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    191   HK0000356805

LAI SUN GARMENT (INTERNATIONAL) LIMITED

(191)
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Lai Sun Garment International : PROFIT ALERT - REDUCTION IN LOSS

10/18/2021 | 08:52am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Stock Code: 191)

PROFIT ALERT - REDUCTION IN LOSS

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

The Board wishes to inform the Shareholders and potential investors that the consolidated loss attributable to owners of the Company for the Year is expected to decrease significantly by not less than 30% as compared to a net loss of approximately HK$1,965.9 million for the year ended 31 July 2020. The narrowed loss is primarily attributable to the reduction in net fair value losses on investment properties, the write-down of completed properties for sale to net realisable value and the impairment of right-of-use assets during the Year as compared to last year.

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

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

The principal activities of the Group include property investment, property development, investment in and operation of hotels and restaurants, media and entertainment, music production and distribution, films, video format products and television programmes production and distribution, cinema operation, cultural, leisure, entertainment and related facilities and investment holding.

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Based on the latest unaudited management accounts of the Group for the year ended 31 July 2021 ("Year"), the board of directors of the Company ("Board") wishes to inform shareholders of the Company ("Shareholders") and potential investors that the consolidated loss attributable to owners of the Company for the Year is expected to decrease significantly by not less than 30% as compared to a net loss of approximately HK$1,965.9 million for the year ended 31 July 2020. The narrowed loss is primarily attributable to the reduction in net fair value losses on investment properties, the write-down of completed properties for sale to net realisable value and the impairment of right-of-use assets during the Year as compared to last year.

The information contained in this announcement is only based on the preliminary assessment by the Group's management according to the information that is currently available. The Company is preparing its full year results which are subject to further review and assessment by the Company's audit committee, the Board and the independent auditor of the Company; and the audited annual results of the Group for the Year are expected to be published in late October 2021.

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

By Order of the Board

Lai Sun Garment (International) Limited

Chew Fook Aun

Executive Director and Deputy Chairman

Hong Kong, 18 October 2021

As at the date of this announcement, the Board comprises five executive directors, namely Dr. Lam Kin Ngok, Peter (Chairman), Mr. Chew Fook Aun (Deputy Chairman), Madam U Po Chu, Mr. Lam Kin Hong, Matthew and Mr. Lam Hau Yin, Lester (also alternate to Madam U Po Chu); and three independent non-executive directors, namely Messrs. Leung Shu Yin, William, Lam Bing Kwan and Chow Bing Chiu.

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Disclaimer

Lai Sun Garment (International) Limited published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 12:51:05 UTC.


ę Publicnow 2021
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Financials
Sales 2021 6 272 M 805 M 805 M
Net income 2021 -1 268 M -163 M -163 M
Net Debt 2021 20 079 M 2 577 M 2 577 M
P/E ratio 2021 -1,30x
Yield 2021 -
Capitalization 2 185 M 281 M 280 M
EV / Sales 2020 4,26x
EV / Sales 2021 3,42x
Nbr of Employees -
Free-Float 35,9%
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Managers and Directors
Chai Tuck Yip Chief Executive Officer
Kin Ngok Lam Chairman
Shu Yin Leung Independent Non-Executive Director
Bing Chiu Chow Independent Non-Executive Director
Bing Kwan Lam Independent Non-Executive Director