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.
Suoxinda Holdings Limited
索 信 達 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3680)
PUBLICATION OF UNAUDITED MANAGEMENT ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
AND
CONTINUED SUSPENSION OF TRADING
This announcement is made by Suoxinda Holdings Limited (the "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 (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the announcements of the Company dated 30 March 2021, 31 March 2021 and 1 April 2021 (the "Prior Announcements") in relation to, among others, its delay in publication of the 2020 Annual Results. Capitalised terms used herein shall have the same meanings as those defined in the Prior Announcements unless otherwise stated herein.
PUBLICATION OF UNAUDITED MANAGEMENT ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
As disclosed in the Prior Announcements, the release of the 2020 Annual Results was delayed as additional time is required to obtain further information and supporting documents by the Auditor in connection with a payment of HK$8 million service fees made by the Company to a service provider pursuant to a consultancy services agreement entered into between the Company and such service provider. As at the date of this announcement, the IBC is in the course of identifying suitable independent professional adviser for conducting the Investigation. In light of the above, the Auditor is not in a position to commit to a definite timeline about the completion of their audit and issuance of their audit opinion. Accordingly, as at the date of this announcement, the Board is not able
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to determine the expected date of publication of the 2020 Annual Results. The Company will issue further announcement on the expected date of publication of the 2020 Annual Results as and when appropriate in accordance with the requirements of the Listing Rules.
In order to keep the shareholders and potential investors of the Company informed of the Group's business operation and financial position, the Board would like to provide the shareholders and potential investors of the Company with the preliminary unaudited financial information of the Group for the year ended 31 December 2020 which was extracted from the management accounts of the Group for the year ended 31 December 2020 together with the audited comparative figures for the year ended 31 December 2019.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Year ended | Year ended | |||||
31 December | 31 December | |||||
2020 | 2019 | |||||
(Unaudited) | (Audited) | |||||
RMB'000 | RMB'000 | |||||
Revenue | 330,290 | 257,915 | ||||
Cost of sales | (212,698) | (166,321) | ||||
Gross profit | 117,592 | 91,594 | ||||
Selling expenses | (24,798) | (12,738) | ||||
Administrative expenses | (53,709) | (48,326) | ||||
Research and development expenses | (42,152) | (17,500) | ||||
Net impairment losses on financial and contract assets | (15,598) | (5,698) | ||||
Other income | 13,247 | 6,040 | ||||
Other gains, net | 433 | 1,165 | ||||
Operating (loss)/profit | (4,985) | 14,537 | ||||
Finance income | 513 | 234 | ||||
Finance costs | (4,763) | (4,296) | ||||
Finance costs, net | (4,250) | (4,062) | ||||
Share of (losses)/profits of associates | (101) | 40 | ||||
(Loss)/profit before income tax | (9,336) | 10,515 | ||||
Income tax expenses | (806) | (6,391) | ||||
(Loss)/profit for the year | (10,142) | 4,124 | ||||
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Year ended | Year ended | |||||||
31 December | 31 December | |||||||
2020 | 2019 | |||||||
(Unaudited) | (Audited) | |||||||
RMB'000 | RMB'000 | |||||||
Attributable to: | ||||||||
Owners of the Company | (10,538) | 4,124 | ||||||
Non-controlling interests | 396 | - | ||||||
(10,142) | 4,124 | |||||||
Other comprehensive loss | ||||||||
Items that may be reclassified to profit: | ||||||||
- Currency translation differences | (2,536) | (245) | ||||||
Total comprehensive (loss)/income for the year, net of tax | (12,678) | 3,879 | ||||||
Total comprehensive (loss)/income for the year | ||||||||
attributable to: | ||||||||
Owners of the Company | (13,074) | 3,879 | ||||||
Non-controlling interests | 396 | - | ||||||
(12,678) | 3,879 | |||||||
(Loss)/earnings per share for (loss)/profit attributable to | ||||||||
owners of the Company | ||||||||
Basic and diluted (loss)/earnings per share (RMB cents) | (2.6) | 1.4 | ||||||
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION | |||
As at 31 December | |||
2020 | 2019 | ||
(Unaudited) | (Audited) | ||
RMB'000 | RMB'000 | ||
ASSETS | |||
Non-current assets | |||
Property and equipment | 53,007 | 17,178 | |
Intangible assets | 54,782 | 19,536 | |
Right-of-use assets | 52,244 | 5,651 | |
Investment in associates | 10,339 | 440 | |
Prepayments | 3,368 | 40,884 | |
Deferred tax asset | 1,859 | 226 | |
175,599 | 83,915 | ||
Current assets | |||
Trade receivables | 118,065 | 51,240 | |
Contract assets | 100,828 | 47,624 | |
Prepayments | 2,002 | 1,983 | |
Other financial assets at amortised cost | 6,714 | 3,956 | |
Inventories | - | 3 | |
Pledged bank deposits | 5,359 | 6,503 | |
Cash and cash equivalents | 74,184 | 178,452 | |
307,152 | 289,761 | ||
Total assets | 482,751 | 373,676 | |
EQUITY | |||
Equity attributable to the owners of the Company | |||
Share capital | 3,597 | 3,578 | |
Other reserves | 201,377 | 191,719 | |
Retained earnings | 1,931 | 14,263 | |
206,905 | 209,560 | ||
Non-controlling interests | 11,312 | - | |
Total equity | 218,217 | 209,560 | |
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As at 31 December | |||
2020 | 2019 | ||
(Unaudited) | (Audited) | ||
RMB'000 | RMB'000 | ||
LIABILITIES | |||
Non-current liabilities | |||
Deferred tax liabilities | 2,471 | - | |
Lease liabilities | 31,752 | 3,605 | |
Other payables | 1,574 | - | |
Other borrowings | - | 6,438 | |
35,797 | 10,043 | ||
Current liabilities | |||
Trade payables | 68,675 | 41,523 | |
Accruals and other payables | 49,996 | 29,591 | |
Contract liabilities | 1,213 | 12,789 | |
Current income tax liabilities | 8,020 | 7,967 | |
Lease liabilities | 13,510 | 1,791 | |
Bank and other borrowings | 87,323 | 60,412 | |
228,737 | 154,073 | ||
Total liabilities | 264,534 | 164,116 | |
Total equity and liabilities | 482,751 | 373,676 | |
Net current assets | 78,415 | 135,688 | |
Total assets less current liabilities | 254,014 | 219,603 | |
Shareholders and potential investors of the Company are reminded that the information contained in this announcement is only based on the preliminary assessment by the Board and the Audit Committee on the unaudited management accounts of the Group for the year ended 31 December 2020, and is not based on any data or information that has been audited or reviewed by the Auditor. The relevant financial information is pending further review by the Company and the Auditor, and will be subject to changes resulting from, among others, further review by the Company and any adjustments that may be made by the Auditor subject to the completion of auditing process. The Board cannot guarantee that the unaudited consolidated financial information set out above truly reflects the financial
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performance and position of the Group and such information might be misleading if any potential adjustments have not been taken into account. Shareholders and potential investors should note that the actual 2020 Annual Results may be significantly different from the disclosure in this announcement.
Shareholders and potential investors of the Company are also cautioned not to unduly rely on the unaudited financial information disclosed above, and should exercise caution when dealing in the securities of the Company.
CONTINUED SUSPENSION OF TRADING
At the request of the Company, trading in the shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m. on 1 April 2021. Trading in the shares of the Company will remain suspended until further notice.
By Order of the Board
Suoxinda Holdings Limited
Song Hongtao
Chairman of the Board
Hong Kong, 15 April 2021
As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Song Hongtao, Mr. Wu Xiaohua, Mr. Lam Chun Hung Stanley and Ms. Wang Jing; and three independent non-executive Directors, namely Mr. Tu Xinchun, Ms. Zhang Yahan and Dr. Qiao Zhonghua.
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Suoxinda Holdings Ltd. published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2021 13:06:15 UTC.