Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  SIM Technology Group Limited    2000   BMG814741010

SIM TECHNOLOGY GROUP LIMITED

(2000)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/22
0.335 HKD   0.00%
2020SIM TECHNOLOGY : Unit Offloads 51% Equity Interest in Shanghai Jizhi Automation Technology
MT
2020SIM TECHNOLOGY : Names New CEO
MT
2020SIM TECHNOLOGY : Interim report 2020
PU
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

SIM Technology : UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2019

08/22/2019 | 05:08am 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.

SIM TECHNOLOGY GROUP LIMITED

晨 訊 科 技 集 團 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock code: 2000)

UNAUDITED RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2019

The board ("Board") of directors ("Directors") of SIM Technology Group Limited ("Company") hereby announces the unaudited consolidated results of the Company and its subsidiaries ("Group") for the six months ended 30 June 2019 ("1H-2019") together with the comparative figures for the six months ended

30 June 2018 ("1H-2018") as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED)

Six months ended 30 June

2019

2018

Notes

HK$'000

HK$'000

Revenue

3

517,177

1,528,556

Cost of sales and services

(463,875)

(1,401,903)

Gross profit

53,302

126,653

Other income

5

14,679

15,929

Other expenses

-

(90,499)

Other gains and losses

5

(23,679)

512,164

Research and development expenses

(48,836)

(29,910)

Selling and distribution costs

(36,836)

(71,173)

Administrative expenses

(49,971)

(62,225)

Share of results of an associate

(1,039)

(335)

Finance costs

(640)

(2,041)

(Loss) profit before taxation

(93,020)

398,563

Taxation

6

3,192

(81,479)

(Loss) profit for the period

7

(89,828)

317,084

(Loss) profit for the period attributable to:

(92,789)

Owners of the Company

330,047

Non-controlling interests

2,961

(12,963)

(89,828)

317,084

(Loss) earnings per share (HK cents)

9

(3.7)

Basic

12.9

Diluted

(3.7)

12.9

1

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

Six months ended 30 June

2019

2018

HK$'000

HK$'000

(Loss) profit for the period

(89,828)

317,084

Other comprehensive expense for the period:

Items that will not be subsequently reclassified to

profit or loss for the period:

Surplus on transfer of land use rights and property,

plant and equipment to investment properties

at fair value

23,146

6,757

Fair value gain (loss) on investment in equity instrument at

fair value through other comprehensive income

3,607

(18,355)

Deferred tax relating to items that will not be reclassified

to profit or loss

(6,689)

2,900

Exchange difference arising on translation to

presentation currency

4,070

(6,776)

Other comprehensive income (expense) for the period

24,134

(15,474)

Total comprehensive (expense) income for the period

(65,694)

301,610

Total comprehensive (expense) income attributable to:

Owners of the Company

(68,242)

316,540

Non-controlling interests

2,548

(14,930)

(65,694)

301,610

2

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 June

31 December

2019

2018

Notes

HK$'000

HK$'000

(unaudited)

(audited)

Non-current assets

Investment properties

511,100

479,282

Property, plant and equipment

297,392

306,179

Right-of-use assets

68,716

-

Land use rights

-

68,104

Intangible assets

129,927

147,950

Goodwill

3,831

-

Deferred tax assets

49,685

44,606

Finance lease receivables

-

328

Interest in associates

33,248

3,044

Equity instruments at fair value through other

comprehensive income ("FVTOCI")

15,717

39,149

Other receivables

8,549

8,793

Consideration receivables

4,805

4,796

1,122,970

1,102,231

Current assets

Inventories

376,359

372,846

Finance lease receivables

413

432

Properties held for sale

32,250

41,683

Trade and notes receivables

10

229,024

231,499

Contract assets

3,660

36,353

Other receivables, deposits and prepayments

349,806

423,913

Amount due from an associate

2,200

4,400

Amounts due from non-controlling

shareholders of subsidiaries

4,496

4,496

Consideration receivables

3,497

4,601

Entrusted loan receivables

-

25,946

Financial assets at fair value through profit

or loss ("FVTPL")

21,232

18,278

Pledged bank deposits

21,050

57,557

Bank balances and cash

705,846

647,776

1,749,833

1,869,780

3

30 June

31 December

2019

2018

Notes

HK$'000

HK$'000

(unaudited)

(audited)

Current liabilities

Trade and notes payables

11

168,916

184,822

Contract liabilities

258,047

219,345

Other payables, deposits received and accruals

68,490

50,498

Other liabilities

-

29,692

Bank borrowings

107,064

83,887

Lease liabilities

9,208

-

Tax payable

44,499

43,931

656,224

612,175

Net current assets

1,093,609

1,257,605

Total assets less current liabilities

2,216,579

2,359,836

Capital and reserves

Share capital

245,832

252,025

Reserves

1,800,101

1,907,009

Equity attributable to owners of the Company

2,045,933

2,159,034

Non-controlling interests

20,457

63,405

Total equity

2,066,390

2,222,439

Non-current liabilities

Lease liabilities

4,881

-

Deferred tax liabilities

107,916

98,200

Deferred income

37,392

39,197

150,189

137,397

2,216,579

2,359,836

4

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2019

  1. GENERAL INFORMATION AND BASIS OF PREPARATION
    The Company was incorporated in Bermuda as an exempted company under the Companies Act 1981 of Bermuda (as amended) with limited liability.
    The Company is an investment holding company. The principal activities of its subsidiaries are carrying out handsets and internet of things ("IOT") terminals business, electronic manufacturing services ("EMS") business, IOT system and online-to-offline ("O2O") business, intelligent manufacturing business, property development and property management in the People's Republic of China ("PRC").
    The functional currency of the Company is Renminbi ("RMB"). The condensed consolidated financial statements are presented in Hong Kong dollars ("HK$"), as the Directors of the Company consider that it is a more appropriate presentation for a company listed on The Stock Exchange of Hong Kong Limited ("Stock Exchange") and for the convenience of the shareholders.
    The condensed consolidated financial statements of the Group have been prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting" issued by the International Accounting Standards Board ("IASB") as well as the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on Stock Exchange.
  2. PRINCIPAL ACCOUNTING POLICIES
    The condensed consolidated financial statements have been prepared on the historical cost basis, except for investment properties and certain financial instruments that are measured at fair values at the end of each reporting period.
    Other than the change in accounting policies resulting from application of new and amendments to International Financial Reporting Standards ("IFRSs") accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2019 are the same as those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2018.
    Application of new and amendments to IFRS Standards
    In the current interim period, the Group has applied, for the first time, the following new and amendments to IFRSs issued by the International Accounting Standards Board ("IASB") which are mandatory effective for the annual period beginning on or after 1 January 2019 for the preparation of the Group's condensed consolidated financial statements.

IFRS 16

IFRIC 23 Amendments to IFRS 9 Amendments to IAS 19 Amendments to IAS 28 Amendments to IFRSs

Leases

Uncertainty over Income Tax Treatments Prepayment Features with Negative Compensation Plan Amendment, Curtailment or Settlement Long-term Interests in Associates and Joint Ventures Annual Improvements to IFRS Standards 2015-2017 Cycle

Except as described below, the application of the new and amendments to IFRSs in the current period has had no material impact on the Group's performance and financial positions for the current period and prior periods and/or on the disclosures set out in these condensed consolidated financial statements.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SIM Technology Group Ltd. published this content on 22 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2019 09:07:06 UTC


© Publicnow 2019
All news about SIM TECHNOLOGY GROUP LIMITED
2020SIM TECHNOLOGY : Unit Offloads 51% Equity Interest in Shanghai Jizhi Automation ..
MT
2020SIM TECHNOLOGY : Names New CEO
MT
2020SIM TECHNOLOGY : Interim report 2020
PU
2020SIM TECHNOLOGY : List of directors and their role and function
PU
2020SIM TECHNOLOGY : Resignation of director
PU
2020SIM TECHNOLOGY : Announcement
PU
2020SIM TECHNOLOGY : Announcement
PU
2020SIM TECHNOLOGY : Announcement
PU
2019SIM TECHNOLOGY : Announcement
PU
2019SIM TECHNOLOGY : Profit warning
PU
More news
Financials
Sales 2019 1 282 M 165 M 165 M
Net income 2019 -76,9 M -9,93 M -9,93 M
Net cash 2019 843 M 109 M 109 M
P/E ratio 2019 -8,35x
Yield 2019 -
Capitalization 791 M 102 M 102 M
EV / Sales 2018 0,10x
EV / Sales 2019 -0,17x
Nbr of Employees 1 610
Free-Float 48,5%
Chart SIM TECHNOLOGY GROUP LIMITED
Duration : Period :
SIM Technology Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SIM TECHNOLOGY GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Managers and Directors
NameTitle
Jun Gao Chief Executive Officer
Cho Tung Wong Group President & Executive Director
Man Ying Yeung Chairman
Chi Yin Chan Chief Financial Officer & Secretary
Jun Liu Group Chief Technical Officer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SIM TECHNOLOGY GROUP LIMITED-5.63%102
APPLE INC.3.15%2 339 611
SAMSUNG ELECTRONICS CO., LTD.7.16%526 208
XIAOMI CORPORATION-10.24%96 742
WINGTECH TECHNOLOGY CO.,LTD27.78%24 298
MERRY ELECTRONICS CO., LTD.-8.19%1 006