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    1383   KYG8572D1135

SUNCITY GROUP HOLDINGS LIMITED

(1383)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-05-12 am EDT
0.0560 HKD   -5.08%
03/29Suncity Group Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2021
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03/24Suncity to Swing to Loss in 2021; JV Defaults on $30 Million Loan; Shares Fall 5%
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03/23Suncity Group Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2021
CI
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Suncity Group Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2021

03/23/2022 | 07:55am EDT

Suncity Group Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2021. The board of directors of the Company wishes to inform the shareholders of the Company ("Shareholders") and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021 (the "Reporting Period"), the Group is expected to record a loss for the year attributable to Shareholders of not less than approximately HKD 526.5 million as compared to the profit for the year attributable to Shareholders of approximately HKD 795.7 million for the year ended 31 December 2020. Attributed to the completion of disposal of a subsidiary (the "Discontinued Operations") as disclosed in the announcement of the Company dated 30 June 2021, the Company's functional currency and the presentation currency of the Company's and the Group's financial statements have been changed to Hong Kong dollar ("HKD") during the Reporting Period, which shall better reflect and present the consolidated financial results to the Shareholders. As a result, the comparative information of the Group's consolidated financial statements has been restated and presented in HKD as if HKD had been the Group's presentation currency for the prior periods. Details of the changes in functional currency and presentation currency of the Company and the Group and the financial impacts will be further disclosed in the annual results announcement and the annual report for the Reporting Period of the Group.


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Financials
Sales 2021 340 M 50,9 M 50,9 M
Net income 2021 -258 M -38,6 M -38,6 M
Net Debt 2021 1 530 M 229 M 229 M
P/E ratio 2021 -0,81x
Yield 2021 -
Capitalization 318 M 47,6 M 47,6 M
EV / Sales 2020 26,0x
EV / Sales 2021 6,51x
Nbr of Employees 1 103
Free-Float 25,0%
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Managers and Directors
King Yan Chiu Chief Financial Officer & Secretary
Kam Fun Wu Independent Non-Executive Director
Kin Chuen Tou Independent Non-Executive Director
Wai Tung Lo Independent Non-Executive Director
Kai Bong Lo Executive Director