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.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 666)
ANNOUNCEMENT OF 2018 AUDITED RESULTS
RESULTS
The board of directors (the "Board") of SHK Hong Kong Industries Limited (the "Company") announces that the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31st December, 2018 are as follows:
CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the year ended 31st December, 2018
2018 | 2017 | ||
Notes | HK$'000 | HK$'000 | |
Revenue | 3 | 28,128 | 23,756 |
Other net (loss)/income | 4 | (36,493) | 175,889 |
Administrative and other operating expenses | 5 | (28,434) | (31,998) |
Share of loss of associates | (104) | (975) | |
(Loss)/profit before income tax | 5 | (36,903) | 166,672 |
Income tax expense | 6 | - | - |
(Loss)/profit for the year | (36,903) | 166,672 | |
(Loss)/profit for the year attributable to: | |||
Owners of the Company | (43,567) | 166,667 | |
Non-controlling interests | 6,664 | 5 | |
(36,903) | 166,672 | ||
(Loss)/earnings per share attributable to | |||
the owners of the Company (HK cents) | 8 | ||
- Basic | (1.06) | 4.05 | |
- Diluted | (1.06) | 4.05 | |
Turnover - gross proceeds and revenue | 3 | 731,400 | 722,628 |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31st December, 2018
2018 | 2017 | |
HK$'000 | HK$'000 | |
(Loss)/profit for the year | (36,903) | 166,672 |
Other comprehensive (expenses)/income | ||
Items that may be reclassified subsequently to profit or loss: | ||
Change in fair value of financial assets at fair value | ||
through other comprehensive income ("FVOCI") | (2,060) | - |
Reclassification adjustment for realisation upon | ||
redemption of financial assets at FVOCI | (2,994) | - |
Reclassification adjustment for realisation upon | ||
disposal of an associate | (19) | - |
Change in fair value of available-for-sale financial assets | - | 18,431 |
Reclassification adjustment for realisation upon | ||
redemption of available-for-sale financial assets | - | 2,952 |
Share of other comprehensive income of an associate | - | 228 |
Other comprehensive (expenses)/income for the year, net of tax | (5,073) | 21,611 |
Total comprehensive (expenses)/income for the year | (41,976) | 188,283 |
Total comprehensive (expenses)/income | ||
for the year attributable to: | ||
Owners of the Company | (48,640) | 188,179 |
Non-controlling interests | 6,664 | 104 |
(41,976) | 188,283 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31st December, 2018
2018 | 2017 | ||
Notes | HK$'000 | HK$'000 | |
ASSETS AND LIABILITIES | |||
Non-current assets | |||
Interests in associates | 808 | 3,133 | |
Amount due from an associate | 9,736 | 9,564 | |
Financial assets at FVOCI | 9 | 102,869 | - |
Financial assets at fair value through profit or loss | |||
("FVPL") | 10 | 157,555 | - |
Available-for-sale financial assets | 11 | - | 217,551 |
270,968 | 230,248 | ||
Current assets | |||
Available-for-sale financial assets | 11 | - | 86,564 |
Other receivables and prepayment | 489 | 162 | |
Financial assets at FVPL | 10 | 464,035 | 584,734 |
Cash and cash equivalents | 387,053 | 464,208 | |
851,577 | 1,135,668 | ||
Current liabilities | |||
Trade and other payables and accrued expenses | 12 | 19,334 | 9,715 |
Amount due to a holding company | 341 | 341 | |
Amount due to a fellow subsidiary | 4,575 | 7,462 | |
Financial liabilities at FVPL | 13 | - | 4,921 |
24,250 | 22,439 | ||
Net current assets | 827,327 | 1,113,229 | |
Total assets less current liabilities | 1,098,295 | 1,343,477 | |
Net assets | 1,098,295 | 1,343,477 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Cont'd)
As at 31st December, 2018
2018 | 2017 | ||
Notes | HK$'000 | HK$'000 | |
EQUITY | |||
Equity attributable to the owners of the Company | |||
Share capital | 918,978 | 918,978 | |
Reserves | 171,635 | 423,481 | |
1,090,613 | 1,342,459 | ||
Non-controlling interests | 7,682 | 1,018 | |
Total equity | 1,098,295 | 1,343,477 | |
Net asset value per share attributable to | |||
the owners of the Company (HK$) | 14 | 0.27 | 0.33 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the year ended 31st December, 2018
Non- | |||||||||
controlling | Total | ||||||||
interests | equity | ||||||||
Capital | Investment | ||||||||
Share | contribution | revaluation | Translation | Retained | Dividend | ||||
capital | reserve | reserve | reserve | earnings | reserve | Total | |||
HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | |
At 1st January, 2017 | 918,978 | 367 | 23,618 | (110) | 211,427 | - | 1,154,280 | 914 | 1,155,194 |
Profit for the year | - | - | - | - | 166,667 | - | 166,667 | 5 | 166,672 |
Other comprehensive income | - | - | 21,383 | 129 | - | - | 21,512 | 99 | 21,611 |
Total comprehensive income for the year | - | - | 21,383 | 129 | 166,667 | - | 188,179 | 104 | 188,283 |
Interim dividend declared | - | - | - | - | (205,585) | 205,585 | - | - | - |
At 31st December, 2017 and 1st January, 2018 | 918,978 | 367# | 45,001# | 19# | 172,509# | 205,585# | 1,342,459 | 1,018 | 1,343,477 |
Impact on initial application HKFRS 9 | - | - | (41,489) | - | 43,868 | - | 2,379 | - | 2,379 |
Adjusted balance at 1st January, 2018 | 918,978 | 367 | 3,512 | 19 | 216,377 | 205,585 | 1,344,838 | 1,018 | 1,345,856 |
Loss for the year | - | - | - | - | (43,567) | - | (43,567) | 6,664 | (36,903) |
Other comprehensive expenses | - | - | (5,054) | (19) | - | - | (5,073) | - | (5,073) |
Total comprehensive (expenses)/income | |||||||||
for the year | - | - | (5,054) | (19) | (43,567) | - | (48,640) | 6,664 | (41,976) |
Interim dividend paid | - | - | - | - | - | (205,585) | (205,585) | - | (205,585) |
At 31st December, 2018 | 918,978 | 367# | (1,542)# | - | 172,810# | - | 1,090,613 | 7,682 | 1,098,295 |
Equity attributable to the owners of the Company
#
The aggregate amount of these balances of HK$171,635,000 (2017: HK$423,481,000) represents the reserves in the consolidated statement of financial position.
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SHK Hong Kong Industries Limited published this content on 20 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 March 2019 14:34:02 UTC