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TA YANG GROUP HOLDINGS LIMITED 大 洋 集 團 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1991)
PROFIT WARNING
This announcement is made by Ta Yang Group Holdings Limited (the ''Company'', 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 (Chapter 571 of the Laws of Hong Kong).
The board (the ''Board'') of directors (the ''Directors'') of the Company wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that based on preliminary review of the unaudited consolidated management accounts of the Group, the Group is expected to record a loss for the year ended 31 July 2018 (the ''Year''). Such loss was attributable to a decrease of approximately 30% in sales orders of silicone rubber for the six months ended 31 July 2018 (the ''Second Half of the Financial Year'') as compared with the six months ended 31 January 2018 (the ''First Half of the Financial Year''), and attributable to a decrease of the gross profit margin from approximately 27% in the First Half of the Financial Year to approximately 18.5% in the Second Half of the Financial Year due to the increase in raw material unit price.
The Company is in the process of finalising the results of the Group for the Year. The information contained in this announcement is only a preliminary assessment by the Board with reference to the unaudited consolidated management accounts of the Group currently available and is not based on any figures or information which have been audited or reviewed by the auditors of the Company. Shareholders and potential investors are advised to refer to the Company's annual results announcement for the Year which is expected to be published on 30 October 2018.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board
Ta Yang Group Holdings Limited
Shi Qi
Chairlady and Chief Executive Officer
Hong Kong, 24 October 2018
As at the date of this announcement, the Board comprises three executive Directors, namely Ms. Shi Qi, Mr. Qiu Yonghao and Mr. Zhao Ang; three non-executive Directors, namely Mr. Gao Feng, Mr. Han Lei and Mr. Sze Wai Lun; and three independent non-executive Directors, namely Ms. Zhang Lijuan, Mr. Pak Wai Keung, Martin and Mr. Wu Tak Kong.