Global Link Communications : Annual Results Announcement for the Year Ended 31 March 2016

bc3e1051-4bbf-4199-9e1c-334da01f1d96.pdf Global Link Communications Holdings Limited

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 8060)

ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2016 CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "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 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 of the Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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. This announcement, for which the directors (the "Directors") of Global Link Communications Holdings Limited 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 (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquires, 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.

This announcement will remain on the GEM website at www.hkgem.com on the "Latest Company Announcements" page for at least 7 days from the date of its posting. This announcement will also be posted on the website of the Company at www.glink.hk.

HIGHLIGHTS

•

Turnover of the Group for the year ended 31 March 2016 was approximately

HK$58,210,000, representing the decrease of approximately 23%, as compared with that for the year ended 31 March 2015.

•

Loss attributable to equity shareholders of the Company was approximately HK$28,788,000

for the year ended 31 March 2016 and net loss of approximately HK$42,462,000 was recorded in the Last Corresponding Period.

•

The board of the Directors does not recommend the payment of final dividend for the year

ended 31 March 2016.

The board of directors (the "Directors") of Global Link Communications Holdings Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 March 2016 together with the audited comparative figures for the year ended 31 March 2015 as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 March 2016

Note	2016 HK$'000	2015 HK$'000
Revenue	3	58,210	75,427
Cost of sales	(56,723)	(73,680)
Gross profit	1,487	1,747
Other revenue	4	499	1,324
Selling expenses	(7,314)	(9,023)
Administrative expenses	(14,325)	(12,027)
Other operating expenses	(9,117)	(23,947)
(Loss) before taxation	5	(28,770)	(41,926)
Income tax	7	(19)	(542)
(Loss) for the year	(28,789)	(42,468)
Other comprehensive (loss)/income for the year: Items that may be reclassified

subsequently to profit or loss Exchange differences on translating of

financial statements of foreign operations (1,436) 76

Other comprehensive (loss)/income for

the year, net of income tax	(1,436)	76
Total comprehensive (loss) for the year	(30,225)	(42,392)
(Loss) attributable to: Equity shareholders of the Company	(28,788)	(42,462)
Non-controlling interests	(1)	(6)
(28,789)	(42,468)
Total comprehensive (loss) attributable to: Equity shareholders of the Company	(30,224)	(42,386)
Non-controlling interests	(1)	(6)
(30,225)	(42,392)
(Loss) per share (in HK cents): - Basic and diluted	9	(2.64 cents)	(4.28 cents)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 March 2016

Non-current assets 2016 2015

Note HK$'000 HK$'000

Property, plant and equipment 1,929 2,242

Intangible assets 28,437 31,687

30,366 33,929 Current assets

Inventories 7,451 29,492

Trade and other receivables 10 40,986 43,365

Deposits and prepayments 2,584 1,155

Pledged bank deposit 1,220 -

Cash and cash equivalents 12,482 18,677

64,723 92,689 Current liabilities

Trade and other payables 11 17,910 14,917

Provision 12,721 16,757

Provision for taxation 7,473 7,734

38,104 39,408 Net current assets 26,619 53,281 Total assets less current liabilities 56,985 87,210 Non-current liability

Provision for long service payments 56 56

56 56 NET ASSETS 56,929 87,154 CAPITAL AND RESERVES

Equity attributable to equity shareholders

of the Company Share capital	10,888	10,888
Reserves	46,067	76,291
56,955		87,179
Non-controlling interests	(26)		(25)

TOTAL EQUITY 56,929 87,154