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    6088   KYG3R83K1037

FIT HON TENG LIMITED

(6088)
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FIT Hon Teng : CERTAIN FINANCIAL INFORMATION FOR THE THREE MONTHS ENDED MARCH 31, 2021

05/13/2021 | 04:28am EDT

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.

(Incorporated in the Cayman Islands with limited liability under the name Foxconn Interconnect Technology Limited

and carrying on business in Hong Kong as FIT Hon Teng Limited)

(Stock Code: 6088)

CERTAIN FINANCIAL INFORMATION

FOR THE THREE MONTHS ENDED MARCH 31, 2021

This announcement is made by FIT Hon Teng Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Pursuant to applicable disclosure requirements promulgated by the Taiwan Stock Exchange Corporation, Hon Hai Precision Industry Co., Ltd. (the Company's ultimate controlling shareholder whose shares are listed on the Taiwan Stock Exchange Corporation) is required to disclose, on a date which is expected to be on or before May 15, 2021, certain unaudited consolidated financial information of the Group for the three months ended March 31, 2021.

In order to facilitate timely dissemination of information to investors and potential investors in Hong Kong and Taiwan, the Company's board of directors (the "Board") would like to inform the Company's shareholders and potential investors of the following unaudited consolidated financial information of the Group for the three months ended March 31, 2021, which is extracted from the Group's latest unaudited management accounts and other information currently available:

IMPORTANT

As mentioned above, the Group's results for the three months ended March 31, 2021 set out in this announcement are unaudited, and are prepared in accordance with the relevant accounting standards. The Group's results of operations in the past have fluctuated and may in the future continue to fluctuate (possibly significantly) from one period to another. Accordingly, the Group's results of operations for any period should not be considered to be indicative of the results to be expected for any future period, and shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

1

Condensed Consolidated Balance Sheet

As of

March 31,

December 31,

March 31,

2021

2020

2020

US$' 000

US$' 000

US$' 000

(unaudited)

(audited)

(unaudited)

Current assets

3,174,649

2,848,113

2,523,928

Non-current assets

1,754,398

1,790,824

1,650,822

Current liabilities

(2,586,221)

(1,789,962)

(1,477,407)

Non-current liabilities

(89,956)

(658,599)

(654,596)

Total net assets

2,252,870

2,190,376

2,042,747

Note: The long-term Syndicated Loan Facility Agreement entered into by the Company, Mizuho Bank Ltd. and other 17 banks will be due within one year. Accordingly, the Company reclassified the borrowings as of March 31, 2021 to current liabilities.

Condensed Consolidated Income Statement

For the period from

January 1 to March 31,

2021

2020

US$' 000

US$' 000

(unaudited)

(unaudited)

Revenue and other operating revenue

1,000,857

822,921

Net profit from continuing operations

11,357

1,595

Condensed Consolidated Statement of Comprehensive Income

For the period from

January 1 to March 31,

2021

2020

US$' 000

US$' 000

(unaudited)

(unaudited)

Net profit from continuing operations

11,357

1,595

Other comprehensive loss, net of tax

(11,558)

(37,623)

Total comprehensive loss

(201)

(36,028)

Total comprehensive income (loss) attributable to

owners of the Company

1,029

(34,756)

Total comprehensive loss attributable to non-controlling interests

(1,230)

(1,272)

2

Condensed Consolidated Statement of Cash Flows

For the three-month

period ended March 31,

2021

2020

US$' 000

US$' 000

(unaudited)

(unaudited)

Net cash generated from operating activities

53,173

5,914

Net cash used in investing activities

(43,541)

(75,985)

Net cash generated from financing activities

389,156

105,160

Effect of foreign exchange changes

(12,218)

(31,879)

Net increase in cash and cash equivalents

386,570

3,210

Cash and cash equivalents, beginning of period

766,112

892,111

Cash and cash equivalents, end of period

1,152,682

895,321

The above information is subject to possible adjustments following further internal review, and is not based on any figure(s) or information which has/have been reviewed by the Company's auditors or audit committee.

The finalised unaudited consolidated interim results of the Group and other related details will be disclosed in the 2021 interim results announcement and interim report to be published by the Company.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

FIT Hon Teng Limited*

LU Sung-Ching

Chairman of the Board

Hong Kong, May 12, 2021

As of the date of this announcement, the Board comprises Mr. LU Sung-Ching, Mr. LU Pochin Christopher and Mr. PIPKIN Chester John as executive directors, and Mr. CURWEN Peter D, Mr. TANG Kwai Chang, Mr. CHAN Wing Yuen Hubert and Mr. TRAINOR-DEGIROLAMO Sheldon as independent non-executive directors.

  • Incorporated in the Cayman Islands with limited liability under the name Foxconn Interconnect Technology Limited and carrying on business in Hong Kong as FIT Hon Teng Limited

3

Disclaimer

Foxconn Interconnect Technology Ltd. published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 08:27:02 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 4 212 M - -
Net income 2021 173 M - -
Net Debt 2021 302 M - -
P/E ratio 2021 10,6x
Yield 2021 2,03%
Capitalization 1 808 M 1 808 M -
EV / Sales 2021 0,50x
EV / Sales 2022 0,43x
Nbr of Employees 55 402
Free-Float 21,4%
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Mean consensus HOLD
Number of Analysts 6
Average target price 0,37 $
Last Close Price 0,26 $
Spread / Highest target 77,2%
Spread / Average Target 41,2%
Spread / Lowest Target 6,00%
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Managers and Directors
NameTitle
Sung Ching Lu Chairman & Chief Executive Officer
Chin Tsun Lin Director-Financial & Accounting
Peter D. Curwen Independent Non-Executive Director
Kwai Chang Tang Independent Non-Executive Director
Wing Yuen Chan Independent Non-Executive Director
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