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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Coolpad Group Limited    CHWTF   KYG2418K1004

COOLPAD GROUP LIMITED

(CHWTF)
  Report
Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 01/22 03:16:43 pm
0.039 USD   --.--%
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Coolpad : CLARIFICATION ANNOUNCEMENT REGARDING MEDIA ARTICLES AND UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

12/09/2019 | 08:51am EST

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.

COOLPAD GROUP LIMITED

酷 派 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2369)

CLARIFICATION ANNOUNCEMENT REGARDING MEDIA ARTICLES

AND

UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS

This announcement is made by Coolpad Group Limited (the "Company") at the request of The Stock Exchange of Hong Kong Limited.

The board of directors (the "Board") of the Company has noted the recent increase in the price and trading volume of the shares of the Company. The Board also noted that certain media articles recently reported that Mr. Liang Rui ("Mr. Liang"), an executive director and chief executive officer of the Company, had made the following statements at a staff forum of the Company:

"In 2018, the Company was loss-making. Since the resumption of trading in July this year, the

Company has been making profit every month. There should be no loss-makingthis year, and fight for profit-makinginstead of loss-makingnext year. (截至2018年,公司還處於虧損,今年7月成 功復牌後,每個月開始盈利,今年可以做到不虧損,明年爭取實現扭虧為盈。)"

The Board would like to clarify that the above statements with respect to the financial performance (including the references to profit- or loss-making) for 2019 and 2020 were Mr. Liang's personal view and wishes only. Although, based on the unaudited management accounts of the Company (which are not prepared based on the Hong Kong Financial Reporting Standards), the Company has been making profits from business operations during the period from July to November 2019, the Board considers that such figures may not present an accurate picture of the Company's final financial performance for the year ended 31 December 2019, which will be subject to other variables including without limitation the performance of December 2019, the effects of exchange rate and non-operating expenses. In addition, the financial results of the Company for the year ended 31 December 2019 will also be subject to review and audit by the Company's audit committee and auditors. Mr. Liang confirmed that the statements were only his expectation on the staff members and were made to encourage staff members to work hard, and the statements were not intended to form part of the information to be published by the Company in relation to its business or financial performance, and do not reflect any forecast of the Company's future operations, financial or business position. The Company wishes to emphasise that it has not made any profit forecasts.

1

The Board would like to remind the shareholders of the Company (the "Shareholders") and potential investors of the Company that any information or statements relating to the Company and/or its subsidiaries which have not been included in any announcements published by the Company must not be relied upon or be construed as having been authorised by the Company or any of its directors, employees, agents or representatives. Shareholders and potential investors of the Company are advised to exercise caution in dealing in the securities of the Company.

This announcement is made by the order of the Company. The Board collectively and individually accepts responsibility for the accuracy of this announcement.

By order of the Board

Coolpad Group Limited

Ma Fei

Executive Director

Joint Company Secretary

Hong Kong, 9 December 2019

As at the date of this announcement, the executive Directors are Mr. Chen Jiajun, Mr. Liang Rui, Mr. Ma Fei, Mr. Xu Yibo and Mr. Lam Ting Fung Freeman; the non-executive Director is Mr. Ng Wai Hung; the independent non-executive Directors are Dr. Huang Dazhan, Mr. Xie Weixin, Mr. Chan King Chung and Mr. Guo Jinghui.

2

Disclaimer

Coolpad Group Ltd. published this content on 09 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2019 13:50:09 UTC


© Publicnow 2019
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Financials
Sales 2019 1 858 M 240 M 240 M
Net income 2019 112 M 14,5 M 14,5 M
Net Debt 2019 230 M 29,6 M 29,6 M
P/E ratio 2019 1,62x
Yield 2019 -
Capitalization 1 975 M 255 M 255 M
EV / Sales 2018 2,73x
EV / Sales 2019 1,00x
Nbr of Employees 684
Free-Float 52,4%
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Managers and Directors
NameTitle
Jia Jun Chen Chairman & Chief Executive Officer
Yi Bo Xu COO, Executive Director & Executive VP
Wen Yan Pan Chief Information Officer
King Chung Chan Independent Non-Executive Director
Da Zhan Huang Independent Non-Executive Director
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