Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
PROFIT WARNING
This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.
The Board wishes to inform Shareholders and potential investors that, based on the preliminary unaudited consolidated management accounts of the Group, the Group expects to record a consolidated loss attributable to the owners of the Company for the year ended 31 July 2019 as compared to a consolidated profit for the year ended 31 July 2018, which is primarily due to a significant decrease in fair value gain arising from revaluation of the Group's investment properties and the absence of profit contribution from the property sales of a joint venture project of the Group as the sale of the project has been completed.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
This announcement is made by eSun Holdings Limited ("Company", and together with its subsidiaries, "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, the Laws of Hong Kong) ("SFO").
The Company acts as an investment holding company and the principal activities of its subsidiaries include the development, operation of and investment in media and entertainment, music production and distribution, the investment in and production and distribution of television programmes, films and video format products, cinema operation, property development for sale and property investment for rental purposes as well as the development and operation of and investment in cultural, leisure, entertainment and related facilities.
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Based on the preliminary unaudited consolidated management accounts of the Group for the year ended 31 July 2019 ("Year"), the board of directors of the Company ("Board") wishes to inform shareholders of the Company ("Shareholders") and potential investors that the Group expects to record a consolidated loss attributable to the owners of the Company for the Year as compared to a consolidated profit of HK$263.8 million for the year ended 31 July 2018.
The consolidated loss attributable to the owners of the Company for the Year is primarily due to a significant decrease in fair value gain arising from revaluation of the Group's investment properties and the absence of profit contribution from the property sales of a joint venture project of the Group as the sale of the project has been completed.
The information contained in this announcement is only based on the preliminary assessment by the Group's management according to the information that is currently available and the preliminary unaudited consolidated management accounts of the Group for the Year which have not yet been reviewed by the Company's audit committee or audited by the Company's independent auditor. The final results of the Group for the Year are expected to be published on 22 October 2019.
Shareholders and potential investors are, therefore, advised to exercise caution when dealing in the shares of the Company.
By Order of the Board
eSun Holdings Limited
Lui Siu Tsuen, Richard
Executive Director and
Chief Executive Officer
Hong Kong, 17 October 2019
As at the date of this announcement, the Board comprises four Executive Directors, namely Messrs. Lui Siu Tsuen, Richard (Chief Executive Officer), Chew Fook Aun, Lam Hau Yin, Lester and Yip Chai Tuck; one Non-executive Director, namely Madam U Po Chu; and four Independent Non -executive Directors, namely Messrs. Low Chee Keong (Chairman), Lo Kwok Kwei, David and Alfred Donald Yap and Dr. Ng Lai Man, Carmen.
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