Luen Wong : QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017

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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)