International Elite : INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2016【PDF file】

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INTERNATIONAL ELITE LTD.

精英國際有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1328) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2016 HIGHLIGHTS

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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.

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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 announce 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:

CONDENSED CONSOLIDATED INCOME STATEMENT For the six months ended 30 June 2016 2015 (Unaudited) (Unaudited)

Note HK$'000 HK$'000

Revenue	6	132,607	134,267
Cost of sales	7(a)	(120,196)	(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: - Equity holders of the Company	(13,600)	2,285
- Non-controlling interests	(1,780)	-

(Loss)/earnings per share attributable to (15,380) 2,285

equity holders of the Company: - basic	10	HK (0.15) cent	HK 0.03 cent
- diluted	10	HK (0.15) cent	HK 0.03 cent

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 30 June 2016 2015 (Unaudited) (Unaudited) HK$'000 HK$'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:
- Equity holders of the Company	(8,427)	28,270
- Non-controlling interests	(2,124)	-

(10,551) 28,270 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Note	As at 30 June 2016 (Unaudited) HK$'000	As at 31 December 2015 (Audited) HK$'000
ASSETS
Non-current assets
Property, plant and equipment	11	60,056	58,459
Goodwill	12	41,459	-
Intangible assets	60,770	36,679
Deferred tax assets	2,805	2,278
Available-for-sale financial asset	12	-	24,960
165,090	122,376
Current assets
Inventories	13	54,550	45,680
Trade and other receivables	14	156,947	109,713
Pledged bank deposit Time deposits with maturity over three months	15	1,185 -	- 8,004
Cash and cash equivalents	15	443,321	439,697
656,003	603,094
Total assets	821,093	725,470
EQUITY
Capital and reserves attributable to equity holders of the Company
Share capital	16	90,835	90,835
Reserves	598,500	611,663
689,335	702,498
Non-controlling interests	61,239	-
Total equity	750,574	702,498
LIABILITIES
Non-current liabilities
Deferred tax liabilities	2,823	3,131
Provision for long service payments	56	-
2,879	3,131
Current liabilities
Trade and other payables	17	52,899	13,187
Current income tax payables	14,741	6,654
67,640	19,841
Total liabilities	70,519	22,972
Total equity and liabilities	821,093	725,470