||||
Total comprehensive (expense) income for the year | (17,939) | 19,598 | ||||
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2021
2021 | 2020 | |||
Notes | HK$'000 | HK$'000 | ||
Non-current assets | ||||
Property, plant and equipment | 65 | 154 | ||
Right-of-use assets | - | - | ||
Investment properties | 53,000 | - | ||
Intangible assets | - | - | ||
Interest in associates | - | - | ||
Designated FVTOCI | 2,064 | 2,123 | ||
Other receivables | 8 | 435 | - | |
55,564 | 2,277 | |||
Current assets | ||||
Trade and other receivables | 8 | 8,287 | 12,343 | |
Contract costs | 31 | - | ||
Tax recoverable | 58 | 55 | ||
Financial assets at FVTPL | 163 | 896 | ||
Pledged bank deposits | 669 | 755 | ||
Bank balances and cash | 30,663 | 33,238 | ||
39,871 | 47,287 | |||
Assets classified as disposal group held for sale | - | 59,188 | ||
39,871 | 106,475 | |||
Current liabilities | ||||
Trade and other payables | 9 | 27,421 | 85,443 | |
Tax payables | 83 | - | ||
Lease liabilities | 793 | 932 | ||
28,297 | 86,375 | |||
Liabilities classified as disposal group held for sale | - | 166 | ||
28,297 | 86,541 | |||
Net current assets | 11,574 | 19,934 | ||
Total assets less current liabilities | 67,138 | 22,211 | ||
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Great Wall Belt & Road Holdings Limited published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 12:21:06 UTC.
