DJ HK Bourse: Results Announcement From Addchance Holdings Ltd.
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https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0802/2020080200083.pdf ANNOUNCEMENT OF UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019
UNAUDITED ANNUAL RESULTS
For the reasons explained below in the paragraph of "Review of Financial Information", the audit
process of the annual results of GTI Holdings Limited (the "Company") and its subsidiaries (the
"Group") for the year ended 31 December 2019 has not been completed and the Company is unable to
publish an annual results announcement that has been agreed with the Company's auditor by 31 March
2020 in accordance with Rule 13.49 of the Rules Governing the Listing of Securities (the "Listing
Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
In the meantime, the board of directors (the "Board") of the Company announces that the unaudited
consolidated results of the Group for the year ended 31 December 2019 with comparative figures for the
previous corresponding year are as follows: 1
UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
For the year ended 31 December 2019 2019 2018 HK$'000 Notes HK$'000 (unaudited) (audited) 704,356 4
Revenue 611,052 (735,299)
Cost of sales (618,282)
Gross loss (30,943) (7,230) 647
Interest revenue 63 15,548 5
Other income 7,917 201
Share of results of associates - (357,928) 6
Other gains and losses (33,799) (15,298)
Selling and distribution costs (28,518) (92,997)
Administrative expenses (126,066) (123,440)
Finance costs (87,049)
Loss before tax (604,210) (274,682) (3,666) 7
Income tax expense (742)
Loss for the year (607,876) 8 (275,424)
Other comprehensive income/(loss):
Items that will not be reclassified to profit or loss:
Fair value changes of equity investment at fair value (5,412) through other comprehensive income 1,275
Items that may be reclassified to profit or loss:
Exchange differences arising on translation of foreign (198) operations (5,837)
Share of foreign currency translation reserve of an (393) associate -
Reclassification of translation reserve to profit or loss (9,776) upon disposal of a subsidiary/subsidiaries 7,271 (10,367) 1,434
Total comprehensive loss for the year (623,655) (272,715) 2 2019 2018 HK$'000 Notes HK$'000 (unaudited) (audited)
Loss for the year attributable to: (560,729) Owners of the Company (275,391) (47,147) Non-controlling interests (33) (607,876) (275,424)
Total comprehensive loss for the year attributable to: (576,362) Owners of the Company (272,682) (47,293) Non-controlling interests (33) (623,655) (272,715)
Loss per share 10 (9.00)
Basic and diluted (HK cents) (5.09) 3
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 31 December 2019 2019 2018 HK$'000 Notes HK$'000 (unaudited) (audited)
Non-current assets 108,983
Property, plant and equipment 186,351 -
Prepaid lease payments 23,005 13,031
Right-of-use assets -
Deposit paid for acquisition of land use right and 17,802 property, plant and equipment 18,717 6
Goodwill 34,317 18,353
Intangible assets 26,310 17,783
Interest in associates 173,643
Equity investments at fair value through other - comprehensive income 5,414 37,520
Derivative financial instruments 1,412 -
Deferred tax assets 3,439 5,000 11
Trade and other receivables, deposits and prepayments - 218,478 472,608
Current assets -
Prepaid lease payments 586 -
Investment at fair value through profit or loss 2,199 3,408
(MORE TO FOLLOW) Dow Jones Newswires
August 02, 2020 18:01 ET (22:01 GMT)
DJ HK Bourse: Results Announcement From Addchance Holdings Ltd. -2-
Inventories 26,428 196,653 11
Trade and other receivables, deposits and prepayments 254,570 -
Tax recoverable 1,659 5,511
Bank balances and cash 15,591 205,572 301,033 6,783
Assets classified as held for sale 20,823 212,355 321,856 4 2019 2018 HK$'000 Notes HK$'000 (unaudited) (audited)
Current liabilities 244,724 12
Trade and other payables 166,585 533
Contract liabilities 683 9,526
Tax liabilities 7,998 446,127
Bank and other borrowings - due within one year 422,581 -
Bank overdrafts 846 2,618
Lease liabilities - -
Obligation under a finance lease 139 8,258
Amount due to a related party 2,944 711,786 601,776 23,456
Liabilities associated with assets classified as held for sale 20,110 735,242 621,886
Net current liabilities (522,887) (300,030)
TOTAL ASSETS LESS CURRENT LIABILITIES (304,409) 172,578
Non-current liabilities 153,128
Bank and other borrowings - due after one year 96,982 1,285
Lease liabilities - -
Obligation under a finance lease 378 8,756
Deferred tax liabilities 10,745 163,169 108,105
NET (LIABILITIES)/ASSETS (467,578) 64,473
Capital and reserves 62,988
Share capital 58,994 (544,643)
Share premium and reserves (20,868)
Equity attributable to owners of the Company (481,655) 38,126 14,077
Non-controlling interests 26,347
TOTAL (DEFICIT)/EQUITY (467,578) 64,473 5
NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2019
1. GENERAL INFORMATION GTI Holdings Limited (the " Company ") was incorporated in Cayman Islands under the Companies Law as an exempted company with limited liability on 9 June, 2004 and its shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The address of its registered office and principal place of business are Cricket Square Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands and Unit B, 13/ F, Winsan Tower, 98 Thomson Road, Wanchai, Hong Kong, respectively. The unaudited consolidated financial statements of the Company and its subsidiaries (hereinafter collectively referred to as the "Group") are presented in Hong Kong dollars ("HK$") which is the same as the functional currency of the Company and all values are rounded to the nearest thousand unless otherwise stated.
2. BASIS OF PREPARATION Appointment of provisional liquidators On 26 May 2020, the Company filed a winding up petition (the "Petition") together with an application for the appointment of joint provisional liquidators (the "JPLs") of the Company with the Grand Court of the Cayman Islands. On 28 May 2020 (Cayman time), upon the hearing at the Cayman Court of the JPL Application, an order (the "Order") in favour of the Company was granted and Mr. Osman Mohammed Arab and Mr. Lai Wing Lun of RSM Corporate Advisory (Hong Kong) Limited, and Ms. Claire Marie Loebell of R&H Restructuring (Cayman) Ltd. were appointed as the JPLs (for restructuring purposes) on a light touch approach for restructuring purposes. The Order provides that for so long as JPLs are appointed to the Company, no suit, action or other proceeding, including criminal proceedings, shall be proceeded with or commenced against the Company except with the leave of the Cayman Court and subject to such terms as the Cayman Court may impose. The Order also provides that, for the avoidance of any doubt, no payment or disposition of the Company's property or any transfer of shares or any alteration in the status of the Company's members shall be made or effected without the direct or indirect approval of the JPLs but no such payment or other disposition or transfer of shares or alteration in the status of the Company's members made or effected by or with the authority or approval of the JPLs in carrying out their duties and functions and in the exercise of their powers under the Order shall be avoided by virtue of the provisions of section 99 of the Companies Law of the Cayman Islands. Going concern basis The Group incurred a loss attributable to owners of the Company of approximately HK$560,729,000 for the year ended 31 December 2019 and as at 31 December 2019, the Group had net current liabilities and net liabilities of approximately HK$522,887,000 and approximately HK$467,578,000, respectively. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. Therefore, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. 6 The directors of the Company are of the opinion that the Group will have sufficient working capital to meet its financial liabilities as and when they fall due given that (i) the Group will be able to successfully complete the debt restructuring with the creditors; (ii) the Group is actively seeking to raise fund to meet a level suffucuent to finance the working capital requirements of the Group; (iii) the Group is actively implementing cost-control and cost saving measures to improve operating cash flows and its financial position and the directors of the Company believe that the performance of the Group will be significantly improved in the forthcoming year. Accordingly, the directors of the Company are of the opinion that it is appropriate to prepare the consolidated financial statements on the going concern basis. Should the Group be unable to continue as a going concern, adjustments would
(MORE TO FOLLOW) Dow Jones Newswires
August 02, 2020 18:01 ET (22:01 GMT)
DJ香港交易所:Addance Holdings Ltd公布业绩。
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Https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0802/2020080200083.pdf公布截至2019年12月31日的未经审计年度业绩
未经审计的年度业绩
基于下文“财务信息审查”一段中解释的原因,审计
GTI Holdings Limited(“本公司”)及其附属公司(“本公司”)的年度业绩过程
“集团”)截至2019年12月31日止年度尚未完成,本公司无法
在3月31日之前发布与公司审计师达成一致的年度业绩公告
2020年根据《证券上市规则》(以下简称《上市规则》)第13.49条的规定
香港联合交易所有限公司(“联交所”)的“规则”)。
同时,本公司董事会(“董事会”)宣布未经审计的
本集团截至2019年12月31日止年度的综合业绩及
上一对应年度如下:1
未经审计的综合损益表及其他
综合收益
截至2019年12月31日止年度2019年‘000港元债券(未经审核)(经审核)704,356 4
收入611,052(735,299)
销售成本(618,282)
总亏损(30,943)(7,230)647
利息收入63 15,548 5
其他收入7917 201
联营公司业绩份额-(357,928)6
其他损益(33,799)(15,298)
销售和分销成本(28,518)(92,997)
行政费用(126,066)(123,440)
融资成本(87,049)
税前亏损(604,210)(274,682)(3,666)7
所得税支出(742)
全年亏损(607,876)8(275,424)
其他综合收益/(亏损):
不会重新分类为损益的项目:
公允价值股权投资(5,412)通过其他综合收益的公允价值变动1,275
可重新分类为损益的项目:
对外业务翻译汇兑差额(198)(5837)
(393)联营公司的外币折算储备份额-
出售子公司后将换算准备金重新分类为损益(9776)7271(10367)1434
年内全面亏损总额(623,655)(272,715)2 2019年2019港元‘000港元票据’000港元(未经审核)(经审核)
本年度亏损可归因于:(560,729)公司所有者(275,391)(47,147)非控股权益(33)(607,876)(275,424)
本年度可归因于:(576,362)公司所有者(272,682)(47,293)非控股权益(33)(623,655)(272,715)的综合亏损总额
每股亏损10(9.00)
基本及摊薄(港仙)(5.09)3
未经审计的综合财务状况表
于2019年12月31日,2018年港元‘000元债券(未经审核)(经审核)
非流动资产108,983
物业、厂房及设备186,351-
预付租金23,005 13,031
使用权资产-
为取得土地使用权和17,802件财产、厂房和设备支付的押金18,7176
商誉34,317 18,353
无形资产26,310 17,783
联营公司权益173,643
通过其他方式按公允价值进行的股权投资--综合收益5,414 37,520
衍生金融工具1,412-
递延税项资产3,439,000 11
贸易和其他应收款、押金和预付款--218,478,472,608
流动资产-
预付租金586-
通过损益按公允价值进行投资2,199,408
(更多后续报道)道琼斯通讯社
2020年8月2日美国东部时间18:01(格林尼治标准时间22:01)
DJ香港交易所:Addance Holdings Ltd.公布业绩-2-
库存26,428 196,653 11
贸易和其他应收款、押金和预付款254,570-
可追讨税款1,659 5,511
银行余额和现金15,591 205,572 301,033 6,783
分类为持有待售资产20,823 212,355 321,856 4 2019 2019港元‘000港元票据’000港元(未经审核)(经审核)
流动负债244,724 12
贸易和其他应付款166,585 533
合同负债683926
纳税义务7,998,446,127
银行和其他借款-一年内到期422,581-
银行透支846 2618
租赁负债--
融资租赁项下的债务139 8,258
应付关联方的金额2,944 711,786 601,776 23,456
与归类为持有待售资产的负债20,110 735,242,621,886
流动负债净额(522,887)(300,030)
总资产减去流动负债(304,409)172,578
非流动负债153,128
银行和其他借款--一年后到期96,982,285
租赁负债--
融资租赁项下的债务3788756
递延税项负债10,745 163,169 108,105
净(负债)/资产(467,578)64,473
资本和储备62,988
股本58,994(544,643)
股票溢价和储备(20868)
公司所有者应占权益(481,655)38,126 14,077
非控股权益26,347
合计(赤字)/权益(467,578)64,4735
未经审计的综合财务报表附注
截至2019年12月31日止年度
1.General Information GTI Holdings Limited(“本公司”)于二零零四年六月九日根据公司法在开曼群岛注册为获豁免有限责任公司,其股份于香港联合交易所有限公司(“联交所”)主板上市。其注册办事处地址及主要营业地点分别为开曼群岛大开曼KY1-1111信箱2681号板球广场Hutchins Drive及香港湾仔汤臣道98号温山大厦13楼B室。本公司及其附属公司(以下统称“本集团”)的未经审核综合财务报表以港元(“港元”)列报,港元与本公司的功能货币相同,除非另有说明,否则所有价值均四舍五入至最接近的千元。
本公司于二零二零年五月二十六日向开曼群岛大法院提交清盘呈请书(“呈请书”),并同时向开曼群岛大法院申请委任本公司的联合临时清盘人(“联合清盘人”)。于二零二零年五月二十八日(开曼时间),开曼法院就喷气推进实验室申请进行聆讯时,批准了一项有利于本公司的命令(“该命令”),并委任RSM Corporate Consulting(Hong Kong)Limited的Osman Mohammed Arab先生及黎永伦先生,以及R&H Restructing(Cayman)Ltd的Claire Marie Loebell女士为合营公司(为重组目的),以轻描淡写的方式进行重组。该命令规定,只要太平绅士获委任为本公司成员,除非获得开曼法院许可并受开曼法院可能施加的条款规限,否则不得对本公司进行诉讼、诉讼或其他法律程序(包括刑事法律程序)或展开针对本公司的诉讼、诉讼或其他法律程序(包括刑事法律程序)。该命令亦规定,为免生任何疑问,未经太平绅士直接或间接批准,不得支付或作出任何公司财产的付款或处置,或任何股份转让,或更改公司成员的地位,但由太平绅士或经太平绅士授权或批准而作出或作出的该等付款或其他处置或股份转让,或在太平绅士执行其职责及职能及行使其在该命令下的权力时作出或作出的该等付款或其他处置或转让,或更改本公司成员的地位,均不得凭藉第99条的条文而避免。持续经营基准本集团于截至2019年12月31日止年度及于2019年12月31日止年度发生本公司业主应占亏损约560,729,000港元, 本集团的流动负债净额及负债净额分别约为522,887,000港元及约467,578,000港元。该等情况显示存在重大不确定性,可能令人对本集团作为持续经营企业的持续经营能力产生重大怀疑。因此,本集团可能无法在正常业务过程中变现资产和清偿负债。6本公司董事认为,鉴于(I)本集团将能够成功完成与债权人的债务重组;(Ii)本集团正积极寻求筹集资金以满足本集团营运资金需求的水平;(Iii)本集团正积极实施成本控制及节约措施,以改善营运现金流及财务状况,本公司董事相信本集团的业绩将于二零零零年大幅改善,故此,本集团将有足够的营运资金应付到期的财务负债;及(Ii)本集团将可与债权人成功完成债务重组;(Ii)本集团正积极寻求筹集资金,以满足本集团的营运资金需求;(Iii)本集团正积极实施成本控制及节约措施,以改善营运现金流及财务状况,而本公司董事相信,本集团的业绩将于二零零零年大幅改善。因此,本公司董事认为按持续经营基准编制综合财务报表是合适的。如果集团无法作为持续经营的企业继续经营,调整将
(更多后续报道)道琼斯通讯社
2020年8月2日美国东部时间18:01(格林尼治标准时间22:01)