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 HIGHLIGHTS

For 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.

FIRST QUARTERLY RESULTS

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 June

Note

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

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

For the three months ended 30 June 2017

Total equity attributable to equity holders of the Company

Share 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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