Goldlion : ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30TH JUNE 2017

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RESULTS GOLDLION HOLDINGS LIMITED

金 利 來 集 團 有 限 公 司

(Incorporated in Hong Kong under the Hong Kong Companies Ordinance)

(Stock code: 533) ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30TH JUNE 2017

The Board of Directors announces the unaudited condensed consolidated results of Goldlion Holdings Limited (the "Company") and its subsidiaries (together the "Group") for the six months ended 30th June 2017 as follows:

Unaudited Six months ended
Note	30.6.2017 HK$'000	30.6.2016 HK$'000
Turnover	2	702,725	689,405
Cost of sales	4	(288,319)	(270,651)
Gross profit	414,406	418,754
Other gains	3	46,624	73,457
Selling and marketing costs	4	(203,121)	(168,403)
Administrative expenses	4	(82,693)	(88,032)
Operating profit	175,216	235,776
Interest income	9,136	13,515
Profit before income tax	184,352	249,291
Income tax expense	5	(36,500)	(47,053)
Profit for the period attributable to owners of the Company	147,852	202,238
Earnings per share	HK cents	HK cents
- Basic and diluted	6	15.05	20.59

Condensed Consolidated Income Statement For the six months ended 30th June 2017 Condensed Consolidated Statement of Comprehensive Income For the six months ended 30th June 2017

Unaudited Six months ended
30.6.2017 HK$'000	30.6.2016 HK$'000
Profit for the period	147,852	202,238
Other comprehensive income
Item that will not be reclassified subsequently to profit or loss
Revaluation of investment property upon reclassification from land use rights, and property, plant and equipment	1,730	-
- deferred tax arising from revaluation thereof	(434)	-
Item that may be reclassified subsequently to profit or loss
Exchange differences on translation of financial statements of overseas subsidiaries	40,158	(18,836)
Other comprehensive income for the period	41,454	(18,836)
Total comprehensive income for the period attributable to owners of the Company	189,306	183,402

Condensed Consolidated Balance Sheet As at 30th June 2017

Note	As at 30.6.2017 (Unaudited) HK$'000	As at 31.12.2016 (Audited) HK$'000
ASSETS
Non-current assets
Land use rights	44,346	42,549
Property, plant and equipment	175,094	165,745
Investment properties	2,546,740	2,484,052
Available-for-sale financial assets	5,700	5,600
Deferred income tax assets	61,529	56,136
2,833,409	2,754,082
Current assets
Property under development held for sale	126,676	122,982
Inventories	208,934	211,537
Trade receivables	8	62,371	72,574
Prepayments, deposits and other receivables	51,500	44,324
Tax recoverable	4,382	256
Bank deposits	983,189	970,502
Cash and cash equivalents	240,960	231,721
1,678,012	1,653,896
Total assets	4,511,421	4,407,978
EQUITY
Capital and reserve attributable to owners of the Company
Share capital	1,101,358	1,101,358
Reserves	2,650,401	2,588,770
Total equity	3,751,759	3,690,128
LIABILITIES
Non-current liabilities
Other payables and accruals	1,901	5,235
Deferred income tax liabilities	389,785	372,196
391,686	377,431
Current liabilities
Trade payables	9	53,962	33,124
Other payables and accruals	298,313	289,678
Current income tax liabilities	15,701	17,617
367,976	340,419
Total liabilities	759,662	717,850
Total equity and liabilities	4,511,421	4,407,978

Notes:

1. Principal accounting policies

   This condensed consolidated interim financial information for the six months ended 30th June 2017 has been prepared in accordance with Hong Kong Accounting Standards ("HKAS") 34 "Interim financial reporting" issued by the Hong Kong Institute of Certified Public Accountants, and applicable requirements of Appendix 16 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. This condensed consolidated interim financial information should be read in conjunction with the annual financial statements for the year ended 31st December 2016.

   The financial information relating to the year ended 31st December 2016 that is included in this preliminary announcement of interim results for the six months ended 30th June 2017 as comparative information does not constitute the Company's statutory annual consolidated financial statements for the year but is derived from those financial statements. Further information relating to these statutory financial statements required to be disclosed in accordance with section 436 of the Hong Kong Companies Ordinance (Cap. 622) is as follows:

   The Company has delivered the financial statements for the year ended 31st December 2016 to the Registrar of Companies as required by section 662(3) of, and Part 3 of Schedule 6 to, the Hong Kong Companies Ordinance (Cap. 622).

   The Company's auditor has reported on those financial statements for the year ended 31st December 2016. The auditor's reports was unqualified; did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its report; and did not contain a statement under sections 406(2), 407(2) or (3) of the Hong Kong Companies Ordinance (Cap. 622).

   The accounting policies applied are consistent with those of the annual financial statements for the year ended 31st December 2016, as described in those annual financial statements.

2. Amendments to standards effective in 2017 but not relevant to the Group

   HKAS 7 (Amendment)	Statement of cash flows
   HKAS 12 (Amendment)	Income taxes
   HKFRS 12 (Amendment)	Disclosure of interest in other entities

3. The following new standards, new interpretations and amendments to standards have been issued but are not effective for the financial year beginning on 1st January 2017 and have not been early adopted by the Group:

Effective for accounting periods beginning on or after
HKAS 28 (Amendment)	Investments in associates and joint ventures	1st January 2018
HKAS 40 (Amendment)	Investment property	1st January 2018
HKFRS 1 (Amendment)	First time adoption of HKFRS	1st January 2018
HKFRS 2 (Amendment)	Share-based payment	1st January 2018
HKFRS 4 (Amendment)	Insurance contracts	1st January 2018