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.

VIETNAM MANUFACTURING AND EXPORT PROCESSING (HOLDINGS) LIMITED 越南製造加工出口(控股)有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 422)

ANNOUNCEMENT UNAUDITED RESULTS

FOR THE THREE MONTHS ENDED 31 MARCH 2018

Financial Highlights:

expressed in US$' million

Three months ended 31 March

2018

2017

Change

(Unaudited)

(Unaudited)

Amount

Total revenue

18.5

20.8

(2.3)

Gross profit

0.3

1.6

(1.3)

Net loss after tax

(2.2)

(1.3)

(0.9)

Vietnam Manufacturing and Export Processing (Holdings) Limited (the "Company") hereby announce the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the three months ended 31 March 2018 in line with its current practice to publish the Group's financial results quarterly and pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571,

Laws of Hong Kong).

By order of the board

Vietnam Manufacturing and Export

Processing (Holdings) Limited

Liu Wu Hsiung

Chairman

Hong Kong, 10 May 2018

As at the date of this announcement, the board of directors of the Company comprised three executive directors, namely Mr. Liu Wu Hsiung, Mr. Lu Tien Fu and Mr. Lin Chun Yu, two non-executive directors, namely Mr. Chiu Ying Feng and Ms. Wu Li Chu and three independent non-executive directors, namely Ms. Lin Ching Ching, Mr. Shen Hwa Rong and Ms. Wu Kwei Mei.

Unaudited Consolidated Statement of Profit or Loss For the three months ended 31 March 2018

Three months ended 31 March

2018

2017

US$

US$

Revenue

18,459,180

20,799,844

Cost of sales

(18,132,667)

(19,228,479)

Gross profit

326,513

1,571,365

Other income

78,629

22,155

Distribution costs

(1,214,140)

(1,284,710)

Technology transfer fees

(198,532)

(485,187)

Administrative expenses

(2,070,962)

(1,790,124)

Other expenses

(10,492)

(10,752)

Results from operating activities

(3,088,984)

(1,977,253)

Finance income

1,100,435

989,404

Finance costs

(246,308)

(315,214)

Net finance income

854,127

674,190

Share of (loss)profit of an associate,

net of tax

(1,537)

17,166

Loss before taxation

(2,236,394)

(1,285,897)

Income tax

(2,815)

4,304

Loss for the period

(2,239,209)

(1,281,593)

Attributable to:

Equity holders of the Company

(2,239,209)

(1,281,593)

Note:

The Group's unaudited consolidated results for three months ended 31 March 2018 have been approved for issue by the board of directors of the Company on 10 May 2018. The first-quarterly results have been prepared in accordance with all applicable International Financial Reporting Standards issued by the International Accounting Standards Board, and have also adopted the same accounting policies as disclosed in the last annual report for the year ended 31 December 2017.

Unaudited Consolidated Statement of Financial Position At 31 March 2018

At 31 March

At 31 December

2018

2017

US$

US$

Non-current assets

Property, plant and equipment

13,552,487

14,095,943

Intangible assets

5,897

9,011

Lease prepayments

4,652,231

4,732,658

Interest in an associate

540,769

544,336

Deferred tax assets

1,667,007

1,322,531

20,418,391

20,704,479

-------------------

-------------------

Current assets

Inventories

16,988,791

18,958,820

Trade receivables, other receivables

and prepayments

21,190,145

19,828,211

Time deposits maturing after three months

82,779,069

88,805,816

Cash and cash equivalents

13,599,354

13,356,314

Current tax recoverable

-

25,504

134,557,359

140,974,665

-------------------

-------------------

Current liabilities

Trade and other payables

10,675,980

11,726,438

Bank loans

19,609,205

23,343,521

Current tax payable

107,989

-

Provisions

782,400

814,687

31,175,574

35,884,646

-------------------

-------------------

Net current assets

103,381,785

105,090,019

-------------------

-------------------

Total assets less current liabilities

123,800,176

125,794,498

-------------------

-------------------

Net assets

123,800,176

125,794,498

Capital and reserves

Share capital

1,162,872

1,162,872

Reserves

122,637,304

124,631,626

Total equity

123,800,176

125,794,498

Attachments

  • Original document
  • Permalink

Disclaimer

VMEPH - Vietnam Manufacturing and Export Processing Holdings Limited published this content on 10 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 May 2018 08:47:03 UTC