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

Attachments

  • Original document
  • Permalink

Disclaimer

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