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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 INTERIM REPORT
FOR THE SIX MONTH ENDED JUNE 30, 2019
Reference is made to (i) the prospectus of the company dated October 26, 2017 in relation to, among other things, the global offering, and (ii) the interim report of the Company for the six months ended June 30, 2019 (the "2019 Interim Report") published on August 28, 2019. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the 2019 Interim Report.
In addition to the information provided in the 2019 Interim Report, the Board would like to provide further information in relation to the intended timetable for use of net proceeds of approximately RMB6,145 million (HKD7,235 million) raised from the IPO as follows:
Balance of | Intended | ||||
Amount of | net proceeds | timetable for | |||
net proceeds | unutilized | use of the | |||
Allocation of | utilized up to | as at | unutilized | ||
Intended use of net proceeds | net proceeds | June 30, 2019 | June 30, 2019 | net proceeds | |
(RMB in millions) | |||||
(i) | Expanding the Group's online reading business | 1,843.4 | 683.7 | 1,159.7 | By/before |
and sales and marketing activities | December 31, | ||||
2020 | |||||
(ii) | Expanding the Group's involvement in the | 1,843.4 | 258.5 | 1,584.90 | By/before |
development of derivative entertainment products | December 31, | ||||
adapted from its online literary titles | 2020 | ||||
(iii) | Funding our potential investments, acquisitions | 1,843.4 | 1,843.4 | 0 | Not |
and strategic alliances | applicable |
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Balance of | Intended | ||||||
Amount of | net proceeds | timetable for | |||||
net proceeds | unutilized | use of the | |||||
Allocation of | utilized up to | as at | unutilized | ||||
Intended use of net proceeds | net proceeds | June 30, 2019 | June 30, 2019 | net proceeds | |||
(RMB in millions) | |||||||
(iv) Working capital and general corporate purposes | 614.5 | 0 | 614.5 | By/before | |||
December 31, | |||||||
2020 | |||||||
Total | 6,144.7 | 2785.6 | 3,359.1 | ||||
By order of the Board | |||||||
CHINA LITERATURE LIMITED | |||||||
Mr. James Gordon Mitchell |
Chairman of the Board and Non-executive Director
Hong Kong, October 10, 2019
As at the date of this announcement, the Board comprises Mr. Wu Wenhui and Mr. Liang Xiaodong as executive Directors; Mr. James Gordon Mitchell, Mr. Lin Haifeng, Mr. Cao Huayi and Ms. Chen Fei 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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