Huabang Financial : ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2017

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(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3638) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2017

The Board of Directors (the "Board") of Huabang Financial Holdings Limited (the "Company") presents the audited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 March 2017 ("Current Year") together with the comparative audited figures of the corresponding year ended 31 March 2016 ("Last Corresponding Year").

CONSOLIDATED INCOME STATEMENT For the year ended 31 March 2017
Year ended 31 March
2017 2016
Note	HK$'000 HK$'000
Revenue	3	836,542 1,206,159
Cost of sales	4	(802,321) (1,144,529)
Gross profit	34,221 61,630
Selling expenses	4	(1,310) (1,873)
General and administrative expenses	4	(30,457) (19,078)
Other losses	5	(791) (1,129)
Operating profit	1,663 39,550
Gain on disposal of equity interest in an investment
accounted for using equity method	10	6,736 -
Gain on deemed partial disposal of equity interest in
an investment accounted for using equity method Share of loss of an investment accounted for	10	- 1,382
using equity method	10	(842)	(4,488)
Finance costs	6	(1,245)	(5,925)
Profit before income tax	6,312	30,519
Income tax expense	7	(923)	(7,071)
Profit for the year attributable to equity holders
of the Company	5,389	23,448

Earnings per share attributable to equity holders of the Company

Basic and diluted 8 HK0.15 cent HK0.67 cent

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 March 2017

Year ended 31 March

2017 HK$'000	2016 HK$'000
Comprehensive income Profit for the year	5,389	23,448
Other comprehensive income Item that may be subsequently reclassified to profit or loss Currency translation differences	(230)	(31)
Total comprehensive income for the year attributable to equity holders of the Company	5,159	23,417

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 March 2017

As at 31 March 2017 2016

ASSETS	Note	HK$'000	HK$'000
Non-current assets
Intangible assets	6,162	-
Property, plant and equipment	45,894	49,059
Investment accounted for using equity method	10	-	17,055
Deposits and prepayments - non-current portion	12	30,196	196
Deferred tax assets	2,413	28
84,665	66,338
Current assets
Inventories	494	16,632
Loan receivables	11	70,400	-
Trade receivables	12	88,477	187,588
Deposits, prepayments and other receivables	12	14,440	729
Income tax recoverable	3,364	-
Cash and cash equivalents	152,189	205,655
329,364	410,604
Total assets	414,029	476,942