Goldlion : ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31ST DECEMBER 2018

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.

GOLDLION HOLDINGS LIMITED 金利來集團有限公司

(Incorporated in Hong Kong under the Hong Kong Companies Ordinance)

(Stock code: 533)

ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED 31ST DECEMBER 2018

RESULTS

The Board of Directors (the "Board") is pleased to announce the consolidated results of Goldlion Holdings Limited (the "Company") and its subsidiaries (together the "Group") for the year ended 31st December 2018 together with the comparative figures for the previous year as follows:

Consolidated Income Statement

For the year ended 31st December 2018

2018	2017
Note	HK$'000	HK$'000
Turnover	3	1,681,364	1,602,786
Cost of sales	5	(703,938)	(696,946)
Gross profit	977,426	905,840
Other gains	4	91,921	91,722
Selling and marketing costs	5	(432,179)	(438,074)
Administrative expenses	5	(203,437)	(171,567)
Operating profit	433,731	387,921
Interest income	25,511	20,253
Profit before income tax	459,242	408,174
Income tax expense	6	(82,998)	(85,899)
Profit for the year attributable to owners of the Company	376,244	322,275
HK cents	HK cents
Earnings per share for profit attributable to owners of the
Company during the year
- Basic and diluted	7	38.31	32.81

Consolidated Statement of Comprehensive Income For the year ended 31st December 2018

2018

HK$'000

2017

HK$'000

Profit for the year

Other comprehensive income

Items that will not be reclassified subsequently to profit or loss

Revaluation of investment property upon reclassification from land use rights, and property, plant and equipment

Change in fair value of financial assets at fair value through other comprehensive income

Income tax relating to these items

Item that may be reclassified subsequently to profit or loss

Exchange differences on translation of financial statements of overseas subsidiaries

Other comprehensive income for the year

376,244 322,275

108,219 1,730

1,113 (21,752)

(85,678) 120,037

- (434)

1,902 121,333

Total comprehensive income for the year attributable to owners of the Company

378,146 443,608

Consolidated Balance Sheet As at 31st December 2018

ASSETS Non-current assets

Land use rights

Property, plant and equipment Investment properties Available-for-sale financial assets Financial assets at fair value through other comprehensive income

Deferred income tax assets

Current assets

Property under development held for sale Inventories

Trade receivables

Prepayments, deposits and other receivables Contract assets

Tax recoverable Bank deposits

Cash and cash equivalents

As at 31.12.2018

Note

As at 31.12.2017

HK$'000

HK$'000

46,698 44,607

160,269 177,320

2,847,372 - 6,813 51,282 3,112,434

2,650,249 5,900

- 70,751 2,948,827

174,178 138,301

221,155 261,407

9

122,688 102,839

40,662 43,398

65,037 160

- 1,190

• 906,305 1,028,966

423,632

283,292

• 1,953,817 1,859,393

• Total assets 5,066,251 4,808,220

  EQUITY

  Capital and reserves attributable to owners of the

  Company

• Share capital 1,101,358 1,101,358

• Reserves 3,037,321 2,845,776

• Total equity 4,138,679 3,947,134

LIABILITIES

Non-current liabilities

Other payables and accruals Deferred income tax liabilities

Current liabilities

Trade payables

Other payables and accruals Contract liabilities

Current income tax liabilities

Total liabilities

Total equity and liabilities

80

421,765 418,668

869

421,845 419,537

10

53,854 73,924

176,206 339,423

249,913

25,754 28,202

-

505,727 441,549

927,572 861,086

5,066,251

4,808,220

Notes:

1.

Principal accounting policies

The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRS") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") and the disclosure requirements of the Hong Kong Companies Ordinance (Cap. 622). They have been prepared under the historical cost convention, as modified by the revaluation of investment properties and financial assets at fair value through other comprehensive income.

The preparation of financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies.

The financial information relating to the years ended 31st December 2018 and 2017 included in this preliminary announcement of annual results of 2018 does not constitute the Company's statutory annual consolidated financial statements for those years but is derived from those financial statements. Further information relating to these statutory financial statements required to be disclosed in accordance with section 436 of the Hong Kong Companies Ordinance is as follows:

The Company has delivered the financial statements for the year ended 31st December 2017 to the Registrar of Companies as required by section 662(3) of, and Part 3 of Schedule 6 to, the Hong Kong Companies Ordinance and will deliver the financial statements for the year ended 31st December 2018 in due course.

The Company's auditor has reported on the financial statements of the Group for both years. The auditor's reports were unqualified; did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its reports; and did not contain a statement under sections 406(2), 407(2) or (3) of the Hong Kong Companies Ordinance.

(a)New standards, new interpretation and amended standards adopted by the Group

The following new standards, new interpretation and amended standards have been adopted by the Group for the first time for the financial year beginning on or after 1st January 2018:

HKAS 40 (Amendment)	Transfers of investment property
HKFRS 1 and HKAS 28	Annual improvements 2014-2016 cycle
(Amendments)
HKFRS 2 (Amendment)	Classification and measurement of share-based
payment transactions
HKFRS 4 (Amendment)	Applying HKFRS 9 "Financial instruments" with
HKFRS 4 "Insurance contracts"
HKFRS 9	Financial instruments
HKFRS 15	Revenue from contracts with customers
HKFRS 15 (Amendment)	Clarifications to HKFRS 15
HK (IFRIC) 22	Foreign currency transactions and advance consideration
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1.

Principal accounting policies (continued)

• (a) New standards, new interpretation and amended standards adopted by the Group (continued)

  The impact of the adoption of these standards are disclosed in note 2 below. The other standards did not have any impact on the Group's accounting policies and did not require retrospective adjustments.

• (b) The following new standards, new interpretation and amended standards have been issued but are not effective for the financial year beginning on 1st January 2018 and have not been early adopted by the Group

Effective for accounting periods beginning on or after

HKAS 19 (Amendment)	Plan amendment, curtailment or	1st January 2019
settlement
HKAS 28 (Amendment)	Long-term interests in an associate	1st January 2019
and joint ventures
HKFRS 9 (Amendment)	Prepayment features with negative	1st January 2019
compensation
HKFRS 10 and HKAS 28	Sale or contribution of assets	Not yet established
(Amendments)	between an investor and its	by HKICPA
associate or joint venture
HKFRS 16	Leases	1st January 2019(i)
HKFRS 17	Insurance contracts	1st January 2021
HKFRSs (Amendments)	Annual improvements 2015-2017	1st January 2019
cycle
HK (IFRIC) 23	Uncertainty over income tax	1st January 2019
treatments
Conceptual Framework for	Revised conceptual framework for	1st January 2020
Financial Reporting 2018	financial reporting
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