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SIM TECHNOLOGY GROUP LIMITED
(Incorporated in Bermuda with limited liability) (Stock code: 2000)
This announcement is made by SIM Technology Group Limited ("Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
The board of directors of the Company ("Board") wishes to inform the shareholders ("Shareholders") and potential investors of the Company that, based on the preliminary review of the unaudited consolidated management accounts of the Group and information currently available to the Company, it is expected that the revenue for the year ending 31 December 2019 ("FY2019") will drop significantly as compared to that for the year ended 31 December 2018 ("FY2018") and the Group is expected to record a loss attributable to shareholders of the Company for FY2019, as compared to a profit of approximately HK$215 million recorded for FY2018. Based on the unaudited consolidated management accounts of the Group for the 10 months ended 31 October 2019, the Group recorded a loss of approximately HK$92 million attributable to shareholders of the Company. .
The factors affecting the Group's financial performance during the first half of the year continue to affect the Group in the second half of 2019. Please refer to the factors disclosed in the Company's profit warning announcement dated 27 June 2019 and the Company's interim report for the six months ended 30 June 2019 for further details.
The information contained in this announcement is only based on a preliminary assessment by
the Board with reference to the unaudited consolidated management accounts of the Group and information currently available to the Company, and is not based on any figures or information which have been audited or reviewed by the Company's auditors. The Company is still in the process of finalising the consolidated results of the Group for FY2019 which are subject to review by the Company's independent auditor and review and approval by the Company's Audit Committee and the Board. Finalised annual results of the Group and other details will be disclosed in the 2019 annual report to be published by the Company.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
By order of the Board
SIM Technology Group Limited
Wong Cho Tung
4 December 2019
As at the date of this announcement, the executive directors of the Company are Ms Yeung Man Ying, Mr Wong Cho Tung, Ms Tang Rongrong and Mr Liu Jun, and the independent non-executive directors of the Company are Mr Liu Hing Hung, Mr Wang Tianmiao and Mr Wu Zhe.
For identification purposes only
SIM Technology Group Ltd. published this content on 04 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2019 04:07:11 UTC