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Royal China International Holdings Limited皇中國際控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1683) ANNOUNCEMENT OF SECOND INTERIM RESULTS FOR THE NINE MONTHS ENDED 30 JUNE 2017The board (the "Board") of directors (the "Directors") of Royal China International Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively referred hereafter as the "Group") for the nine months ended 30 June 2017, together with the comparative unaudited figures for the nine months ended 30 June 2016 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the nine months ended 30 June 2017
Nine months ended 30 JuneNotes | 2017 HK$'000 Unaudited | 2016 HK$'000 Unaudited | |
Revenue | 4 | 74,412 | 94,623 |
Cost of sales | (46,002) | (52,894) | |
Gross profit | 28,410 | 41,729 | |
Other revenue and other gains | 5 | 969 | 1,294 |
Other operating expenses | (1,487) | (740) | |
Administrative expenses | (22,122) | (14,234) | |
Profit before taxation | 6 | 5,770 | 28,049 |
Taxation | 7 | (2,574) | (4,460) |
Profit and total comprehensive income for the period | 3,196 | 23,589 |
Profit and total comprehensive income for the
period attributable to owners of the Company 3,196 23,589
Earnings per share:
Basic and diluted (HK cents) 9 0.6 4.7
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017
Notes | As at 30 June 2017 HK$'000 Unaudited | As at 30 September 2016 HK$'000 Audited | |
Non-current asset Property, plant and equipment | 6,184 | 3,878 | |
Current assets Trade receivables | 10 | 13,261 | 10,276 |
Amounts due from customers for contract work | 11 | - | 919 |
Deposits, prepayments and other receivables | 6,620 | 3,765 | |
Cash and bank balances | 156,189 | 154,235 | |
176,070 | 169,195 | ||
Current liabilities Trade payables | 12 | 5,861 | 6,629 |
Amounts due to customers for contract work | 11 | 13,483 | 726 |
Accrued expenses and other payables | 2,355 | 1,448 | |
Income tax payable | 746 | 7,657 | |
22,445 | 16,460 | ||
Net current assets | 153,625 | 152,735 | |
Total assets less current liabilities | 159,809 | 156,613 | |
Net assets | 159,809 | 156,613 | |
Capital and reserves Share capital | 5,000 | 5,000 | |
Reserves | 154,809 | 151,613 | |
Total equity | 159,809 | 156,613 |
For the nine months ended 30 June 2017
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GENERAL INFORMATION
Royal China International Holdings Limited (formerly known as LC Group Holdings Limited) (the "Company") was incorporated in Cayman Islands on 19 January 2015 as an exempted company with limited liability under the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The Company's registered office is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands. The principal place of business of the Company is located at Suites 2608-11, 26th Floor, Champion Tower, Three Garden Road, Central, Hong Kong.
The Company had its primary listing on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 8 September 2015.
The Company is an investment company. The Company and its subsidiaries (collectively referred hereafter as the "Group") are principally engaged in one-stop integrated interior design solutions including design, fit out and decoration as well as overall project management.
The condensed consolidated financial statements for the nine months ended 30 June 2017 are presented in Hong Kong dollars ("HK$"), which is also the functional currency of the Company. All values are rounded to the nearest thousand except when otherwise stated.
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BASIS OF PREPARATION
The condensed consolidated financial statements for the nine months ended 30 June 2017 have been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") as well as with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").
The condensed consolidated financial statements for the nine months ended 30 June 2017 do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual financial statements for the year ended 30 September 2016.
- PRINCIPAL ACCOUNTING POLICIES
The condensed consolidated financial statements for the nine months ended 30 June 2017 have been prepared on the historical cost basis. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.
Royal China International Holdings Limited published this content on 18 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 August 2017 02:52:05 UTC.
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