PERFECT OPTRONICS 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.
Perfect Optronics Limited圓美光電有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8311) FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2017 CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate 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. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.This announcement, for which the directors (the "Directors") of Perfect Optronics Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. 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.
HIGHLIGHTSThe Group recorded revenue of approximately HK$104.9 million for the three months ended 31 March 2017 (three months ended 31 March 2016: approximately HK$295.1 million).
Loss attributable to equity holders of the Company for the three months ended 31 March 2017 amounted to approximately HK$3.5 million (three months ended 31 March 2016: profit of approximately HK$6.1 million).
The Board does not declare an interim dividend for the three months ended 31 March 2017 (three months ended 31 March 2016: Nil).
The board of directors (the "Board") of Perfect Optronics Limited (the "Company") hereby announces the unaudited consolidated financial results of the Company and its subsidiaries (the "Group") for the three months ended 31 March 2017 together with the comparative unaudited figures for the corresponding period in 2016 as follows:
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFor the three months ended 31 March 2017
Three months ended 31 March | ||||||
2017 | 2016 | |||||
Note | HK$'000 | HK$'000 | ||||
(Unaudited) | (Unaudited) | |||||
Revenue | 3 | 104,883 | 295,059 | |||
Cost of sales | (96,542 | (274,099 | ||||
Gross profit | 8,341 | 20,960 | ||||
Other losses, net | (47 | (241 | ||||
Distribution and selling expenses | (3,367 | (4,042 | ||||
General and administrative expenses | (7,505 | (7,532 | ||||
Research and development expenses | (384 | (1,991 | ||||
Operating (loss)/profit | (2,962 | 7,154 | ||||
Finance income | 26 | 156 | ||||
Finance costs | (371 | (537 | ||||
Finance costs, net | (345 | (381 | ||||
(Loss)/profit before income tax | (3,307 | 6,773 | ||||
Income tax expense | 4 | (154 | (1,407 | |||
(Loss)/profit for the period | (3,461 | 5,366 | ||||
Other comprehensive income: | ||||||
Items that may be reclassified subsequently to income statement | ||||||
Change in value of available-for-sale financial assets | 5 | 22,495 | 42 | |||
Currency translation differences | 182 | 35 | ||||
Total comprehensive income for the period | 19,216 | 5,443 | ||||
(Loss)/profit for the period attributable to: | ||||||
Equity holders of the Company | (3,461 | 6,120 | ||||
Non-controlling interests | - | (754 | ||||
(3,461 | 5,366 | |||||
Total comprehensive income for the period attributable to: | ||||||
Equity holders of the Company | 19,216 | 6,176 | ||||
Non-controlling interests | - | (733 | ||||
19,216 | 5,443 | |||||
Basic and diluted (loss)/earnings per share | 7 | HK(0.23) cent | HK0.41 cent | |||
)
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UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFor the three months ended 31 March 2017
Attributable to equity holders of the Company Share capital Share premium Other reserves* Merger reserve Revaluation reserve Exchange reserve Retained earnings Total Non- controlling interests Total equityHK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
14,837 | 465,738 | 67,349 | (415,675) | 7,716 | (730) | 210,724 | 349,959 | - | 349,959 |
- | - | - | - | - | - | (3,461) | (3,461) | - | (3,461) |
- | - | - | - | 22,495 | - | - | 22,495 | - | 22,495 |
- | - | - | - | - | 182 | - | 182 | - | 182 |
- | - | - | - | 22,495 | 182 | - | 22,677 | - | 22,677 |
- | - | - | - | 22,495 | 182 | (3,461) | 19,216 | - | 19,216 |
14,837 | 465,738 | 67,349 | (415,675) | 30,211 | (548) | 207,263 | 369,175 | - | 369,175 |
14,837 | 465,738 | 67,349 | (415,675) | 7,091 | (2,272) | 127,413 | 264,481 | 15,248 | 279,729 |
- | - | - | - | - | - | 6,120 | 6,120 | (754) | 5,366 |
Loss for the period
Other comprehensive incomeChange in value of available-for-sale financial assets
Currency translation differences
Total other comprehensive income
Total comprehensive income Balance at 31 March 2017 Balance at 1 January 2016 Comprehensive incomeProfit for the period
Other comprehensive income Change in value of available-for-sale | ||||||||||
financial assets | - - - - 21 - - 21 | 21 42 | ||||||||
Currency translation differences | - - - - - 35 - 35 | - 35 | ||||||||
Total other comprehensive income | - | - | - | - | 21 | 35 | - | 56 | 21 | 77 |
Total comprehensive income | - | - | - | - | 21 | 35 | 6,120 | 6,176 | (733) | 5,443 |
Balance at 31 March 2016 | 14,837 | 465,738 | 67,349 | (415,675) | 7,112 | (2,237) | 133,533 | 270,657 | 14,515 | 285,172 |
* Other reserves include: (1) the difference between the share capital issued by the Company for acquisition of the subsidiaries pursuant to a reorganisation for the listing of the Company and the aggregate capital of the subsidiaries being acquired at the time of the reorganisation; and (2) the amount of shareholder's loan waived by the vendor upon completion of the common control combination.
Perfect Optronics Ltd. published this content on 10 May 2017 and is solely responsible for the information contained herein.
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