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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Conch Venture Holdings Limited    586   KYG2116J1085

CHINA CONCH VENTURE HOLDINGS LIMITED

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China Conch Venture : ANNOUNCEMENT REGARDING THE PUBLICATION OF ANNOUNCEMENT ON NOTICE OF BOARD MEETING BY ANHUI CONCH CEMENT COMPANY LIMITED

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03/09/2020 | 05:13am 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.

China Conch Venture Holdings Limited

中 國 海 螺 創 業 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

ANNOUNCEMENT REGARDING

THE PUBLICATION OF ANNOUNCEMENT ON

NOTICE OF BOARD MEETING

BY ANHUI CONCH CEMENT COMPANY LIMITED

This announcement is made by China Conch Venture Holdings Limited (''Company'', which together with its subsidiaries are collectively referred to as the ''Group'') pursuant to Rule 13.09 of the Rules (''Listing Rules'') Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited 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).

As at the date of this announcement, the Group is indirectly interested in 49% equity interest in 安徽海螺集團有限責任公司 (Anhui Conch Holdings Co. Ltd.*, ''Conch Holdings''), which in turn is interested in approximately 36.40% equity interest in Anhui Conch Cement Company Limited (''Conch Cement'', Hong Kong Stock Exchange stock code: 00914, Shanghai Stock Exchange stock code: 600585). As disclosed in the Company's annual report previously published for the year ended 31 December 2018''FY2018'') and its interim report for the six months ended 30 June 2019 (''1H2019''), the Group derived a substantial portion of its profit for FY2018 and 1H2019 from its equity interests in Conch Holdings, an associate of the Company. During such periods, the share of profit of Conch Holdings accounted for 87.1% and 86.3% of the Group's profit, respectively.

Having taken into account the above factors, the board (''Board'') of directors (''Directors'') of the Company wishes to inform the shareholders of the Company that on 9 March 2020 Conch Cement published an announcement (''Cement Announcement'') giving notice of a board meeting of Conch Cement to be held on 20 March 2020 to consider and approve (among other matters) the audited annual results of Conch Cement and its subsidiaries for the financial year ended 31 December 2019.

For further details, shareholders of the Company and potential investors are requested to refer to the Cement Announcement.

- 1 -

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

By Order of the Board

China Conch Venture Holdings Limited

SHU Mao

Company Secretary

Anhui Province, the People's Republic of China

9 March 2020

As at the date of this announcement, the Board comprises Mr. GUO Jingbin (Chairman), Mr. JI Qinying (Chief Executive Officer), Mr. LI Jian and Mr. LI Daming as executive Directors; Mr. CHANG Zhangli as non-executive Director; and Mr. CHAN Chi On (alias Derek CHAN), Mr. CHAN Kai Wing and Mr. LAU Chi Wah, Alex as independent non- executive Directors.

* English translation or transliteration of Chinese name for identification purpose only

- 2 -

Disclaimer

China Conch Venture Holdings Ltd. published this content on 09 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2020 10:12:09 UTC

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Sales 2020 6 669 M 936 M 936 M
Net income 2020 7 412 M 1 041 M 1 041 M
Net Debt 2020 6 393 M 898 M 898 M
P/E ratio 2020 7,93x
Yield 2020 2,34%
Capitalization 59 417 M 8 335 M 8 344 M
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EV / Sales 2020 9,87x
Nbr of Employees 3 941
Free-Float 87,8%
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Mean consensus BUY
Number of Analysts 10
Average target price 38,76 CNY
Last Close Price 32,92 CNY
Spread / Highest target 33,3%
Spread / Average Target 17,7%
Spread / Lowest Target 8,43%
EPS Revisions
Managers
NameTitle
Qin Ying Ji Chief Executive Officer & Executive Director
Jing Bin Guo Chairman
Zhong Ping Zhu Chief Financial Officer
Jian Li Executive Director & Deputy General Manager
Da Ming Li Executive Director & Deputy General Manager
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