REPL::Financial Statements and Related Announcement::First Quarter Results

UNITED FOOD HOLDINGS LIMITED

(Incorporated in Bermuda as an exempted company limited by shares) (Company Registration No: 28925)

CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED 30 JUNE 2021

TABLE OF CONTENTS

SN	Description	Page
1	CONDENSED INTERIM CONSOLIDATED STATEMENT OF	2
	COMPREHENSIVE INCOME
2	CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION	4
3	CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY	5
4	CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS	7
5	NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS	8
6	OTHER INFORMATION REQUIRED BY LISTING RULE APPENDIX 7.2	15

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UNITED FOOD HOLDINGS LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED 30 JUNE 2021

				Group
				3 months ended
				30 June 2021			30 June 2020		Change
		Note		RMB'000			RMB'000		%
CONTINUING OPERATIONS
Revenue		(A)		512			142		260.6
Cost of sales			(194)			(97)		100.0
Gross profit	(B)		318			45		606.7
Other income, net	(C)		5			18		(72.2)
Selling and distribution costs			(298)			(209)		42.6
Administrative expenses	(D)		(1,912)			(1,871)		2.2
Finance expenses			(278)			(443)		(37.2)
Other expenses, net			-			(15)		N/M
Profit/(loss) before tax			(2,165)			(2,475)		(12.5)
Income tax expenses			-			-		N/M
Profit/(loss) for the period			(2,165)			(2,475)		(12.5)
Attributable to :
Owners of the Company			(1,987)			(2,096)		(5.2)
Non-controlling interest			(178)			(379)		(53.0)
Note:	For Notes (A) - (D), please refer to Item 8.

Note: N/A - Not applicable

N/M - Not meaningful

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UNITED FOOD HOLDINGS LIMITED

			Group
			3 months ended
			30 June 2021			30 June 2020		Change
			RMB'000			RMB'000		%
Profit/(loss) for the period			(2,165)			(2,475)		(12.5)
Other comprehensive income/(loss)
Exchange differences on
translation of financial
statements of foreign operation			(637)			(11)		N/M
Total comprehensive profit/(loss) for the period			(2,802)			(2,486)		12.7
Attributable to :
Owners of the Company			(2,617)			(2,136)		22.5
Non-controlling interest			(185)			(350)		(47.1)
The Group's profit before tax is arrived at after charging:
			Group
			3 months ended
			30 June 2021			30 June 2020		Change
			RMB'000			RMB'000		%
Depreciation of plant and equipment			225			553		(59.3)
Depreciation of right of use asset			286			-		N/M
Amortisation of intangible assets			44			79		(44.3)
Finance cost			278			443		(37.2)

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UNITED FOOD HOLDINGS LIMITED

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

FOR THE THREE MONTHS AS AT 30 JUNE 2021

				Group		Company
			30/6/2021			31/3/2021		30/6/2021			31/3/2021
		Note	RMB'000			RMB'000		RMB'000			RMB'000
ASSETS
Non-current assets
Investment in subsidiary		-			-		9			9
Property, plant and equipment	(E)	1,587			1,812		-			-
Right-of-use assets	(E)	7,232			7,518		-			-
Intangible asset - patents	(E)	64,339			64,383		-			-
Goodwill		(F)	12,742			12,742		-			-
			85,900			86,455		9			9
Current assets
Inventories		2,925			3,098		-			-
Trade and other receivables	(G)	126,114			135,626		722			15,734
Amount due from subsidiaries		-			-		112,988			99,389
Cash and cash equivalents		36,833			20,621		501			786
			165,872			159,345		114,211			115,909
Total assets		251,772			245,800		114,220			115,918
EQUITY AND LIABILITIES
Capital and Reserves
Issued capital		18,685			18,685		18,685			18,685
Reserves			157,230			159,847		82,630			84,140
Equity attributable to owners
of the company		175,915			178,532		101,315			102,825
Non-controlling interest	(H)	6,805			6,990		-			-
			182,720			185,522		101,315			102,825
LIABILITIES
Current liabilities
Trade and other payables	(I)	55,745			46,987		422			414
Amounts due to subsidiaries		-			-		12,483			12,679
Current tax payable		334			318		-			-
Contingent considerations	(J)	688			688		-			-
			56,767			47,993		12,905			13,093
Non-current liabilities
Borrowings		9,990			9,990		-			-
Deferred tax liabilities		2,295			2,295		-			-
			12,285			12,285		-			-
Total equity and liabilities		251,772			245,800		114,220			115,918

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UNITED FOOD HOLDINGS LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE THREE MONTHS ENDED 30 JUNE 2021

Group
						Exchange	Capital	Non-
		Issued	Share	Contributed	Accumulated	translation	redemption	controlling
		capital	premium	surplus	losses	reserve	reserve	interest	Total
		RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
Balance at 1 April 2021	18,685	58,276	397,141	(295,285)	(3,267)	2,982	6,990	185,522
Transactions with the owners recognised
directly in equity
	Issue of new shares	-	-	-	-	-	-		-
	Acquisitions of subsidiaries	-	-	-	-	-	-		-
Total transactions with the owners recognised
directly in equity	-	-	-	-	-	-	-	-
Total comprehensive income
for the period
	Profit/(loss) for the period	-	-	-	(1,987)	-	-	(178)	(2,165)
	Exchange differences on
	translation of financial
	statements of foreign operation	-	-	-	-	(630)	-	(7)	(637)
Total comprehensive profit/(loss)
for the period	-	-	-	(1,987)	(630)	-	(185)	(2,802)
Balance at 30 June 2021	18,685	58,276	397,141	(297,272)	(3,897)	2,982	6,805	182,720
Group
						Exchange	Capital	Non-
		Issued	Share	Contributed	Accumulated	translation	redemption	contrilling
		capital	premium	surplus	losses	reserve	reserve	interest	Total
		RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
Balance at 1 April 2020	18,685	58,276	397,141	(223,930)	2,456	2,982	29,777	285,387
Transactions with the owners recognised
directly in equity
	Issue of new shares	-	-	-	-	-	-	-	-
	Acquisitions of subsidiaries	-	-	-	-	-	-	-	-
Total transactions with the owners recognised
directly in equity	-	-	-	-	-	-	-	-
Total comprehensive income
for the period
	Profit/(Loss) for the period	-	-	-	(2,096)	-	-	(379)	(2,475)
	Exchange differences on
	translation of financial
	statements of foreign operation	-	-	-	-	(40)	-	29	(11)
Total comprehensive loss
for the period	-	-	-	(2,096)	(40)	-	(350)	(2,486)
Balance at 30 June 2020	18,685	58,276	397,141	(226,026)	2,416	2,982	29,427	282,901

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