GREAT WALL TECHNOLOGY COMPANY LTD. 
By 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.
GWT長城科技股份有限公司
Great Wall Technology Company Limited(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 0074)
INSIDE INFORMATION
This announcement is made by Great Wall Technology Company Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company ("Shareholders") and potential investors that each of China Great
Wall Computer (Shenzhen) Co., Ltd. 中國長城計算機深圳股份有限公司 ("CGC")
and Shenzhen Kaifa Technology Co., Ltd. 深圳長城開發科技股份有限公司 ("Great
Stock Exchange, published an announcement ("CGC Announcement" and "Kaifa Announcement" respectively) on its unaudited preliminary results for the three months ended 31 March 2014 (the "Reporting Period") on the website of the Shenzhen Stock Exchange on 14 April 2014.
The major contents of the CGC Announcement and Kaifa Announcement are summarized below:
It is expected that the net loss attributable to the shareholders of CGC for the Reporting Period to be around RMB60 million to RMB100 million as compared with a net profit attributable to the shareholders of RMB3.95 million for the corresponding period last year. The basic loss per share for the Reporting Period is expected to be around RMB0.0453 to RMB0.0756 as compared with an earnings per share of RMB0.003 for the corresponding period last year. The change was due to (i) the continued weakness in demand in Europe and Brazil, the key markets of TPV Technology Limited ("TPV"), a subsidiary of CGC, for its TV business, which resulted in a decrease in both sales volume and gross profit; and (ii) the severance payment made by TPV in connection with the restructuring and streamlining of the business of its subsidiary TPV Vision.
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It is expected that the net loss attributable to the shareholders of Great Wall Kaifa for the Reporting Period to be around RMB110 million to RMB120 million as compared with a net profit attributable to the shareholders of RMB32.53 million for the corresponding period last year. The basic loss per share for the Reporting Period is expected to be around RMB0.0748 to RMB0.0816 as compared with an earnings per share of RMB0.0247 for the corresponding period last year. The change was due to the depreciation of Renminbi during the Reporting Period which resulted in a substantial decrease in the fair value of the unexpired derivative financial instruments contracted by Great Wall Kaifa for foreign currency exchange risks hedging purpose. However, in terms of the profit/loss realized upon settlement of such derivative financial instruments, the profit before tax recorded for the Reporting Period was RMB81.17 million. Besides, the profit of the main businesses of Great Wall Kaifa during the Reporting Period increased by 26.71% as compared with the corresponding period last year due to the recovery in the global economy during the Reporting Period.
The financial information contained in the CGC Announcement and Great Wall Kaifa Announcement has been prepared under PRC GAAP and has not been reviewed by the Company's auditors or audited by certified public accountants. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
Shenzhen, PRC, 14 April 2014
By order of the Board
Chairman
As at the date of this announcement, the Board comprises six executive directors, namely Liu Liehong, Tam Man Chi, Yang Jun, Du Heping, Fu Qiang and Xu Haihe; and three independent non-executive directors, namely Yao Xiaocong, James Kong Tin Wong and Zeng Zhijie.
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