Vinco Financial : THIRD QUARTERLY REPORT 2019

Third Quarterly Report 2019

CHARACTERISTICS OF THE GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and midsized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

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

This report, for which the directors of Vinco Financial Group Limited collectively and individually accept full responsibility, includes particulars given incompliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange ("GEM Listing Rules") for the purpose of giving information with regard to Vinco Financial Group Limited. The directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this report is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in this report misleading; and (3) all opinions expressed in this report have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

HIGHLIGHTS

• The Group recorded a revenue of approximately HK$9.63 million for the nine months ended 30 September 2019.
• The Group recorded a profit for the three months ended 30 September 2019 and the loss attributable to shareholders for the nine months ended 30 September 2019 reduced to approximately HK$2.52 million.
• The Directors do not recommend the payment of a dividend for the nine months ended 30 September 2019.

2	VINCO FINANCIAL GROUP LIMITED

Third Quarterly Results (Unaudited)

The board of Directors (the "Board") is pleased to present the unaudited condensed consolidated results of the Group for the three and nine months ended 30 September 2019 together with the comparative unaudited figures for the corresponding periods in 2018, as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		Three months ended	Nine months ended
		30 September	30 September
		2019	2018	2019	2018
	Notes	HK$'000	HK$'000	HK$'000	HK$'000
		(unaudited)	(unaudited)	(unaudited)	(unaudited)
Revenue	2	4,156	2,667	9,634	15,932
Operating expenses		(2,976)	(4,123)	(12,150)	(12,189)
(Loss)/profit from
operations and		1,180		(2,516)
before taxation		(1,456)	3,743
Income tax	4	-	241	-	(600)
(Loss)/profit for
the period and
attributable to
owners of the		1,180		(2,516)
Company		(1,215)	3,143
Other comprehensive
income for the
period, net of		-		-
income tax		-	-
Total comprehensive
(expenses)/income
for the period
attributable to
owners of the		1,180		(2,516)
Company		(1,215)	3,143
(Loss)/earnings per
share
Basic and diluted
(Hong Kong		0.18		(0.39)
cents)	5	(0.19)	0.49

THIRD QUARTERLY REPORT 2019	3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the nine months ended 30 September 2019

	Attributable to equity holders of the Company
		Share
	Share	premium	Retained	Total
	Capital	and reserve	profits	equity
	HK$'000	HK$'000	HK$'000	HK$'000
At 1 January 2018	6,400	21,787	8,080	36,267
Profit for the period	-	-	1,804	1,804
Dividends declared
in respect of the
current year	-	-	(3,000)	(3,000)
At 31 December 2018 and
at 1 January 2019	6,400	21,787	6,884	35,071
Loss for the period	-	-	(2,516)	(2,516)
Final dividend declared in
respect of the last year	-	-	-	-
At 30 September 2019	6,400	21,787	4,368	32,555

4	VINCO FINANCIAL GROUP LIMITED