Jia Meng : ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017.pdf

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JIA MENG HOLDINGS LIMITED

家 夢 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8101)

ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2017

CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET (''GEM'') OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE ''STOCK EXCHANGE'')

GEM has been positioned as a market designed to accommodate companies to which a high investment risk may be attached. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. Furthermore, there may be risks arising out of the emerging nature of companies listed on GEM and the business sectors or countries in which the companies operate. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.

Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

This announcement, for which the directors (the''Directors'') of Jia Meng Holdings Limited (the''Company'') collectively and individually accept full responsibilities, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM (the''GEM Listing Rules'') of the Stock Exchange for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive; and (2) there are no other matters the omission of which would make any statement in this announcement misleading.

The Board of Directors (the''Board'') of the Company is pleased to announce the audited consolidated financial results of the Company and its subsidiaries (the''Group'') for the year ended 31 March 2017 (the''Reporting Year''), together with the comparative figures for the corresponding periods in 2016, as follows:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 March 2017
2017 Notes HK$'000	2016 HK$'000
Continuing operations Revenue 5 52,830	57,511
Cost of sales (41,731)	(44,931)
Gross profit 11,099	12,580
Other income 5 8,456	3,407
Selling and distribution expenses (4,279)	(3,290)
Administrative expenses (36,577)	(21,445)
Research expenses (710)	(2,400)
Impairment on trade and other receivables (7,495)	(8,579)
Other operating expenses - Fair value gain on financial assets at fair value through profit or loss 163,626	(1,666) 12,939
Fair value gain on investment properties 13,000 Share of result of an associate 570 Finance costs 6 (2,970)	2,789 - (1,983)
Profit/(Loss) before income tax 7144,720	(7,648)
Income tax expenses 8 (28,053)	(1,659)

Profit/(Loss) after taxation from continuing

operations 116,667 (9,307)

Discontinued operations

Profit from discontinued operations -2,960

Profit/(Loss) for the year 116,667(6,347)

Other comprehensive income/(expenses) that may be reclassified subsequently to profit or loss

Exchange difference arising on translation of financial

statement of foreign operations (2,412)(2,512)

Total comprehensive income/(loss) for the year 114,255 (8,859)

2017 2016

Notes HK$'000 HK$'000

Profit/(Loss) for the year attributable to Owners of the Company:

From continuing operations 116,820(9,191) From discontinued operations -2,960

116,820(6,231)

Profit/(Loss) for the year attributable to non-controlling interests:

From continuing operations From discontinuing operations	(153) -	(116) -
(153)	(116)
Profit/(Loss) for the year	116,667	(6,347)
Total comprehensive income/(loss) for the year attributable to: - Owners of the Company
From continuing operations	114,407	(11,303)
From discontinued operations	-	2,960
114,407	(8,343)
- Non-controlling interests From continuing operations	(152)	(516)
From discontinued operations	-	-
(152)	(516)
Earnings/(Loss) per share Earnings/(Loss) per share -Basic From continuing and discontinued operations	10	HK$0.46 cents	HK$(0.45) cents
From continuing operations From discontinued operations	HK$0.46 cents -	HK$(0.66) cents HK$0.21 cents
Earnings/(Loss) per share -Diluted From continuing and discontinued operations	HK$0.45 cents	HK$(0.45) cents
From continuing operations From discontinued operations	HK$0.45 cents -	HK$(0.66) cents HK$0.21 cents

CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 March 2017
2017	2016
Notes	HK$'000	HK$'000
ASSETS AND LIABILITIES
Non-current assets
Property, plant and equipment	5,249	5,745
Prepaid premium for land leases	7,298	8,012
Investment properties	206,500	19,000
Intangible assets	2,730	-
Investment in an associate	9,825	-
Convertible Bonds receivable	2,174	-
Prepayment	1,300	-
Deferred tax assets	-	692
Total non-current assets	235,076	33,449
Current assets
Inventories	1,882	2,111
Financial assets at fair value through profit or loss	165,160	13,679
Trade and other receivables	11	75,444	70,085
Loan receivables	20,000	-
Tax receivables	-	345
Cash and cash equivalents	20,181	174,467
Total current assets	282,667	260,687
Total assets	517,743	294,136
Current liabilities
Trade and other payables	12	31,079	10,665
Tax payables	5,962	1,203
Bank and other borrowings	13	42,803	36,048
Total current liabilities	79,844	47,916
Net current assets	202,823	212,771
Total assets less current liabilities	437,899	246,220