Kingboard Copper Foil : Financial statement and dividend announcement for the period ended September 30, 2018

KINGBOARD COPPER FOIL HOLDINGS LIMITED

FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE PERIOD ENDED SEPTEMBER 30, 2018

PART I INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3) HALF-YEAR AND FULL YEAR RESULTS

1(a)

An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group

3 Months ended

September 30, September 30, %

2018	2017	Change
HK$'000	HK$'000
Revenue	144,172	150,120	-3.96%
Cost of sales	(123,783)	(129,055)	-4.09%
Gross profit	20,389	21,065	-3.21%
Other operating income	676	660	2.42%
Distribution costs	(5,395)	(5,179)	4.17%
Administrative expenses	(5,801)	(6,384)	-9.13%
Share of losses of an associate	(1,488)	(1,110)	34.05%
Profit before tax	8,381	9,052	-7.41%
Income tax expense	(2,057)	(2,423)	-15.11%
Profit for the period	6,324	6,629	-4.60%
Profit for the period
attributable to:
Owners of the Company	5,918	5,670	4.37%
Non-controlling interests	406	959	-57.66%

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Profit for the period has been arrived at after (crediting) charging:

Group

3 Months ended September 30, September 30,2018

2017

% Change

HK$'000

HK$'000

Other operating income including interest income Depreciation of property, plant and equipment Amortisation of prepaid land use rights

(676)

(660) 2.42%

19,968

270

21,642 -7.73%

270 0.00%

1(b)(i)A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.

Group
As at	As at
September	December	September
30, 2018	31, 2017	30, 2018
HK$'000	HK$'000	HK$'000
ASSETS
Current assets:
Cash and bank balances	1,713,223	1,691,732	-
Trade and other receivables
and prepayments	72,666	78,331	166
Bills receivable	45,780	42,476	-
Other current assets	656,619	-	-
Prepaid land use rights	1,020	1,074	-
Inventories	24,627	24,273	-
Total current assets	2,513,935	1,837,886	166
Non-current assets:
Investment in subsidiaries	-	-	393,775
Investment in an associate	32,532	36,571	12,326
Due from a subsidiary	-	-	882,093
Investment property	5,777	6,081	-
Property, plant and equipment	264,390	327,928	-
Prepaid land use rights	33,498	36,068	-
Other non-current assets	-	691,213	-
Goodwill	238	238	-
Total non-current assets	336,435	1,098,099	1,288,194
Total assets	2,850,370	2,935,985	1,288,360
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Company As at

As at December 31, 2017

HK$'000

- 166 - - - -

166

393,775 12,326 884,038 - - - - - 1,290,139 1,290,305

Group
As at	As at
September	December	September
30, 2018	31, 2017	30, 2018
HK$'000	HK$'000	HK$'000
LIABILITIES AND EQUITY
Current liabilities:
Due to a subsidiary	-	-	2,713
Bills payable	1,521	2,290	-
Trade and other payables	113,309	104,344	2,435
Income tax payable	9,616	9,619	38
Total current liabilities	124,446	116,253	5,186
Non-current liability:
Deferred tax liabilities	4,793	4,793	-
Total non-current liability	4,793	4,793	-
Total liabilities	129,239	121,046	5,186
Capital and reserves and
non-controlling interests:
Share capital	560,200	560,200	560,200
Reserves	2,134,264	2,227,441	722,974
Equity attributable to owners of
the Company	2,694,464	2,787,641	1,283,174
Non-controlling interests	26,667	27,298	-
Total equity	2,721,131	2,814,939	1,283,174
Total liabilities and equity	2,850,370	2,935,985	1,288,360
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Company As at

As at December 31, 2017

HK$'000

2,713 - 2,435 38

5,186

- - 5,186

560,200 724,919

1,285,119 - 1,285,119 1,290,305

1(b)(ii)Aggregate amount of group's borrowing and debt securities.

Amount repayable in one year or less, or on demand

As at September 30, 2018 As at December 31, 2017

Secured	Unsecured	Secured	Unsecured
HK$'000	HK$'000	HK$'000	HK$'000
-	-	-	-

Amount repayable after one year

As at September 30, 2018

As at December 31, 2017

Secured	Unsecured	Secured	Unsecured
HK$'000	HK$'000	HK$'000	HK$'000
-	-	-	-
Details of any collateral
Not applicable.

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1(c)A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.

3 Months ended September 30, September 30, 2018 2017

HK$'000 HK$'000

Operating activities:

Profit before tax	8,381	9,052
Adjustments for:
Depreciation of property, plant and equipment	19,968	21,642
Amortisation of prepaid land use rights	270	270
Interest income	(523)	(477)
Share of losses of an associate	1,488	1,110
Operating cash flow before movements in working capital	29,584	31,597
Trade and other receivables and prepayments	(3,123)	(9,063)
Bills receivable	(4,566)	(1,083)
Inventories	(3,405)	(1,385)
Trade and other payables	(1,461)	2,405
Bills payable	(1,107)	166
Cash generated from operations	15,922	22,637
Income tax paid	(1,827)	(2,341)
Interest received	523	477
Net cash from operating activities	14,618	20,773
Investing activities:
Purchase of property, plant and equipment	(3,523)	(1,399)
Net cash used in investing activities	(3,523)	(1,399)
Financing activities:
Dividend paid to non-controlling interests of a subsidiary	(701)	0
Net cash used in financing activities	(701)	0
Net increase in cash and bank balances	10,394	19,374
Cash and bank balances at the beginning of the period	1,720,910	1,602,548
Effect of exchange rate changes on the balance of
cash and bank held in foreign currencies	(18,081)	17,773
Cash and bank balances at the end of the period	1,713,223	1,639,695

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