UBA Investments : ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2

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.

UBA INVESTMENTS LIMITED

開明投資有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 768)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020

RESULTS

The board of directors (the "Board") of UBA Investments Limited (the "Company") is pleased to announce that the unaudited interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 September 2020 and the Group's state of affairs as at that date together with the comparative figures as follows:

CONDENSED CONSOLIDATED INCOME STATEMENT

For the six months ended 30 September

		2020	2019
		(unaudited)		(unaudited)
	Notes	HK$'000		HK$'000
Gross proceeds from disposal of trading securities		2,388		10,154
Revenue	4	3,129	3,201
Net loss on financial assets at fair value through profit or
loss	5	(20,270)	(31,391)
Net gain on other investment at fair value through profit
or loss		444	75
Other revenue		-	131
Administrative and other operating expenses		(2,305)	(2,639)
Finance costs	6	-		(302)
Loss before taxation	7	(19,002)	(30,925)
Income tax expense	8	-	-
Loss for the period and total comprehensive loss
attributable to owners of the Company		(19,002)	(30,925)
Loss per share
Basic and diluted	9	(1.49)cents		(2.43)cents

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		30 September		31 March
		2020	2020
	Notes	(unaudited)		(audited)
		HK$'000		HK$'000
NON-CURRENT ASSETS
Property, plant and equipment		-	-
CURRENT ASSETS
Amounts due from investee companies		2,065		2,275
Amounts due from related companies		1,831		1,408
Deposits		66		66
Financial assets at fair value through
profit or loss	10	86,233		103,800
Other investment		1,083		639
Cash and bank balances		3,550		5,745
		94,828		113,933
CURRENT LIABILITY
Accruals		255		358
NET CURRENT ASSETS		94,573	113,575
TOTAL ASSETS LESS CURRENT LIABILITIES		94,573	113,575
NON-CURRENT LIABILITY
Deferred tax liabilities		191		191
NET ASSETS		94,382	113,384
CAPITAL AND RESERVES
Share capital		12,717	12,717
Reserves		81,665		100,667
TOTAL EQUITY		94,382	113,384
NET ASSET VALUE PER SHARE	11	HK$0.07		HK$0.09

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATAEMENTS

1. GENERAL
   The Company is a public limited company incorporated in the Cayman Islands with its shares listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The address of its registered office is P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The principal place of business is Flat B, 16th Floor, Wah Kit Commercial Centre, 300 Des Voeux Road Central, Hong Kong.
   The Company and its subsidiaries (collectively referred to as the "Group") are engaged in investment holding and trading of securities.
   The condensed consolidated financial statements are presented in Hong Kong dollars ("HK$"), which is the same as the functional currency of the Company and all values (including comparative information) are rounded to the nearest thousand (HK$'000) except when otherwise indicated.
2. BASIS OF PREPARATION
   These unaudited condensed consolidated interim financial statements have been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") and with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Main Board of the Stock Exchange.
   The unaudited condensed consolidated financial statements do not include all the information and disclosure required in the annual consolidated financial statements, and should be read in conjunction with the Group annual consolidated financial statements for the year ended 31 March 2020.
3. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS ("HKFRSs")
   The Group has applied the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") which are effective for the Group's financial year beginning on or after 1 April 2020:

HKAS 1 and HKAS 8	Definition of Material
(Amendments)
HKFRS 9, HKAS 39 and	Interest Rate Benchmark Reform
HKFRS 7(Amendments)
HKFRS 3 (Amendments)	Definition of a Business

The application of the Amendments to References to the Conceptual Framework in HKFRSs and the amendments to HKFRSs in the current period has had no material impact on the Group's financial performance and positions for the current and prior periods and/or on the disclosures set out in these condensed consolidated financial statements.

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4. REVENUE
	For the six months ended
	30 September
	2020	2019
	(unaudited)		(unaudited)
	HK$'000		HK$'000
Dividend income from:
- Listed equity investments	3,129	3,201
- Unlisted equity investments	-		-
	3,129	3,201

No analysis of the Group's revenue and contribution to operating profit for the period set out by principal activities and geographical markets is provided as the Group has only one single business segment, investment holding and all the consolidated revenue and the consolidated results of the Group are attributable to the markets in Hong Kong.

No information about major customers has been disclosed as a substantial portion of the Group's income is derived from the Group's investment and the disclosures of information regarding customers would not be meaningful.

5. NET LOSS ON FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

The following is the analysis of net loss on investment of the Group for the six months ended 30 September 2020 and 2019. The amounts of realised loss represent the fair value difference between the beginning of the period or purchase date in the period and the disposal date of financial instruments while the amounts of unrealised loss represent the change of the fair value during the period of financial instruments held by the Group as at the period-end:

	For the six months ended
	30 September
	2020	2019
	(unaudited)		(unaudited)
	HK$'000		HK$'000
Net loss on financial assets at financial assets at fair
value through profit or loss
- Listed equity investment
- Realised	(16)	(570)
- Unrealised	(12,490)	(30,483)
- Unlisted equity investment
- Unrealised	(7,764)	(338)
	(20,270)		(31,391)

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