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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Avic International Holding (Hk) Ltd    0232   BMG0719V1063

AVIC INTERNATIONAL HOLDING (HK) LTD

(0232)
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Avic International Hk : POSITIVE PROFIT ALERT (in PDF)

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08/14/2019 | 05:32am EDT

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 232)

POSITIVE PROFIT ALERT

This announcement made by AVIC International Holding (HK) 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 in 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 of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on the information currently available to the Company and the preliminary review of the unaudited consolidated management accounts of the Group, the Company is expected to turn a loss into a profit for the six months ended 30 June 2019 which was mainly attributable to the followings:

  1. the Group had disposed of the property development and investment business last year and that business had recorded a loss of HK$56,740,000 for the first half of 2018; and
  2. the performance of the general aviation aircraft piston engine business improved, turning a loss of HK$23,837,000 into a profit.

The Company is still in the course of preparing and finalising the consolidated results of the Group for the six months ended 30 June 2019. The information contained in this announcement is based on the information currently available to the Company and the preliminary assessment of the management accounts of the Group for the six months ended 30 June 2019, which has not been audited nor reviewed by the Company's auditors or the audit committee of the Company and may subject to adjustments. The overall results of the Group for the six months ended 30 June 2019 will only be ascertained when all the relevant results and accounting treatments are finalised.

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The Shareholders and potential investors are advised to read carefully the results announcement of the Company for the six months ended 30 June 2019, which is expected to be published on or around 22 August 2019.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board of

AVIC International Holding (HK) Limited

Liu Hongde

Chairman

Hong Kong, 14 August 2019

As at the date of this announcement, the Board comprises Mr. Liu Hongde, Mr. Lai Weixuan, Mr. Fu Fangxing, Mr. Zhang Zhibiao and Mr. Yu Xiaodong as executive Directors; Mr. Chow Wai Kam as non-executive Director; Mr. Chu Yu Lin, David, Mr. Li Ka Fai, David and Mr. Zhang Ping as independent non-executive Directors.

2

Disclaimer

AVIC International Holding (HK) Limited published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 09:31:10 UTC

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Financials (HKD)
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Capitalization 1 535 M
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Wei Xuan Lai Chief Executive Officer & Executive Director
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