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CHINA LITERATURE LIMITED
閱 文 集 團
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 772)
SUPPLEMENTAL ANNOUNCEMENT
IN RELATION TO THE ANNUAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 2019
Reference is made to the annual report of the Company for the year ended December 31, 2019 (the "2019 Annual Report") published on April 27, 2020. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the 2019 Annual Report.
In addition to the information provided in the 2019 Annual Report, the Board would like to provide further information in relation to the use of net proceeds during the year ended December 31, 2019 as follows:
Amount | ||||||
of net | Amount | Balance | ||||
proceeds | of net | of net | Intended | |||
utilized | proceeds | proceeds | timetable | |||
during the | utilized | unutilized | for use | |||
Allocation | year ended | up to | as at | of the | ||
of net | December | December | December | unutilized | ||
Intended use of net proceeds | proceeds | 31, 2019 | 31, 2019 | 31, 2019 | net proceeds | |
(RMB in millions) | ||||||
(i) | Expanding the Group's online | 1,843.4 | 669.7 | 1,015.1 | 828.3 | By/before |
reading business and sales and | December 31, | |||||
marketing activities | 2020 | |||||
(ii) | Expanding the Group's | 1,843.4 | 1,150.6 | 1,351.5 | 491.9 | By/before |
involvement in the development of | December 31, | |||||
derivative entertainment products | 2020 | |||||
adapted from its | ||||||
online literary titles | ||||||
(iii) | Funding our potential investments, | 1,843.4 | 109.4 | 1,843.4 | - | Not |
acquisitions | applicable | |||||
and strategic alliances |
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Amount | |||||||||||
of net | Amount | Balance | |||||||||
proceeds | of net | of net | Intended | ||||||||
utilized | proceeds | proceeds | timetable | ||||||||
during the | utilized | unutilized | for use | ||||||||
Allocation | year ended | up to | as at | of the | |||||||
of net | December | December | December | unutilized | |||||||
Intended use of net proceeds | proceeds | 31, 2019 | 31, 2019 | 31, 2019 | net proceeds | ||||||
(RMB in millions) | |||||||||||
(iv) Working capital and general | 614.5 | 614.5 | 614.5 | - | Not | ||||||
corporate purposes | applicable | ||||||||||
Total | |||||||||||
6,144.7 | 2,544.2 | 4,824.5 | 1,320.2 | ||||||||
By order of the Board | |||||||||||
CHINA LITERATURE LIMITED | |||||||||||
Mr. James Gordon Mitchell |
Chairman of the Board and Non-executive Director
Hong Kong, August 31, 2020
As at the date of this announcement, the Board comprises Mr. Cheng Wu and Mr. Hou Xiaonan as executive Directors; Mr. James Gordon Mitchell, Mr. Wu Wenhui, Mr. Cao Huayi and Mr. Cheng Yun Ming Matthew as non-executive Directors; Ms. Yu Chor Woon Carol, Ms. Leung Sau Ting Miranda and Mr. Liu Junmin as independent non-executive Directors.
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