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.
ERNEST BOREL HOLDINGS LIMITED
Աت༩છٰϞࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1856)
INSIDE INFORMATION
UNAUDITED FINANCIAL INFORMATION
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2020
This announcement is made by Ernest Borel Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09(2) of the Rules (the ''Listing Rules'') Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Citychamp Watch & Jewellery Group Limited (''Citychamp''), the controlling shareholder of the Company and the shares of which are listed on the main board of the Stock Exchange (stock code: 256), has published a circular in relation to, among others, the very substantial disposal and connected transaction on 25 February 2021 (the ''Circular''). For more details, please refer to the Circular and the announcements of Citychamp dated 7 January 2021, 17 December 2020 and 16 December 2020. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular. The Circular contains unaudited financial information of the Company for the nine months ended 30 September 2020 and the Company will disclose its annual results for the year ended 31 December 2020 no later than 31 March 2021.
EXTRACT AND SUMMARY OF THE CIRCULAR - RELEASED BY CITYCHAMP
The following is an extract of the selected financial information relating to the Group's performance for the nine months ended 30 September 2020:
Page 21 of the Circular:
''INFORMATION ON THE COMPANY AND THE REMAINING GROUP
The summaries of certain unaudited financial information of the Remaining Group for the three years ended 31 December 2017, 2018, 2019 and nine months ended 30 September 2020 respectively:
Remaining
Watches and Timepieces Businesses
Property Investments
Banking and Financial Businesses
HK$ 'M
HK$ 'M
HK$ 'M
For the Period Ended
30 Sep 2020
Total Revenue
Net Profit/(Loss) after Tax For the Year Ended
77 (13)
5 285
5 34
Unallocated | Total |
HK$ 'M | HK$'M |
- | 367 |
(39) (Note 1)
(13)
31 Dec 2019
Total Revenue
Net Profit/(Loss) after Tax For the Year Ended
142 (75)
7 457
-
8 173
(149) (Note 1)
606 (43)
31 Dec 2018
Total Revenue
Net Profit/(Loss) after Tax For the Year Ended
43 (36)
8 484
-
3 165
(113) (Note 1)
535 19
31 Dec 2017
Total Revenue
Net Profit/(Loss) after Tax
- -
17 382
-
1,245 138
(181) (Note 1)
399 1,202
Note 1: Unallocated amount comprises interest expenses to bank borrowings in relation to the watches and timepieces businesses during the track record period.''
Page 23 of the Circular:
''INFORMATION ON THE COMPANY AND THE REMAINING GROUP
Watches and timepieces businesses
In 2019, Ernest Borel Holdings Limited's revenue increased from HK$43.0 million to HK$142.0 million and net loss after tax increased from HK$36.0 million to HK$75.0 million, mainly due to the full year contribution from the acquisition of Ernest Borel Holdings Limited and a decrease in sales from its core market in the PRC.
For the nine months ended 30 September 2020, Ernest Borel Holdings Limited recorded revenue of HK$77.0 million and net loss after tax of HK$13.0 million, mainly because the outbreak of COVID-19 significantly reduced the consumer sentiment in Hong Kong and the PRC.''
Page IV-19 (Page 19 of Appendix IV) of the Circular:
The following is a summary of the selected financial information relating to the Remaining Group's performance for the nine months ended 30 September 2020:
''FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2020
Revenue
2. Watches and timepieces businesses
For the nine months ended 30 September 2020, Ernest Borel Holdings Limited recorded revenue of approximately HK$77.2 million, representing a year-on-year decrease of approximately HK$15.0 million or 16.3%, mainly due to the global outbreak of the COVID-19.
Net Profit/(Loss) After Tax
The net loss after tax amounted to approximately HK$13.0 million from the watches and timepieces businesses. The watches and timepieces businesses recorded a decline in the net loss after tax of HK$27.0 million or 67.5% from HK$40.0 million for the nine months ended 30 September 2019 to net loss after tax of HK$13.0 million for the nine months ended 30 September 2020.
The board (the ''Board'') of directors wishes to remind the shareholders of the Company (the ''Shareholders'') and prospective investors that such financial information of the Company has not been reviewed and audited by the auditors of the Company or reviewed by the audit committee of the Company.
The Shareholders and prospective investors are cautioned not to unduly rely on such information and are reminded to exercise caution when dealing in the securities of the Company.
By Order of the Board Ernest Borel Holdings Limited
Shang Jianguang
Chairman
Hong Kong, 25 February 2021
As at the date of this announcement, the Board comprises of the following members:
Executive Directors: | Mr. Shang Jianguang, Mr. Teguh Halim, Mr. Xiong Wei |
and Ms. Lam Lai | |
Non-executive Directors: | Mr. Xiong Ying and Mr. Tao Li |
Independent Non-executive | Mr. To Chun Kei, Mr. Hui Cheuk Kit Frederick and |
Directors: | Ms. Chan Lai Wa |
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Disclaimer
Ernest Borel Holdings Ltd. published this content on 25 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2021 10:49:01 UTC.