Global Tech : Interim Results Announcement for the six months ended 31 March 2017

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GLOBAL TECH (HOLDINGS) LIMITED

耀科國 際（控股 ）有限公司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 143)

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2017

The board of directors (the "Board") of Global Tech (Holdings) Limited (the "Company") announces the unaudited condensed consolidated results of the Company together with its subsidiaries (the "Group") for the six months ended 31 March 2017, together with the comparative figures, as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 31 March 2017

For the six months ended 31 March

2017 2016

Notes	(Unaudited) HK$'000	(Unaudited) HK$'000
Revenue	4	41,320	47,472
Cost of sales	(29,130)	(34,536)
Gross profit	12,190	12,936
Other revenue	5	86	375
Selling and distribution expenses	(2)	(16)
Administrative expenses	(27,472)	(23,911)
Other operating expenses	(662)	(45)
Finance costs	(70)	(238)
Loss before taxation	6	(15,930)	(10,899)
Taxation	7	-	(149)
Loss for the period	(15,930)	(11,048)
* For identification purpose only

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED)

For the six months ended 31 March 2017

For the six months ended 31 March

2017 2016

(Unaudited) (Unaudited)

Notes HK$'000 HK$'000

Other comprehensive income

Item that may be reclassified subsequently to profit or loss:

Exchange differences on translating foreign operations 142 70

Other comprehensive income for the period, net of tax 142 70

Total comprehensive loss for the period (15,788) (10,978)

Loss for the period attributable to owners of the

Company (15,930) (11,048)

Total comprehensive loss for the period attributable to

owners of the Company (15,788) (10,978)

Loss per share attributable to owners of the Company

(Restated)

Basic and diluted (HK cents) 8 (0.284) (0.197)

The accompanying notes form an integral part of these condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 March 2017

Notes	At 31 March 2017 (Unaudited) HK$'000	At 30 September 2016 (Audited) HK$'000
Non-current assets Property, plant and equipment	10	326,825	3,343
Available-for-sale financial assets	5,950	5,950
332,775	9,293
Current assets Inventories	1,164	1,432
Trade receivables	11	1,237	1,137
Prepayments, deposits and other receivables	9,563	8,415
Financial assets at fair value through profit or loss	196	204
Tax recoverable	80	-
Pledged time deposits	5,059	5,044
Cash and bank balances	14,137	52,923
31,436	69,155
Current liabilities Trade payables	12	402	2,622
Accrued charges and other payables	40,455	23,397
Bank borrowings	4,500	4,500
Loan from the immediate holding company	336,200	50,000
381,557	80,519
Net current liabilities	(350,121)	(11,364)
Total assets less current liabilities	(17,346)	(2,071)
Non-current liability Deferred tax liabilities	513	-
Net liabilities	(17,859)	(2,071)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

At 31 March 2017

At At

31 March 30 September

2017 2016

(Unaudited) (Audited)

HK$'000 HK$'000

Equity

Capital and reserves attributable to owners of the Company

Share capital 51,659 51,659

Reserves (69,518) (53,730)

Total equity (17,859) (2,071)

The accompanying notes form an integral part of these condensed consolidated financial statements.