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.
中國全通(控股)有限公司
CHINA ALL ACCESS (HOLDINGS) LIMITED(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 633) VOLUNTARY ANNOUNCEMENT IN RELATION TO- ALLEGATION REPORTS AND
- 2015 ANNUAL RESULTS ANNOUNCEMENT AND
This announcement is made by China All Access (Holdings) Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.
Reference is made to the announcements (the "Previous Announcements") of the Company issued on 13 December 2016, 18 December 2016, 20 December 2016 and
21 December 2016 in relation to the allegation reports published by Triam (collectively, the "Allegation Reports"), the 2015 Results Announcement and the 2015 Annual Report. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Previous Announcements.
The Board hereby announces further information for the information contained in the Previous Announcements, the 2015 Results Announcement and the 2015 Annual Report as follows:
The auditors of the Company, HLB Hodgson Impey Cheng Limited ("HLB"), are aware of the Allegation Reports and they have confirmed that they have no intention to withdraw or amend their audit opinion on the 2015 Financial Statements despite the Allegation Reports.
Each of the Company's independent non-executive Directors and the audit committee had reviewed the Allegation Reports. Their position towards the Allegation Reports is the same as that of the Company as disclosed in the Previous Announcements.
Regarding the disclosure relating to the revenue from customers amounting to 10 percent or more of the Group's revenue in the 2015 Results Announcement, there is no specific accounting standard guiding the disclosure of revenue from major customers preparing in annual results announcement.
As set out in the Previous Announcements, some adjustments for line items in the consolidated statement of profit or loss of the Group and consolidated statement of financial position of the Group disclosed in the 2015 Results Announcement were made in the 2015 Annual Report. The Company wishes to state that the Directors and HLB were aware of such adjustments at the time of finalisation of the 2015 Annual Report after the publication of the 2015 Results Announcement. As set out on page 5 of the announcement of the Company dated 18 December 2016, figures for the top line items such as revenue, cost of sales and gross profit in the 2015 Annual Report were the same as those disclosed in the 2015 Results Announcement, and figures for the bottom line items such as profit before taxation, income tax, profit for the year from continuing operations, profit for the year from discontinued operations, profit for the year from continuing and discontinued operations, the earnings per share from continuing and discontinued operations and net assets in the 2015 Annual Report were same as those disclosed in the 2015 Results Announcement.
Set out below are the details and reasons of adjustments in the consolidated statement of profit or loss of the Group and consolidated statement of financial position of the Group disclosed in the 2015 Results Announcement made in the 2015 Annual Report:
2015 Results Announcement
Adjustments
Notes
2015 Annual Report
RMB'000
RMB'000
RMB'000
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
Other revenue
30,703
(18,156)
(a)
12,547
Other net loss
25,681
(18,156)
(a)
7,525
Administrative expenses
138,191
71,373
(5,357)
(b)
(c)
204,207
Profit from operations
430,012
(18,156)
18,156
(71,373)
5,357
(a)
(a)
(b)
(c)
363,996
Finance income
202,224
(5,357)
(80,117)
(c)
(d)
116,750
2015 Results Announcement
Adjustments
Notes
2015 Annual Report
RMB'000
RMB'000
RMB'000
Finance costs
308,041
(71,373)
(80,117)
9,178
(9,178)
(b)
(d)
(d)
(d)
156,551
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Non-current assets
Deferred tax assets
20,157
(9,059)
(e)
11,098
Current assets
Trade and other receivables
2,654,298
760
(e)
2,655,058
Prepayments
403,000
(26,857)
(e)
376,143
Assets of disposal
group classified as held for sale
3,289,183
9,059
26,857
(760)
(5,835)
(e)
(e)
(e)
(f)
3,318,504
Current liabilities
Trade and other payables
1,533,593
(20,394)
(194,473)
72,078
(g)
(h)
(i)
1,390,804
Convertible bonds
413,843
(72,078)
(75,878)
(i)
(j)
265,887
Income tax payable
150,532
20,394
(g)
170,926
Liabilities of disposal group classified as held for sale
2,325,839
(5,835)
194,473
25,133
5,076
(1)
(f)
(h)
(h)
(h)
(k)
2,544,685
Non-current liabilities
Interest-bearing borrowings
202,913
(25,133)
(h)
177,780
Convertible bonds
836,831
75,878
(j)
912,709
Deferred income
15,884
1
(k)
15,885
Deferred tax liabilities
21,211
(5,076)
(h)
16,135
Notes:
Consolidated statement of profit or lossThe changes of the line items in the consolidated statement of profit or loss of the Group in the 2015 Annual Report were due to reclassification and/or set off in accordance with the applicable accounting standard, i.e. (i) presenting a group of similar transactions on a net basis of gains and loss, and (ii) reclassification of certain expenses within the consolidated statement of profit or loss based on the nature of transactions. Further details are set out below:
An amount of approximately RMB18,156,000 represents the recognition of income and cost on disposal of the Group's assets on the net basis which was set off in 2015 Annual Report.
An amount of approximately RMB71,373,000 of "finance costs" in the consolidated statement of profit or loss in the 2015 Results Announcement was reclassified as "administrative expenses" in the 2015 Annual Report as such amount represents the administrative expense of certain entities in the Group.
An amount of approximately RMB5,357,000 of "finance income" and "administrative expenses" in the consolidated statement of profit or loss in the 2015 Results Announcement was set off on the net basis in the 2015 Annual Report as such amount of "financial income" represents the recognition of interest income based on the premium interest rate as per agreement of the structured deposits and such amount of "administrative expenses" represents the recognition of written back of the interest income with reference to the minimum interest rate as per agreement of the structured deposit for the purpose of recognising the return having considered the book closing at 31 December 2015.
An amount of approximately RMB80,117,000 represents the fair value gain and fair value loss on derivative component of convertible bonds which was set off in the 2015 Annual Report as such amount of "finance cost" represents the recognition reflecting the fair value change based on the nature of the transactions.
An amount of approximately RMB9,178,000 of "finance costs" in the consolidated statement of profit or loss in the 2015 Results Announcement (representing "interest expenses on convertible bonds" as set out in note 6(b) to the consolidated statement of profit or loss in the 2015 Results Announcement) was reclassified as "change in fair value of derivative
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