CENTRAL DEVELOPMENT HOLDINGS LIMITED 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.
中發展控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 475)The board (the 'Board') of directors (the 'Directors') of Zhong Fa Zhan Holdings Limited (the 'Company') is pleased to announce the unaudited interim results of the Company and its subsidiaries (the 'Group') for the six months ended 30 September 2015 which have been reviewed by the Company's audit committee and external auditor, together with the comparative figures for the corresponding previous period as follows:
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015
NOTES | 2015 HK$'000 (unaudited) | 2014 HK$'000 (unaudited) | |
Revenue | 3 | 9,742 | 38,009 |
Cost of sales | (9,265) | (33,932) | |
Gross profit | 477 | 4,077 | |
Other income | 81 | 58 | |
Other gains and losses | 4 | 149 | 201 |
Distribution costs | (1,341) | (2,590) | |
Administrative expenses | (10,753) | (10,849) |
NOTES | 2015 HK$'000 (unaudited) | 2014 HK$'000 (unaudited) | ||
Loss before taxation | (11,387) | (9,103) | ||
Taxation | 5 | - | - | |
Loss for the period | 6 | (11,387) | (9,103) | |
Other comprehensive expense for the period | ||||
Item that will not be reclassified to profit or loss: | ||||
Exchange differences arising on translation | (367) | (230) | ||
Total comprehensive expense for the period | (11,754) | (9,333) | ||
Loss per share | 7 | |||
Basic and diluted (HK cents) | (3.87) | (3.22) | ||
AT 30 SEPTEMBER 2015
Non-current asset Property, plant and equipment | NOTES | At 30 September 2015 HK$'000 (unaudited) 1,777 | At 31 March 2015 HK$'000 (audited) 2,384 |
Current assets Inventories | 5,240 | 11,607 | |
Trade receivables | 9 | 6,332 | 7,605 |
Deposits, prepayments and other receivables | 1,964 | 1,487 | |
Bank balances and cash | 32,786 | 14,758 | |
46,322 | 35,457 | ||
Current liabilities Trade payables | 10 | 36 | 2,110 |
Other payables and accruals | 11 | 7,435 | 3,288 |
Loan from a controlling shareholder | 12 | 7,585 | 6,953 |
15,056 | 12,351 | ||
Net current assets | 31,266 | 23,106 | |
Total assets less current liabilities | 33,043 | 25,490 | |
Capital and reserves Share capital | 13 | 3,031 | 2,938 |
Reserves | 30,012 | 22,552 | |
Equity attributable to owners of the Company | 33,043 | 25,490 |
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015
Share capital HK$'000 | Share premium HK$'000 | Share options reserve HK$'000 | Exchange reserve HK$'000 | Accumulated losses HK$'000 | Total HK$'000 | |
At 1 April 2015 (audited) | 2,938 | 76,559 | 2,615 | 7,581 | (64,203) | 25,490 |
Loss for the period Other comprehensive expense | - | - | - | - | (11,387) | (11,387) |
for the period - - - (367) - (367)
Total comprehensive expense
for the period - - - (367) (11,387) (11,754)
Issue of new shares (Note 13) | 90 | 18,810 | - | - - 18,900 |
Exercise of share options Transaction cost attributable to issue of new shares | 3 - | 660 (52) | (204) - | - - 459 - - (52) |
At 30 September 2015 (unaudited) | 3,031 | 95,977 | 2,411 | 7,214 (75,590) 33,043 |
At 1 April 2014 (audited) | 2,736 | 32,243 | 16,347 | 8,047 (42,083) 17,290 |
Loss for the period Other comprehensive expense | - | - | - | - (9,103) (9,103) |
for the period - - - (230) - (230)
Total comprehensive expense
for the period - - - (230) (9,103) (9,333)
Transfer upon lapse of share options | - | - | (34) | - 34 | - |
Exercise of share options | 202 | 44,316 | (13,698) | - - | 30,820 |
At 30 September 2014 (unaudited) 2,938 76,559 2,615 7,817 (51,152) 38,777
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