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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(0388)
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Hong Kong Exchanges and Clearing : Financial results of Taiwan Kong King Company Limited for the six months ended 30 June 2019

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08/14/2019 | 05:52am 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.

WONG'S KONG KING INTERNATIONAL (HOLDINGS) LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 532)

ANNOUNCEMENT

ON

FINANCIAL RESULTS OF TAIWAN KONG KING COMPANY LIMITED

FOR THE SIX MONTHS ENDED 30 JUNE 2019

The audited combined profit after tax of TKK Group for the six months ended 30 June 2019 was NT$50,677,000 (HK$12,856,755), representing a significant increase of 183.83% compared to the corresponding period in 2018.

This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board of directors (the "Board") of Wong's Kong King International (Holdings) Limited (the "Company") wishes to announce that its 67% owned subsidiary, Taiwan Kong King Company Limited ("TKK") whose shares are traded on Taiwan GreTai Securities Market, has just published its financial results for the six months ended 30 June 2019.

During the six months ended 30 June 2019, the audited combined financial results of TKK and its subsidiaries ("TKK Group") were as follows:

NT$

HK$

Turnover

738,684,000

187,404,131

Trading profit (gross)

192,725,000

48,894,333

Trading profit (net)

48,569,000

12,321,955

Profit before tax

64,497,000

16,362,889

Profit after tax

50,677,000

12,856,755

The audited combined profit after tax of TKK Group for the six months ended 30 June 2019 represents a significant increase of 183.83% compared to the corresponding period in 2018.

As at 30 June 2019, the audited combined total assets of TKK Group was NT$1,290,616,000 (HK$327,429,279) and the equity attributable to shareholders was NT$818,788,000

(HK$207,726,516).

An overseas regulatory announcement has been published by the Company in the Chinese section of the website of the Stock Exchange. Shareholders should note that the financial results of TKK as disclosed in the overseas regulatory announcement and this announcement were prepared in accordance with International Financial Reporting Standards starting from year 2013.

In this announcement, amounts denominated in New Taiwan dollars (NT$) have been converted into HK$ at the rate of NT$1 = HK$0.2537 for illustration purposes.

By Order of the Board

Wong's Kong King International (Holdings) Limited

Edward Ying-Chun Tsui

Director

Hong Kong, 14 August 2019

As at the date of this announcement, the executive directors of the Company are Mr. Senta Wong, Mr. Edward Ying-Chun Tsui, Mr. Byron Shu-Chan Ho, Mr. Bengie Man-Hang Kwong, Mr. Vinci Wong and Mr. Victor Jui-Shum Chang; the non-executive directors are Mr. Hamed Hassan El-Abd and Mr. Hsu Hung Chieh; and the independent non-executive directors are Mr. Philip Wan-Chung Tse, Dr. Leung Kam Fong, Dr. Yip Wai Chun, Mr. Arnold Hin Lin Tse and Mr. Andrew Yiu Wing Lam.

Disclaimer

HKEx - Hong Kong Exchanges and Clearing Ltd. 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 09:51:00 UTC

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Financials (HKD)
Sales 2019 16 670 M
EBIT 2019 11 513 M
Net income 2019 9 824 M
Finance 2019 60 704 M
Yield 2019 2,78%
P/E ratio 2019 32,1x
P/E ratio 2020 29,3x
EV / Sales2019 15,4x
EV / Sales2020 11,9x
Capitalization 317 B
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 278,41  HKD
Last Close Price 252,40  HKD
Spread / Highest target 34,7%
Spread / Average Target 10,3%
Spread / Lowest Target -14,8%
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Charles Xiaojia Li CEO & Ex-Officio Executive Director
May Lung Cha Chairman
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Kwok Keung Lee Joint Chief Operating Officer
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