(incorporated in the Cayman Islands with limited liability)
(Stock Code: 8060)
CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.
Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the main board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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. This announcement, for which the directors (the "Directors") of Global Link Communications Holdings Limited collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquires, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the GEM website at www.hkgem.com on the "Latest Company Announcements" page for at least 7 days from the date of its posting. This announcement will also be posted on the website of the Company at www.glink.hk.
HIGHLIGHTS
Turnover for the six months ended 30 September 2016 was approximately HK$33,097,000, representing a 61% increase from that of the Last Corresponding Period.
Profit attributable to equity shareholders of the Company for the six months ended 30 September 2016 was approximately HK$640,000 and net loss of HK$9,993,000 was recorded in the Last Corresponding Period.
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2016
The board of directors (the "Board") of Global Link Communications Holdings Limited (the "Company") announces the unaudited condensed consolidated financial statements of the Company and its subsidiaries ("Global Link" or the "Group") for the three months and the six months ended 30 September 2016 together with the unaudited comparative figures for the corresponding period in 2015 ("Last Corresponding Period") as follows:
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the three months ended 30 September
For the six months ended 30 September
2016 2015 2016 2015
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Notes HK$'000 HK$'000 HK$'000 HK$'000
Revenue 2 & 4 20,670 10,156 33,097 20,589
Cost of sales (14,900) (10,823) (26,835) (23,128)
Gross profit 5,770 (667) 6,262 (2,539)
Other income 1,791 245 5,487 1,587
Selling expenses (1,967) (1,504) (4,610) (3,117)
Administrative expenses (1,912) (3,173) (4,874) (5,924)
Other operating expenses (813) - (1,625) -
Profit/(loss) before taxation 3 2,869 (5,099) 640 (9,993) Income tax 5 (640) - - -
Profit/(loss) for the period 2,229 (5,099) 640 (9,993)
Other comprehensive (loss)/income:
Exchange differences on translating
foreign operations (150) (1,157) (910) (1,157)
Total comprehensive income/(loss)
for the period 2,079 (6,256) (270) (11,150)
Profit/(loss) attributable to:
Equity shareholders of the Company 2,229 (5,099) 640 (9,993) Non-controlling interests - - - -
2,229 (5,099) 640 (9,993)
Total comprehensive income/(loss) attributable to:
Equity shareholders of the Company Non-controlling interests | 2,079 - | (6,256) - | (270) - | (11,150) - | |
2,079 | (6,256) | (270) | (11,150) | ||
Earnings/(loss) per share (in HK cents): - Basic | 7 | 0.107 | (0.47) | 0.032 | (0.92) |
- Diluted | 0.106 | (0.47) | 0.031 | (0.92) |
CONSOLIDATED STATEMENT OF FINANCIAL | POSITION | As at | As at | |
Notes | 30 September 2016 (Unaudited) HK$'000 | 31 March 2016 (Audited) HK$'000 | ||
Non-current assets | ||||
Property, plant and equipment | 8 | 1,725 | 1,929 | |
Intangible asset | 26,813 | 28,437 | ||
Current assets | ||||
Inventories | 13,367 | 7,451 | ||
Trade and other receivables | 9 | 39,909 | 40,986 | |
Deposits and prepayments | 2,876 | 2,584 | ||
Pledged bank deposit | 1,176 | 1,220 | ||
Cash and bank balances | 90,099 | 12,482 | ||
147,427 | 64,723 | |||
Current liabilities | ||||
Trade and other payables | 10 | 21,177 | 17,910 | |
Provision | 11,709 | 12,721 | ||
Provision for taxation | 7,203 | 7,473 | ||
40,089 | 38,104 | |||
Net current assets | 107,338 | 26,619 | ||
Total assets less current liabilities | 135,876 | 56,985 | ||
Non-current liabilities Provision for long service payments | 56 | 56 | ||
56 | 56 | |||
Net assets | 135,820 | 56,929 | ||
Capital and reserves | ||||
Equity attributable to equity shareholders of the Company Share capital | 20,888 | 10,888 | ||
Reserves | 114,958 | 46,067 | ||
Non-controlling interests | (26) | (26) | ||