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.
GUANGDONG ADWAY CONSTRUCTION (GROUP) HOLDINGS COMPANY LIMITED*
廣 東 愛 得 威 建 設( 集 團 )股 份 有 限 公 司
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 6189)
SUPPLEMENTAL ANNOUNCEMENT
ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2018 AND INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2019
Reference is made to the annual report of Guangdong Adway Construction (Group) Holdings Company Limited (the ''Company'') for its financial year ended 31 December 2018 (the ''2018 Annual Report'') and the Company's interim report for the six months ended 30 June 2019 (the ''2019 Interim Report''). Unless otherwise stated, capitalized terms used herein shall bear the same meanings as defined in the 2018 Annual Report and 2019 Interim Report.
The Board would like to supplement the following additional information to the 2018 Annual Report and the 2019 Interim Report:
1. USE OF PROCEEDS FROM THE INITIAL PUBLIC OFFERING COMPLETED IN NOVEMBER 2016
As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2018 Annual Report, the unutilized net proceeds amounted to approximately RMB21.15 million as of 31 December 2018.
As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2019 Interim Report, the unutilized net proceeds amounted to approximately RMB21.10 million as of 30 June 2019.
As of 30 June 2019, the Company intended to use the remaining proceeds of approximately RMB21.10 million as outlined in the table below.
- 1 -
Intended | ||||||
allocation of | Amount of | Expected time | ||||
net proceeds for | Amount utilized | unutilized | for use of | |||
each use in | up to 30 June | proceeds as of | unutilized | |||
Prospectus | 2019 | 30 June 2019 | proceeds | |||
Intended use as stated in the Prospectus | (RMB million) | (RMB million) | (RMB million) | (Note) | ||
1 | To establish an internal online supply-chain | 70.78 | 68.78 | 2.00 | Before | |
management platform | 31 | December, | ||||
2019 | ||||||
2 | To further expand the geographical coverage | 40.68 | 40.16 | 0.52 | Before | |
of our services and optimise our branch | 31 | December, | ||||
network | 2019 | |||||
3 | To improve and upgrade our internal | 31.12 | 19.50 | 11.62 | Before | |
integrated IT infrastructure for business | 31 | December, | ||||
management | 2019 | |||||
4 | To strengthen our research and development | 27.05 | 20.46 | 6.59 | Before | |
capabilities and establish a research and | 31 | December, | ||||
development laboratory | 2019 | |||||
5 | To upgrade our design system and recruit | 13.84 | 13.47 | 0.37 | Before | |
more design professionals | 31 | December, | ||||
2019 | ||||||
6 | To supplement working capital | 19.93 | 19.93 | 0.00 | Before | |
31 | December, | |||||
2019 | ||||||
Total | 203.40 | 182.30 | 21.10 | |||
Note: It will be subject to change based on the current and future development of market conditions.
2. USE OF PROCEEDS FROM H SHARES PLACING COMPLETED IN NOVEMBER 2018
As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2018 Annual Report, the unutilized net proceeds amounted to approximately RMB60.1 million as of 31 December 2018, of which approximately RMB15.0 million was planned to be used as working capital.
As mentioned in the paragraph headed ''Use of Proceeds'' in the Management Discussion and Analysis of 2019 Interim Report, as of 30 June 2019, approximately RMB60.1 million from the H shares placing have been fully utilized, of which approximately RMB15.0 million was fully utilized as working capital.
- 2 -
As of 30 June 2019, the breakdown of the use of proceeds as working capital (RMB15 million) includes (i) payment of tender bond (RMB1.00 million), (ii) procurement of project materials (excluding the procurement of raw materials for Procurement Online Platform) (RMB4.04 million), (iii) payment of performance bond (RMB1.91million), (iv) prepayment of income tax (RMB7.68 million); and (v) payment of administrative and general expenses (RMB0.37 million). Upon the completion of H shares placing, it had been expected that the proceeds from H shares placing raised for the purpose of working capital would be fully utilized by 30 June 2019. The Company fully utilized such proceeds before 30 June 2019 in accordance with the expected timeframe.
By Order of the Board
Guangdong Adway Construction (Group) Holdings Company Limited*
廣東愛得威建設(集團)股份有限公司
Mr. Ye Yujing
Chairman, Executive Director and Chief Executive Officer
11 October 2019, Shenzhen, the PRC
As at the date of this announcement, the Board of the Company comprises Mr. Ye Yujing, Mr. Liu Yilun, Ms. Ye Xiujin, Mr. Ye Guofeng, and Mr. Ye Niangting, as Executive Directors; Ms. Li Yuanfei as Non-Executive Director; and Mr. Cheung Wai Yeung Michael, Mr. Lin Zhiyang and Ms. Zhai Xin, as Independent Non-executive Directors.
- For identification purpose only
- 3 -
Attachments
- Original document
- Permalink
Disclaimer
Guangdong Adway Construction Group Holdings Co. Ltd. published this content on 11 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2019 10:25:09 UTC