INTERNATIONAL ELITE LTD.‌‌‌‌‌‌

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1328)

Interim Report 2017

HIGHLIGHTS

  • Revenue for the six months ended 30 June 2017 was approximately HK$133,271,000, representing an increase of approximately 1% as compared to that for the six months ended 30 June 2016.

  • Loss attributable to equity holders of the Company for the six months ended 30 June 2017 was approximately HK$40,322,000, representing an increase of approximately 196% as compared to that for the six months ended 30 June 2016. The significant increase in loss attributable to equity holders of the Company for the six months ended 30 June 2017 was mainly attributable to (i) the increase in costs as compared to that for the six months ended 30 June 2016; (ii) the provisions for slow moving inventories of the RF-SIM business; and (iii) the loss of the PIMS business, resulting from the consolidation of the results of GLCH to the results of the Group.

UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30 JUNE 2017

The board of directors (the "Board") of International Elite Ltd. (the "Company") is pleased to present the unaudited condensed consolidated interim financial information of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017 (the "Relevant Period") together with the unaudited comparative figures for the corresponding period in 2016 (the "Last Corresponding Period") as follows:

INTERIM REPORT 2017 1 CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT

Note

2017

(Unaudited) HK$'000

2016

(Unaudited) HK$'000

Revenue Cost of sales

6

7(a)

133,271

(145,022)

132,607

(120,196)

Gross (loss)/profit

(11,751)

12,411

Other revenue

7,743

3,848

Other gain

-

4,736

Research and development expenses

7(a)

(3,391)

(4,128)

Administrative and other operating expenses

7(a)

(46,900)

(33,242)

Loss before income tax

(54,299)

(16,375)

Income tax credit

8

471

995

Loss for the period

(53,828)

(15,380)

Loss for the period attributable to:

(40,322)

(13,600)

- Equity holders of the Company

- Non-controlling interests

(13,506)

(1,780)

(53,828)

(15,380)

Loss per share attributable to equity holders

(0.44)

(0.15)

of the Company:

- Basic (HK cents)

10

- Diluted (HK cents)

10

(0.44)

(0.15)

For the six months ended 30 June

The notes on pages 7 to 26 form an integral part of these condensed consolidated interim financial information.

2 INTERNATIONAL ELITE LTD.

CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME

2017

(Unaudited) HK$'000

2016

(Unaudited) HK$'000

Loss for the period

(53,828)

(15,380)

Other comprehensive income/(loss)

Item that may be reclassified to profit or loss

- Fair value gain on an available-for-sale financial asset

-

10,880

- Currency translation differences

7,925

(6,051)

Total comprehensive loss for the period, net of tax

(45,903)

(10,551)

Total comprehensive loss for the period attributable to:

(32,783)

(8,427)

- Equity holders of the Company

- Non-controlling interests

(13,120)

(2,124)

(45,903)

(10,551)

For the six months ended 30 June

The notes on pages 7 to 26 form an integral part of these condensed consolidated interim financial information

INTERIM REPORT 2017 3

International Elite Ltd. published this content on 15 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 September 2017 23:08:02 UTC.

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