Samson Paper : Interim Report Summary 2021/2022

The board of directors (the "Board") of Samson Paper Holdings Limited (the "Company") hereby announces the unaudited condensed consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 September 2021 as follows.

CONDENSEDCONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the six months ended 30 September 2021

		Unaudited
		Six months ended 30 September
		2021			2020
	Note	HK$'000	HK$'000
					(Re-presented)
Continuing operations
Revenue	5	269,881			2,129,610
Cost of sales		(246,430)		(2,168,829)
Gross profit/(loss)		23,451			(39,219)
Other gains and income, net		6,542			20,776
Gain on re-consolidation of a deconsolidated subsidiary	6	451,012			-
Selling expenses		(1,447)		(103,324)
Administrative expenses		(39,176)		(178,384)
Impairment losses of financial assets, net		(18,119)		(1,156,807)
Impairment losses of property, plant and equipment		-	(760,249)
Other operating expenses, net		(6,521)		(20,551)
Recognition of financial guarantee liabilities		(15,722)		(2,211,472)
(Loss)/gain on deconsolidation/disposal/deregistration of subsidiaries		(177,798)		1,807,490
Profit/(loss) from operations		222,222			(2,641,740)
Finance costs		(68)		(34,936)
Profit/(loss) before tax		222,154			(2,676,676)
Income tax credit/(expense)	7	8,970			(3,450)
Profit/(loss) for the period from continuing operations	8	231,124			(2,680,126)
Discontinued operations	9
Loss for the period from discontinued operations		(66,008)		(778,092)
Profit/(loss) for the period		165,116			(3,458,218)

Interim Report 21/22

1

CONDENSEDCONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the six months ended 30 September 2021

		Unaudited
		Six months ended 30 September
		2021			2020
	Note	HK$'000	HK$'000
						(Re-presented)
Attributable to:
Owners of the Company		165,116			(3,219,683)
Non-controlling interests		-	(238,535)
		165,116			(3,458,218)
Earnings/(loss) per share	11
From continuing and discontinued operations
Basic		HK14.5 cents	HK(282.2) cents
Diluted		HK13.0 cents	HK(282.2) cents
From continuing operations
Basic		HK20.3 cents	HK(214.0) cents
Diluted		HK18.2 cents	HK(214.0) cents

2 Samson Paper Holdings Limited

CONDENSEDCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended 30 September 2021

	Unaudited
	Six months ended 30 September
	2021			2020
	HK$'000	HK$'000
Profit/(loss) for the period	165,116			(3,458,218)
Other comprehensive income, net of tax:
Items that may be reclassified to profit or loss:
Exchange differences on translating foreign operations	141,212			157,639
Exchange reserves reclassified to profit or loss on deconsolidation,
disposal and deregistration of subsidiaries	(96,505)		8,880
Other comprehensive income for the period, net of tax	44,707			166,519
Total comprehensive income for the period	209,823			(3,291,699)
Attributable to:
Owners of the Company	209,823			(3,052,461)
Non-controlling interests	-	(239,238)
	209,823			(3,291,699)

Interim Report 21/22

3

CONDENSEDCONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 September 2021

		Unaudited	Audited
		30 September	31 March
		2021		2021
	Note	HK$'000	HK$'000
Non-current assets
Property, plant and equipment	12	900,500		124,115
Investment properties		-	17,321
Right-of-use assets	13	222,828		34,291
Other intangible assets		206		-
Financial assets at fair value through other comprehensive income
("FVTOCI")		1,831		1,831
Non-current deposits and prepayments	14	-	1,854
Deferred tax assets		2,440		5,399
		1,127,805		184,811
Current assets
Properties under development		-	227,384
Inventories		202,067		11,023
Accounts and other receivables	14	549,979		452,482
Taxation recoverable		7,628		26,598
Bank and cash balances		187,894		195,066
		947,568		912,553
Total assets		2,075,373		1,097,364
Current liabilities
Accounts and other payables	15	605,833		513,293
Contract liabilities		17,606		-
Taxation payable		263		12,565
Borrowings	16	706,069		404,121
Lease liabilities		615		3,728
Financial guarantee liabilities		2,299,858		2,284,136
		3,630,244		3,217,843
Net current liabilities		(2,682,676)	(2,305,290)
Total assets less current liabilities		(1,554,871)	(2,120,479)

4 Samson Paper Holdings Limited