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 Bermuda with limited liability)

(Stock Code: 00479)

    1. QUARTERLY UPDATE ON STATUS OF RESUMPTION;
  2. FURTHER DELAY IN PUBLICATION OF ANNUAL RESULTS;
  3. FURTHER DELAY IN PUBLICATION OF INTERIM RESULTS;
    1. FURTHER POSTPONEMENT OF THE

ANNUAL GENERAL MEETING AND

(5) CONTINUED SUSPENSION OF TRADING

This announcement is made by the board of directors of CIL Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.24A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "HKEX") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated (i) 5 October 2020 in relation to the suspension of trading in the shares of the Company; (ii) 19 February 2021 in relation to further delay in publication of the annual results of the Company for the year ended 30 June 2020 and delay in the interim results of the Company for the six months ended 31 December 2020;

  1. 30 December 2020 in relation to the resumption guidance for the Company given by the HKEX; (iv) 4 January 2021 in relation to the quarterly update on status of resumption; and (v) 1 February 2021 in relation to the update on listing status. Unless the context requires otherwise, capitalized terms used herein shall bear the same meanings as defined in these announcements.

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BUSINESS OPERATIONS OF THE GROUP

The Group is engaged principally in the business of (i) distribution and trading of server storage, multi-media and communication products, (ii) distribution and trading of rice cookers and household electrical appliances, (iii) investment in securities and (iv) trading of building materials.

The Group will continue to review its existing businesses from time to time and strive to improve the business operation and financial position of the Group. It has been the business strategy of the Group to proactively seek for potential business and investment opportunities with an aim to broaden its source of income.

THE RESUMPTION PLAN

As at the date of this announcement, the Group continues to expand the product range, develop and explore products with higher profit margins, extend its distribution channels and customer base for its trading business. Besides, the Company has been in discussions with various parties to explore and consider various options available to the Company in formulating a viable resumption proposal to address the Resumption Guidance. Further announcements will be made by the Company to update its shareholders and the public on, among others, the progress of the resumption plan of the Company as and when appropriate.

FURTHER DELAY IN PUBLICATION OF ANNUAL RESULTS FOR THE YEAR ENDED 30 JUNE 2020 AND THE DESPATCH OF ANNUAL REPORT

As at the date of this announcement, the audit work for the financial year ended 30 June 2020 has not yet completed. The auditors of the Group are still exploring alternative procedures with the Company to carry out the necessary field work in China to assess the recoverability of material loan receivables which they are unable to do so due to the COVID-19 travel restrictions and mandatory quarantine requirements in Hong Kong and China. The Company now assesses that publication of the Annual Results will be postponed to mid-May 2021 and dispatch of annual report will be postponed to mid-June 2021.

FURTHER DELAY IN PUBLICATION OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2020 AND THE DESPATCH OF INTERIM REPORT

In view of the above, the Company is also unable to publish its interim results for the six months ended 31 December 2020 ("Interim Results") by the end of February 2021. The Company expects to publish the Interim Results by mid-May 2021 and dispatch the relevant interim report by mid-June 2021.

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The Company will publish further announcement to inform the shareholders of the Company of the date of the Board meeting to approve the Annual Results and Interim Results and any other update information as and when appropriate.

FURTHER POSTPONEMENT OF THE ANNUAL GENERAL MEETING

As a result of the delay in publication of the Annual Results and dispatch of the annual report, it is expected that the convening of the annual general meeting of the Company will be further postponed to mid-July 2021.

CONTINUED SUSPENSION OF TRADING

Trading in the Shares on the HKEX has been suspended with effect from 9:00 a.m. on 5 October 2020, and will remain suspended pending the Company's compliance with the Resumption Guidance, including publication of the Annual Results and the Interim Results.

Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the Shares.

By Order of the Board

CIL Holdings Limited

Ke Jun Xiang

Chairman

Hong Kong, 31 March 2021

As at the date of this announcement, the Board comprises 4 executive directors, namely Mr. Ke Jun Xiang (Chairman and Chief Executive Officer), Mr. Wilson Wong (Deputy Chairman), Ms. Lo Yuen Chung and Mr. Fu Daoding; 2 non-executive directors, namely Mr. Chow Yeung Tuen, Richard and Mr. Li Chung Kai, Philip; and 3 independent non-executive directors, namely Mr. Chan Siu Kay, Mr. Choi Chin Yu and Dr. Chow Ho Wan Owen.

  • For identification purpose only

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CIL Holdings Limited published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 08:33:03 UTC.