International Elite : INTERIM REPORT 2016【PDF file】

INTERIM REPORT 2016‌‌‌‌‌‌

HIGHLIGHTS

• Revenue for the six months ended 30 June 2016 was approximately HK$132,607,000, representing a drop of approximately 1% as compared to that for the six months ended 30 June 2015.

• Loss attributable to equity holders of the Company for the six months ended 30 June 2016 was approximately HK$13,600,000. The loss for the six months ended 30 June 2016 was mainly attributable to (i) the decrease in sales of RF-SIM products as compared to that in the six months ended 30 June 2015; and (ii) the provision for obsolete and slow-moving inventories.

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016

The board of directors (the "Board") of International Elite Ltd. (the "Company") is pleased to present the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2016 (the "Relevant Period") together with the unaudited comparative figures for the corresponding period in 2015 (the "Last Corresponding Period") as follows:

INTERIM REPORT 2016 1 CONDENSED CONSOLIDATED INCOME STATEMENT

Note		2016 (Unaudited) HK$'000	2015 (Unaudited) HK$'000
Revenue Cost of sales	6 7(a)	132,607 (120,196)	134,267 (108,696)
Gross profit	12,411	25,571
Other revenue	3,848	6,037
Other gain	12	4,736	-
Research and development expenses	7(a)	(4,128)	(4,817)
Administrative and other operating expenses	7(a)	(33,242)	(24,270)
(Loss)/profit before income tax	(16,375)	2,521
Income tax credit/(expense)	8	995	(236)
(Loss)/profit for the period		(15,380)	2,285
(Loss)/profit attributable to:		(13,600)	2,285
- Equity holders of the Company
- Non-controlling interests		(1,780)	-
(15,380)	2,285
(Loss)/earnings per share attributable to equity holders of the Company: basic diluted	10 10	HK (0.15) cent HK (0.15) cent	HK 0.03 cent HK 0.03 cent

For the six months ended 30 June

The notes on pages 7 to 25 form an integral part of these condensed consolidated financial information.

2 INTERNATIONAL ELITE LTD.

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

2016 (Unaudited) HK$'000	2015 (Unaudited) HK$'000
(Loss)/profit for the period	(15,380)	2,285
Other comprehensive (loss)/income
Item that may be reclassified to profit or loss
- Fair value gain on an available-for-sale financial asset	10,880	25,856
- Currency translation differences	(6,051)	129
Total comprehensive (loss)/income for the period, net of tax	(10,551)	28,270
Total comprehensive (loss)/income for the period attributable to:	(8,427)	28,270
- Equity holders of the Company
- Non-controlling interests	(2,124)	-
(10,551)	28,270

For the six months ended 30 June

The notes on pages 7 to 25 form an integral part of these condensed consolidated financial information.

INTERIM REPORT 2016 3