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.
EVERCHINA INT'L HOLDINGS COMPANY LIMITED
潤中 國 際 控 股 有 限 公 司
(incorporated in Hong Kong with limited liability)
(Stock Code: 202)
PROFIT WARNING
This announcement is made by EverChina Int'l Holdings Company Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).
The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company ("Shareholders") and potential investors that based on the preliminary review and the latest available unaudited management accounts of the Group, the Group is expected to record a loss for the year ended 31 March 2018 as compared to the profit for the year ended 31 March 2017. The anticipated turnaround to loss is mainly attributable to, including but not limited to, (i) recognition of loss arising on the change in financial assets at fair value through profit or loss as compared to the profit of HK$223,176,000 for the same period of last year; (ii) payment of the PRC Enterprise Income Tax of approximately RMB88,530,000 (equivalent to approximately HK$109,296,000) after tax examination by the Tianjin Tax Bureau and recognition of a provision of overdue fine charged by the Tianjin Tax Bureau of RMB53,910,000 (equivalent to approximately HK$66,556,000); and (iii) an increase in provision for impairment of trade and other receivables and prepayments.
The Company is still in the process of finalising the results of the Group for the year ended 31
March 2018. The information contained in this announcement is only a preliminary assessment by the Board based on information currently available to the Company and is not based on any figures or information that has been audited or reviewed by the Company's auditors. The Company expects to announce its consolidated annul results for the year ended 31 March 2018 in late June 2018.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board of
EverChina Int'l Holdings Company Limited
Lam Cheung Shing, Richard
Executive Director and Chief Executive Officer
Hong Kong, 8 June 2018
As at the date of this announcement, the executive Directors are Mr. Jiang Zhaobai, Mr. Shen Angang, Mr. Lam Cheung Shing, Richard and Mr. Chen Yi, Ethan and the independent non-executive Directors are Mr. Ho Yiu Yue, Louis, Mr. Ko Ming Tung, Edward and Professor Shan Zhemin.