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.
Media Asia Group Holdings Limited
(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)
(Stock Code: 8075)
ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 JANUARY 2019
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.
Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.
This announcement, for which the directors of Media Asia Group Holdings Limited (the "Directors") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM (the "GEM Listing Rules") for the purpose of giving information with regard to Media Asia Group Holdings Limited.
The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
INTERIM RESULTS
The board of directors (the "Board") of Media Asia Group Holdings Limited (the "Company") presents the unaudited condensed consolidated results of the Company and its subsidiaries (the "Group") for the three months and the six months ended 31 January 2019 together with the comparative unaudited figures for the corresponding periods in 2018 as follows:
CONDENSED CONSOLIDATED INCOME STATEMENT
Three months ended | Six months ended |
31 January | 31 January |
2019 2018 | 2019 2018 |
(Unaudited) (Unaudited) | (Unaudited) (Unaudited) |
Notes | |
TURNOVER | 4 |
Cost of sales | |
Gross profit/(loss) | |
Other income | |
Marketing expenses | |
Administrative expenses | |
Other operating gains | |
Other operating expenses | |
PROFIT/(LOSS) FROM | |
OPERATING ACTIVITIES | |
Finance costs | 5 |
Share of profits and losses | |
of joint ventures | |
Share of profit and loss | |
of an associate | |
HK$'000 | HK$'000 | HK$'000 | HK$'000 | |
64,559 | 209,100 | 291,942 | 299,249 | |
(93,041) | (142,572) | (267,031) | (352,547) | |
(28,482) | 66,528 | 24,911 | (53,298) | |
932 | 3,211 | 2,336 | 4,850 | |
(12,314) | (35,391) | (15,375) | (63,434) | |
(37,005) | (48,817) | (71,131) | (82,933) | |
5,449 | 25,983 | 8,670 | 28,160 | |
4,554 | 292 | (3,117) | (313) | |
(66,866) | 11,806 | (53,706) | (166,968) | |
(4,062) | (6,642) | (8,005) | (13,285) | |
(921) | 1,029 | (2,692) | (2,974) | |
14 | (1) | 113 | (1) | |
PROFIT/(LOSS) BEFORE TAX 6 | (71,835) | 6,192 | (64,290) | (183,228) |
Income tax expense 7 | (81) | (178) | (111) | (465) |
PROFIT/(LOSS) FOR | ||||
THE PERIOD | (71,916) | 6,014 | (64,401) | (183,693) |
Attributable to: | ||||
Owners of the Company | (71,740) | 8,293 | (64,912) | (179,749) |
Non-controlling interests | (176) | (2,279) | 511 | (3,944) |
(71,916) | 6,014 | (64,401) | (183,693) | |
EARNINGS/(LOSS) PER | ||||
SHARE ATTRIBUTABLE | ||||
TO OWNERS | ||||
(3.36) | 0.39 | (3.04) | (8.41) | |
- 2 - |
8
OF THE COMPANY Basic and diluted (HK cents)
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Three months ended
31 January
2019 (Unaudited)
2018 (Unaudited)
Six months ended
31 January
2019 (Unaudited)
2018 (Unaudited)
HK$'000
HK$'000
HK$'000
HK$'000
PROFIT/(LOSS) FOR THE PERIOD
OTHER COMPREHENSIVE
LOSS TO BE RECLASSIFIED TO INCOME STATEMENT IN SUBSEQUENT PERIODS Exchange differences on translation of foreign operations
TOTAL COMPREHENSIVE
INCOME/(LOSS)
FOR THE PERIODAttributable to:
Owners of the Company Non-controlling interests
(71,916)
(2,502)
(74,418)
(73,900)
(518)
6,014
(4,594)
1,420
3,769 (2,349)
(64,401) (183,693)
(1,682) (2,579)
(66,083) (186,272)
(66,403) (182,237)
320 (4,035)
(74,418)
1,420
(66,083) (186,272)
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION | |
31 July | |
2019 | 2018 |
(Unaudited) | (Audited) |
31 January
Notes | HK$'000 | HK$'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 4,184 | 4,096 | |
Film and TV program products | 60,638 | 40,453 | |
Film rights | 1,871 | 1,871 | |
Investments in joint ventures | 15,311 | 14,511 | |
Investment in an associate | 3,970 | 3,705 | |
Prepayments, deposits and other receivables | 36,088 | 45,937 | |
Total non-current assets | 122,062 | 110,573 | |
CURRENT ASSETS | |||
Films and TV programs under production | 493,103 | 469,611 | |
Trade receivables | 10 | 47,328 | 47,943 |
Prepayments, deposits and other receivables | 168,655 | 118,782 | |
Cash and cash equivalents | 262,036 | 429,983 | |
Total current assets | 971,122 | 1,066,319 | |
CURRENT LIABILITIES | |||
Trade payables | 11 | 6,261 | 4,975 |
Accruals and other payables | 274,052 | 253,467 | |
Deposits received | 222,798 | 263,154 | |
Tax payable | 9,532 | 9,530 | |
Total current liabilities | 512,643 | 531,126 | |
NET CURRENT ASSETS | 458,479 | 535,193 | |
TOTAL ASSETS LESS CURRENT | |||
LIABILITIES | 580,541 | 645,766 | |
NON-CURRENT LIABILITIES | |||
Loan from an intermediate holding company | 12 | 100,000 | - |
Loan from the ultimate holding company | 12 | - | 100,000 |
Loan from a fellow subsidiary | 13 | 200,000 | - |
Loan from a related party | 13 | - | 200,000 |
Total non-current liabilities | 300,000 | 300,000 | |
Net assets | 280,541 | 345,766 | |
EQUITY | |||
Equity attributable to owners of the Company | |||
Issued capital | 14 | 21,361 | 21,361 |
Reserves | 276,770 | 343,173 | |
298,131 | 364,534 | ||
Non-controlling interests | (17,590) | (18,768) | |
Total equity | 280,541 | 345,766 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the six months ended 31 January 2019
Attributable to owners of the Company
ForeignIssued capital HK$'000
Share premium account HK$'000
Contributed surplus HK$'000
Capital reserve HK$'000
currency translation Accumulatedreserve HK$'000
losses HK$'000
Total HK$'000
Non-controlling interests HK$'000
Total equity HK$'000
At 1 August 2018 (audited) Profit/(loss) for the period Other comprehensive loss for the period: Exchange differences on translation of foreign operations
21,361 -
633,661 -
95,191 -
- -
(8,903)
(376,776) (64,912)
364,534 (64,912)
(18,768) 345,766
-
511 (64,401)
-
-
-
-
(1,491)
-
(1,491)
(191) (1,682)Total comprehensive income/ (loss) for the period Capital contribution from a non-controlling shareholder
At 31 January 2019
(unaudited)
- -
- -
- -
- -
(1,491) (64,912)
(66,403)
320 (66,083)
-
-
-
858
858
21,361
633,661
95,191
-
(10,394)
(441,688)
298,131
(17,590) 280,541
At 1 August 2017 (audited) Loss for the period
Other comprehensive loss for the period: Exchange differences on translation of foreign operations
21,361 -
633,661 -
95,191 -
71,454 -
(8,631)
-
(174,727) (179,749)
638,309 (179,749)
(10,693) 627,616 (3,944) (183,693)
-
-
-
-
(2,488)
-
(2,488)
(91) (2,579)Total comprehensive loss for the period
Capital contribution from a non-controlling shareholder
- -
- -
- -
- -
(2,488) (179,749)
(182,237)
(4,035) (186,272)
-
-
-
2,362 2,362
At 31 January 2018 (unaudited)
21,361
633,661
95,191
71,454
(11,119)
(354,476)
456,072 (12,366) 443,706
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Media Asia Group Holdings Limited published this content on 14 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2019 11:23:09 UTC