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.
SUN KONG HOLDINGS LIMITED
申港控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8631)
INTERIM RESULTS ANNOUNCEMENT
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate small and mid-sized 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.
Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.
This announcement, for which the directors (the "Directors") of Sun Kong Holdings Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company and its subsidiaries (together the "Group"). The Directors, having made all reasonable enquiries, 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, there are no other matters the omission of which would make any statement herein or this announcement misleading.
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HIGHLIGHTS
- The Group recorded a revenue of approximately HK$125.5 million for the six months ended 30 September 2020, representing a decrease of approximately HK$78.5 million or 38.5% as compared to the Group's revenue of approximately HK$204.0 million for the six months ended 30 September 2019.
- The Group's gross profit margin decreased from approximately 4.6% for the six months ended 30 September 2019 to approximately 1.7% for the six months ended 30 September 2020.
- The Group recorded a loss attributable to the owners of the Company of approximately HK$1.2 million for the six months ended 30 September 2020, representing a decrease of approximately HK$5.6 million or 127.3%, as compared to the Group's profit attributable to the owners of the Company of approximately HK$4.4 million for the six months ended 30 September 2019.
- The Board does not recommend the payment of any dividend for the six months ended 30 September 2020.
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The board of Directors (the "Board") of the Company is pleased to announce the unaudited condensed consolidated interim results of the Group for the three months and six months ended 30 September 2020 (the "Reporting Period"), together with the respective unaudited comparative figures for the corresponding periods in 2019, as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the three months and six months ended 30 September 2020
Three months ended | Six months ended | ||||||||||
30 September | 30 September | ||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||
Notes | HK$'000 | HK$'000 | HK$'000 | HK$'000 | |||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||
Revenue | 3 | 50,004 | 108,915 | 125,476 | 204,021 | ||||||
Cost of sales | (49,920) | (104,610) | (123,405) | (194,581) | |||||||
Gross profit | 84 | 4,305 | 2,071 | 9,440 | |||||||
Other income | 4 | 563 | 19 | 1,246 | 285 | ||||||
Administrative expenses and | |||||||||||
other operating expenses | (2,847) | (2,327) | (4,829) | (4,644) | |||||||
Finance costs | 5 | (53) | (32) | (101) | (60) | ||||||
(Loss) Profit before tax | 5 | (2,253) | 1,965 | (1,613) | 5,021 | ||||||
Income tax credit (expenses) | 6 | 394 | (511) | 402 | (670) | ||||||
(Loss) Profit and total comprehensive | |||||||||||
(loss) income for the period | (1,859) | 1,454 | (1,211) | 4,351 | |||||||
HK Cents | HK Cents | HK Cents | HK Cents | ||||||||
(Loss) Earnings per share | |||||||||||
Basic and diluted | 8 | (0.46) | 0.36 | (0.30) | 1.09 | ||||||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 30 September 2020
At 30 | At 31 | |||
September | March | |||
2020 | 2020 | |||
HK$'000 | HK$'000 | |||
Notes | (Unaudited) | (Audited) | ||
Non-current assets | ||||
Property, plant and equipment | 9 | 9,096 | 6,443 | |
Right-of-use assets | 10 | 466 | 665 | |
Deposit paid for acquisition of property, plant and equipment | 50 | 2,270 | ||
9,612 | 9,378 | |||
Current assets | ||||
Trade receivables | 11 | 52,743 | 55,071 | |
Other receivables | 12 | 2,536 | 1,243 | |
Tax recoverable | 1,651 | 1,527 | ||
Bank balances and cash | 1,165 | 626 | ||
58,095 | 58,467 | |||
Current liabilities | ||||
Trade payables | 13 | 2,687 | 1,844 | |
Other payables | 14 | 1,963 | 1,893 | |
Bank overdrafts | 756 | - | ||
Lease liabilities | 10 | 454 | 414 | |
5,860 | 4,151 | |||
Net current assets | 52,235 | 54,316 | ||
Total assets less current liabilities | 61,847 | 63,694 | ||
Non-current liabilities | ||||
Deferred tax liabilities | 317 | 719 | ||
Lease liabilities | 10 | 80 | 314 | |
397 | 1,033 | |||
NET ASSETS | 61,450 | 62,661 | ||
Capital and reserves | ||||
Share capital | 15 | 4,000 | 4,000 | |
Reserves | 57,450 | 58,661 | ||
TOTAL EQUITY | 61,450 | 62,661 | ||
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