International Elite : PROFIT WARNING 【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) PROFIT WARNING

This announcement is made by the Company pursuant to Inside Information Provisions under Part XIVA of the SFO and Rule 13.09(2)(a) of the Listing Rules.

The Board wishes to inform the shareholders of the Company and potential investors that based on the preliminary assessment of the Group's unaudited consolidated management accounts for the year ended 31 December 2016 and information currently available to the Board, the Group expects to record a loss for the year ended 31 December 2016 as compared to the profit for the year ended 31 December 2015.

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

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

The board (the "Board") of directors of the Company (the "Directors") wishes to inform the shareholders of the Company and potential investors that based on the preliminary assessment of the Group's unaudited consolidated management accounts for the year ended 31 December 2016 and information currently available to the Board, the Group expects to record a loss for the year ended 31 December 2016 as compared to the profit for the year ended 31 December 2015.

To the best of the Director's knowledge, the loss for 2016 is mainly attributable to a number of factors as below:

• decrease in revenue from the RF-SIM business;

• increase in costs from the call centre business; and

• the loss of Global Link Communications Holdings Limited ("GLCH Group") is consolidated to the results of our Group from the date of completion of the subscription of shares in GLCH Group in April 2016 up to 31 December 2016.

During the course of audit work, our auditors are of the view that the GLCH Group should remain as a subsidiary group of the Company and its financial results should remain to be consolidated after completion of the distribution in specie of 254,336,880 shares in GLCH Group as previously announced by the Company on 16 November 2016. The Board adopts and agrees with such view from the auditors.

The information contained in this announcement is only based on the preliminary assessment made by the Board with reference to the unaudited consolidated management accounts of the Group for the year ended 31 December 2016 and information currently available and such information has not been audited, confirmed and/or reviewed by the auditor of the Company. It is therefore, subject to finalization and necessary adjustments. Shareholders of the Company and potential investors are advised to read carefully the annual results announcement of the Company for the year ended 31 December 2016 which is expected to be announced by the end of March 2017.

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

International Elite Ltd. Li Kin Shing

Chairman

Hong Kong, 21 March 2017

As at the date of this announcement, the executive Directors are Mr. Li Kin Shing, Ms. Li Yin, Mr. Wong Kin Wa and Mr. Li Wen and the independent non-executive Directors are Mr. Chen Xue Dao, Mr. Cheung Sai Ming and Mr. Liu Chun Bao.