Artini : 2020-11-26 ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

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.

Artini Holdings Limited

雅天妮集團有限公司

(Incorporated in the Bermuda with limited liability)

(Stock Code: 789)

ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

The board (the "Board") of directors (the "Directors") of Artini Holdings Limited (the "Company") hereby presents the unaudited condensed consolidated financial statements of the Company and its subsidiaries (collectively the "Group") for the six months ended 30 September 2020 (the "Period") together with the comparative figures for the corresponding period in 2019.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 September 2020

		For the six months ended
		30 September
		2020		2019
		(Unaudited)	(Unaudited)
	Notes	HK$'000	HK$'000
Revenue	3	44,041		146,570
Cost of sales		(43,070)	(107,658)
Gross profit		971		38,912
Other income	4	164		172
Other gains and losses, net	5	(458)	698
Selling and distribution expenses		(3,226)	(9,546)
Administrative expenses		(14,154)	(17,058)
Finance costs	6	(58)	(45)
(Loss)/profit before income tax	7	(16,761)	13,133
Income tax expense	8	(1,205)	(4,436)
(Loss)/profit for the period		(17,966)	8,697
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		For the six months ended
		30 September
		2020		2019
		(Unaudited)	(Unaudited)
	Note	HK$'000	HK$'000
Other comprehensive income/(expense)
for the period, net of income tax
Item that may be reclassified subsequently to
profit or loss:
Exchange differences arising on translation of
foreign operations		8,474		(7,289)
Total comprehensive (expense)/income
for the period		(9,492)	1,408
(Loss)/earnings per share
Basic and diluted (HK$)	10	(0.016)	0.008

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 September 2020

			As at		As at
		30 September		31 March
		2020	2020
			(unaudited)		(audited)
	Notes		HK$'000		HK$'000
NON-CURRENT ASSETS		1,554
Property, plant and equipment		816
Goodwill		2,534	2,534
Right-of-use assets		4,685	741
Intangible assets		31,003	31,021
		39,776	35,112
CURRENT ASSETS
	41,266
Inventories		64,345
Trade and other receivables	11	77,094	50,473
Cash and bank balances		30,062	49,042
		148,422	163,860
CURRENT LIABILITIES
	8,084
Trade and other payables	12	7,880
Contract liabilities		704	9,164
Lease liabilities - current portion		1,454	865
Income tax payable		10,109	19,154
		20,351	37,063
NET CURRENT ASSETS		128,071	126,797
TOTAL ASSETS LESS CURRENT LIABILITIES		167,847	161,909
NON-CURRENT LIABILITIES
	3,258
Lease liabilities - non-current portion			-
Deferred tax liabilities		1	5
		3,259	5
NET ASSETS		164,588	161,904
CAPITAL AND RESERVES
	55,198
Share capital	13	55,198
Reserves		109,390	106,706
TOTAL EQUITY		164,588	161,904
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Notes to the Condensed Consolidated Financial Statements

1. BASIS OF PREPARATION
   The condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") as well as with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
2. PRINCIPAL ACCOUNTING POLICIES
   Other than changes in accounting policies resulting from application of new and amendments to Hong Kong Financial Reporting Standards ("HKFRSs"), the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 September 2020 are the same as those followed in the preparation of the Group's annual financial statements for the year ended 31 March 2020.

In the current interim period, the Group has applied, for the first time, the following new and amendments to HKFRSs issued by the HKICPA which are mandatory effective for the annual period beginning on or after

1 January 2020 for the preparation of the Group's condensed consolidated financial statements:

Amendments to HKFRS 3	Definition of a Business
Amendments to HKFRS 7, HKFRS 9 and	Interest Rate Benchmark Reform
HKAS 39
Amendments to HKAS 1 and HKAS 8	Definition of Material
Conceptual Framework for Financial	Conceptual Framework for Financial Reporting (Revised)
Reporting 2018

The adoption of these amendments to HKFRSs does not have any material impact on the presentation and disclosure of the Group's interim financial report. The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period.

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