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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Medical & HealthCare Group Limited    383   BMG2133H1016

CHINA MEDICAL & HEALTHCARE GROUP LIMITED

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China Medical & HealthCare : POSITIVE PROFIT ALERT

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02/16/2020 | 06:07pm 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.

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform the shareholders of the Company and potential investors that based on its preliminary review on the relevant unaudited consolidated management accounts of the Group for the eighteen months ended 31 December 2019 and information currently available, it is expected to record a substantial reduction in loss or may record a small profit attributable to

shareholders of the Company in a range of approximately HK$1 million to HK$13 million for the

eighteen months ended 31 December 2019 (subject to any possible impairment or other adjustments) as compared with a loss of approximately HK$137.1 million for the corresponding financial year in 2018 (twelve months) recorded by the Group. This was mainly due to (i) an overall tax credit; (ii) the increase in hospital fees and charges from healthcare division; (iii) the increase in interest income from money lending business; and (iv) a gain in fair value change of investments held for trading compared with a loss recorded in 2018.

Shareholders of the Company and potential investors should exercise caution when dealing in the securities of the Company.

This announcement is made by China Medical & HealthCare Group Limited (the "Company", together with its subsidiaries, collectively 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 under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "SFO"). Reference is also made to the announcement of the Company dated 6 December 2018 in relation to the change of financial year end date.

1

The board of the directors of the Company (the "Board") wishes to inform the shareholders of the Company and potential investors that based on its preliminary review on the relevant unaudited consolidated management accounts of the Group for the eighteen months ended 31 December 2019 and information currently available, it is expected to record a substantial reduction in loss or may record a small profit attributable to shareholders of the Company in a range of approximately HK$1 million to HK$13 million for the eighteen months ended 31 December 2019 (subject to any possible impairment or other adjustments) as compared with a loss of approximately HK$137.1 million for the corresponding financial year in 2018 (twelve months) recorded by the Group. This was mainly due to (i) an overall tax credit; (ii) the increase in hospital fees and charges from healthcare division;

  1. the increase in interest income from money lending business; and (iv) a gain in fair value change of investments held for trading compared with a loss recorded in 2018.

This positive profit alert announcement is only based on the preliminary review on the relevant unaudited consolidated management accounts of the Group for the eighteen months ended 31 December 2019 and the information currently available and is subject to finalization and adjustments where necessary, which have not been confirmed or reviewed by the Company's auditor. Accordingly, the actual final results of the Group for the eighteen months ended 31 December 2019 may be different from what is disclosed in this positive profit alert announcement. The Company is in the process of finalizing the final results for the eighteen months ended 31 December 2019 and shareholders of the Company and potential investors are advised to read carefully the final results announcement of the Company for the eighteen months ended 31 December 2019, which is expected to be released before the end of March 2020.

Shareholders of the Company and potential investors should exercise caution when dealing in the securities of the Company.

By Order of the Board

China Medical & HealthCare Group Limited

Zhou Liye

Chairman

Hong Kong, 14 February 2020

As at the date of this announcement, the Board comprises:-

Executive Directors

Ms. Chong Sok Un (Deputy Chairman), Mr. Kong Muk Yin, Mr. Guo Meibao and Mr. Zhou Haiying

Non-Executive Directors

Mr. Zhou Liye (Chairman), Dato' Wong Peng Chong and Mr. Ma Jianting

Independent Non-Executive Directors

Mr. Zhang Jian, Dr. Xia Xiaoning, Dr. Wong Wing Kuen, Albert and Ms. Yang Lai Sum, Lisa

2

Disclaimer

China Medical & HealthCare Group Ltd. published this content on 17 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2020 23:06:01 UTC

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Li Ye Zhou Chairman
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Muk Yin Kong Executive Director
Jian Zhang Independent Non-Executive Director
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