HUASHENG INTERNATIONAL HOLDING 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.
Newtree Group Holdings Limited友川集團控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1323) PRELIMINARY ANNOUNCEMENT OF THE FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017 FINANCIAL HIGHLIGHTSRevenue from continuing operations decreased by approximately 46.9% to HK$122.1 million.
Gross profit from continuing operations decreased by approximately 37.9% to HK$27.2 million.
Gross profit margin from continuing operations increased from 19.1% to 22.3%, mainly due to acquisition of Money Lending Business during the year ended 31 March 2017.
Loss for the year attributable to owners of the Company amounted to approximately HK$190.4 million.
Basic and diluted loss per share from continuing and discontinued operations amounted to approximately HK9.88 cents.
The board (the "Board") of directors (the "Director(s)") of Newtree Group Holdings Limited (the "Company") is pleased to announce the audited annual results of the Company and its subsidiaries (together the "Group") for the year ended 31 March 2017 with the comparative figures for the corresponding period in 2016 as follows:
Consolidated Statement of Comprehensive IncomeFor the year ended 31 March 2017
Notes | 2017 HK$'000 | 2016 HK$'000 (restated) | ||
Continuing operations Revenue | 3 | 122,100 | 229,818 | |
Cost of sales | (94,914) | (186,021) | ||
Gross profit | 27,186 | 43,797 | ||
Other income | 4 | 1,846 | 5,504 | |
Other gains and losses | 5 | (83,995) | (219,361) | |
Selling and distribution expenses | (3,128) | (3,894) | ||
Administrative expenses | (78,374) | (87,270) | ||
Finance costs | 6 | (8,932) | (23,906) | |
Share of loss of an associate | - | (995) | ||
Loss before income tax from continuing operations | (145,397) | (286,125) | ||
Income tax (expense) credit | 7 | (1,639) | 5,011 | |
Loss for the year from continuing operations Discontinued operations Loss for the year from discontinued operations | 9 | (147,036) (46,245) | (281,114) (11,611) | |
Loss for the year | 8 | (193,281) | (292,725) | |
Other comprehensive income: Items that may be reclassified subsequently to profit or loss: - Exchange differences arising on translation | (3,769) | (3,411) | ||
- Fair value gain (loss) on available-for-sale financial assets | 2,200 | (16,300) | ||
(1,569) | (19,711) | |||
Items that were reclassified to profit or loss: - Exchange differences reclassified to profit or loss upon disposal of subsidiaries | - | 464 | ||
- Reclassification adjustment of | ||||
available-for-sale investment reserve upon impairment of assets | 2,800 | 2,200 | ||
2,800 | 2,664 | |||
Other comprehensive income for the year, net of income tax | 1,231 | (17,047) | ||
Total comprehensive income for the year,
net of income tax (192,050) (309,772)
Loss for the year attributable to:
2017 2016Notes HK$'000 HK$'000
(restated)
Owners of the Company (190,400) (284,394)
Non-controlling interests (2,881) (8,331)
(193,281) (292,725)Total comprehensive income for the year attributable to:
Owners of the Company (189,169) (301,441)
Non-controlling interests (2,881) (8,331)
(192,050) (309,772)Loss per share attributable to owners of the Company 11 From continuing and discontinued operations
Basic and diluted (HK cents) (9.88) (24.41) From continuing operations
Basic and diluted (HK cents) (7.48) (23.41) From discontinued operations
Basic and diluted (HK cents) (2.40) (1.00)
Consolidated Statement of Financial Position At 31 March 2017 | |||
Notes | 2017 HK$'000 | 2016 HK$'000 | |
NON-CURRENT ASSETS Property, plant and equipment | 12 | 9,408 | 12,176 |
Prepaid lease payments | 5,049 | 5,503 | |
Other intangible assets | 13 | 49,818 | 60,056 |
Goodwill | 14 | 84,285 | 158,717 |
Interest in an associate | - | 14,400 | |
Available-for-sale financial assets | 16 | 156,200 | 154,000 |
Loan receivables | 17 | 8,000 | - |
312,760 | 404,852 | ||
CURRENT ASSETS Contingent consideration receivable | - | - | |
Inventories | 12,423 | 20,159 | |
Prepaid lease payments | 164 | 173 | |
Loan receivables | 17 | 19,260 | - |
Trade and other receivables and prepayments | 19 | 124,274 | 162,907 |
Bond receivable Pledged bank deposit | 18 | 10,842 - | - 7,809 |
Bank balances and cash | 25,636 | 27,811 | |
192,599 | 218,859 | ||
Assets held for sale | 33,558 | - | |
226,157 | 218,859 | ||
CURRENT LIABILITIES Trade and other payables and accruals | 20 | 155,995 | 167,375 |
Trust receipt loan | - | 752 | |
Tax payable | 6,623 | 11,634 | |
Convertible bonds | 21 | - | 122,340 |
162,618 | 302,101 | ||
Liabilities directly associated with assets held for sale | 3,558 | - | |
166,176 | 302,101 | ||
NET CURRENT ASSETS (LIABILITIES) | 59,981 | (83,242) | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 372,741 | 321,610 | |
NON-CURRENT LIABILITIES Deferred tax liabilities | 8,319 | 10,031 | |
NET ASSETS | 364,422 | 311,579 | |
CAPITAL AND RESERVES Share capital | 23,788 | 9,370 | |
Reserves | 347,510 | 306,204 | |
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY | 371,298 | 315,574 | |
Non-controlling interests | (6,876) | (3,995) | |
TOTAL EQUITY | 364,422 | 311,579 |
Newtree Group Holdings Ltd. published this content on 23 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 June 2017 15:09:06 UTC.
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