DJ HK Bourse: Results Announcement From Addchance Holdings Ltd.
For full details, please click on the following link:
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公佈業績。
欲覽全部詳情,請點擊以下鏈接:
Https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0802/2020080200083.pdf公佈截至2019年12月31日的未經審計年度業績
未經審計的年度業績
基於下文“財務信息審查”一段中解釋的原因,審計
GTI Holdings Limited(“本公司”)及其附屬公司(“本公司”)的年度業績過程
“集團”)截至2019年12月31日止年度尚未完成,本公司無法
在3月31日之前發佈與公司審計師達成一致的年度業績公告
2020年根據《證券上市規則》(以下簡稱《上市規則》)第13.49條的規定
香港聯合交易所有限公司(“聯交所”)的“規則”)。
同時,本公司董事會(“董事會”)宣佈未經審計的
本集團截至2019年12月31日止年度的綜合業績及
上一對應年度如下:1
未經審計的綜合損益表及其他
綜合收益
截至2019年12月31日止年度2019年‘000港元債券(未經審核)(經審核)704,356 4
收入611,052(735,299)
銷售成本(618,282)
總虧損(30,943)(7,230)647
利息收入63 15,548 5
其他收入7917 201
聯營公司業績份額-(357,928)6
其他損益(33,799)(15,298)
銷售和分銷成本(28,518)(92,997)
行政費用(126,066)(123,440)
融資成本(87,049)
税前虧損(604,210)(274,682)(3,666)7
所得税支出(742)
全年虧損(607,876)8(275,424)
其他綜合收益/(虧損):
不會重新分類為損益的項目:
公允價值股權投資(5,412)通過其他綜合收益的公允價值變動1,275
可重新分類為損益的項目:
對外業務翻譯匯兑差額(198)(5837)
(393)聯營公司的外幣折算儲備份額-
出售子公司後將換算準備金重新分類為損益(9776)7271(10367)1434
年內全面虧損總額(623,655)(272,715)2 2019年2019港元‘000港元票據’000港元(未經審核)(經審核)
本年度虧損可歸因於:(560,729)公司所有者(275,391)(47,147)非控股權益(33)(607,876)(275,424)
本年度可歸因於:(576,362)公司所有者(272,682)(47,293)非控股權益(33)(623,655)(272,715)的綜合虧損總額
每股虧損10(9.00)
基本及攤薄(港仙)(5.09)3
未經審計的綜合財務狀況表
於2019年12月31日,2018年港元‘000元債券(未經審核)(經審核)
非流動資產108,983
物業、廠房及設備186,351-
預付租金23,005 13,031
使用權資產-
為取得土地使用權和17,802件財產、廠房和設備支付的押金18,7176
商譽34,317 18,353
無形資產26,310 17,783
聯營公司權益173,643
通過其他方式按公允價值進行的股權投資--綜合收益5,414 37,520
衍生金融工具1,412-
遞延税項資產3,439,000 11
貿易和其他應收款、押金和預付款--218,478,472,608
流動資產-
預付租金586-
通過損益按公允價值進行投資2,199,408
(更多後續報道)道瓊斯通訊社
2020年8月2日美國東部時間18:01(格林尼治標準時間22:01)
DJ香港交易所:Addance Holdings Ltd.公佈業績-2-
庫存26,428 196,653 11
貿易和其他應收款、押金和預付款254,570-
可追討税款1,659 5,511
銀行餘額和現金15,591 205,572 301,033 6,783
分類為持有待售資產20,823 212,355 321,856 4 2019 2019港元‘000港元票據’000港元(未經審核)(經審核)
流動負債244,724 12
貿易和其他應付款166,585 533
合同負債683926
納税義務7,998,446,127
銀行和其他借款-一年內到期422,581-
銀行透支846 2618
租賃負債--
融資租賃項下的債務139 8,258
應付關聯方的金額2,944 711,786 601,776 23,456
與歸類為持有待售資產的負債20,110 735,242,621,886
流動負債淨額(522,887)(300,030)
總資產減去流動負債(304,409)172,578
非流動負債153,128
銀行和其他借款--一年後到期96,982,285
租賃負債--
融資租賃項下的債務3788756
遞延税項負債10,745 163,169 108,105
淨(負債)/資產(467,578)64,473
資本和儲備62,988
股本58,994(544,643)
股票溢價和儲備(20868)
公司所有者應占權益(481,655)38,126 14,077
非控股權益26,347
合計(赤字)/權益(467,578)64,4735
未經審計的綜合財務報表附註
截至2019年12月31日止年度
1.General Information GTI Holdings Limited(“本公司”)於二零零四年六月九日根據公司法在開曼羣島註冊為獲豁免有限責任公司,其股份於香港聯合交易所有限公司(“聯交所”)主板上市。其註冊辦事處地址及主要營業地點分別為開曼羣島大開曼KY1-1111信箱2681號板球廣場Hutchins Drive及香港灣仔湯臣道98號温山大廈13樓B室。本公司及其附屬公司(以下統稱“本集團”)的未經審核綜合財務報表以港元(“港元”)列報,港元與本公司的功能貨幣相同,除非另有説明,否則所有價值均四捨五入至最接近的千元。
本公司於二零二零年五月二十六日向開曼羣島大法院提交清盤呈請書(“呈請書”),並同時向開曼羣島大法院申請委任本公司的聯合臨時清盤人(“聯合清盤人”)。於二零二零年五月二十八日(開曼時間),開曼法院就噴氣推進實驗室申請進行聆訊時,批准了一項有利於本公司的命令(“該命令”),並委任RSM Corporate Consulting(Hong Kong)Limited的Osman Mohammed Arab先生及黎永倫先生,以及R&H Restructing(Cayman)Ltd的Claire Marie Loebell女士為合營公司(為重組目的),以輕描淡寫的方式進行重組。該命令規定,只要太平紳士獲委任為本公司成員,除非獲得開曼法院許可並受開曼法院可能施加的條款規限,否則不得對本公司進行訴訟、訴訟或其他法律程序(包括刑事法律程序)或展開針對本公司的訴訟、訴訟或其他法律程序(包括刑事法律程序)。該命令亦規定,為免生任何疑問,未經太平紳士直接或間接批准,不得支付或作出任何公司財產的付款或處置,或任何股份轉讓,或更改公司成員的地位,但由太平紳士或經太平紳士授權或批准而作出或作出的該等付款或其他處置或股份轉讓,或在太平紳士執行其職責及職能及行使其在該命令下的權力時作出或作出的該等付款或其他處置或轉讓,或更改本公司成員的地位,均不得憑藉第99條的條文而避免。持續經營基準本集團於截至2019年12月31日止年度及於2019年12月31日止年度發生本公司業主應占虧損約560,729,000港元, 本集團的流動負債淨額及負債淨額分別約為522,887,000港元及約467,578,000港元。該等情況顯示存在重大不確定性,可能令人對本集團作為持續經營企業的持續經營能力產生重大懷疑。因此,本集團可能無法在正常業務過程中變現資產和清償負債。6本公司董事認為,鑑於(I)本集團將能夠成功完成與債權人的債務重組;(Ii)本集團正積極尋求籌集資金以滿足本集團營運資金需求的水平;(Iii)本集團正積極實施成本控制及節約措施,以改善營運現金流及財務狀況,本公司董事相信本集團的業績將於二零零零年大幅改善,故此,本集團將有足夠的營運資金應付到期的財務負債;及(Ii)本集團將可與債權人成功完成債務重組;(Ii)本集團正積極尋求籌集資金,以滿足本集團的營運資金需求;(Iii)本集團正積極實施成本控制及節約措施,以改善營運現金流及財務狀況,而本公司董事相信,本集團的業績將於二零零零年大幅改善。因此,本公司董事認為按持續經營基準編制綜合財務報表是合適的。如果集團無法作為持續經營的企業繼續經營,調整將
(更多後續報道)道瓊斯通訊社
2020年8月2日美國東部時間18:01(格林尼治標準時間22:01)