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.
LUEN WONG GROUP HOLDINGS LIMITED聯 旺 集 團 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8217)
QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017 CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK 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 Stock 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 Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.This announcement, for which the directors (the "Directors") of Luen Wong Group Holdings Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM 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 enquiries, 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.
FINANCIAL HIGHLIGHTSFor the three months ended 30 June 2017, the operating results of the Company and its subsidiaries (collectively referred to as the "Group") were as follows:
Revenue amounted to approximately HK$190,138,000 for the three months ended 30 June 2017, representing an increase of approximately HK$32,998,000 or 21.0% as compared with the corresponding period in 2016;
Gross profit for the three months ended 30 June 2017 amounted to approximately HK$17,316,000, representing an increase of approximately HK$5,339,000 or 44.6% as compared with the corresponding period in 2016;
Profit and total comprehensive income for the three months ended 30 June 2017 attributable to equity holders of the Company amounted to approximately HK$12,669,000, representing an increase of approximately HK$8,966,000 or 2.4 times as compared with the corresponding period in 2016;
Basic and diluted earnings per share for the three months ended 30 June 2017 amounted to approximately HK cent 1.02, representing an increase of approximately HK cent 0.72 or 2.4 times as compared with the corresponding period in 2016; and
The Directors do not recommend the payment of an interim dividend for the three months ended 30 June 2017.
The board (the "Board") of directors (the "Directors") is pleased to announce the unaudited condensed consolidated results of the Group for the three months ended 30 June 2017 together with the unaudited comparative figures for the corresponding period of 2016.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)For the three months ended 30 June 2017
Three months ended 30 JuneNote | 2017 HK$'000 (unaudited) | 2016 HK$'000 (unaudited) | |
Revenue | 3 | 190,138 | 157,140 |
Cost of sales | (172,822) | (145,163) | |
Gross profit | 17,316 | 11,977 | |
Other income | - | 170 | |
Administrative and other operating expenses | (1,801) | (6,706) | |
Profit from operations | 15,515 | 5,441 | |
Finance costs | (172) | (99) | |
Profit before income tax | 15,343 | 5,342 | |
Income tax expense | 4 | (2,674) | (1,639) |
Profit and total comprehensive income for the period attributable to equity holders of the Company | 12,669 | 3,703 | |
Earnings per share attributable to | HK cents | HK cents | |
equity holders of the Company Basic and diluted | 6 | 1.02 | 0.3 |
For the three months ended 30 June 2017
Total equity attributable to equity holders of the CompanyShare capital HK$'000 | Share premium HK$'000 | Available- for-sale financial assets revaluation reserve HK$'000 | Other reserve HK$'000 | Capital reserve HK$'000 | Retained earnings HK$'000 | Total equity HK$'000 |
- | - | - | 10,400 | 3,820 | 12,875 | 27,095 |
- | - | - | - | - | 3,703 | 3,703 |
2,080 | 52,000 | - | - | - | - | 54,080 |
10,400 | (10,400) | - | - | - | - | - |
- | (4,928) | - | - | - | - | (4,928) |
12,480 | 36,672 | - | 10,400 | 3,820 | 16,578 | 79,950 |
12,480 | 36,672 | (435) | 10,400 | 3,820 | 43,424 | 106,361 |
- | - | - | - | - | 12,669 | 12,669 |
12,480 | 36,672 | (435) | 10,400 | 3,820 | 56,093 | 119,030 |
Balance as at 1 April 2016
Profit and total comprehensive income for the period
Issuance of ordinary shares pursuant to the Placing
Issuance of ordinary shares pursuant to the Capitalisation Issue
Expenses incurred in connection with the issuance of ordinary shares
Balance as at 30 June 2016 (unaudited)
Balance as at 1 April 2017
Profit and total comprehensive income for the period
Balance as at 30 June 2017 (unaudited)Luen Wong Group Holdings Ltd. published this content on 10 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 August 2017 10:00:06 UTC.
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