GREAT WALL TERROIR HOLDINGS LIMITED 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.
Great Wall長城Terroir天下控股Holdings有限公司Limited
(Formerly known as Great Wall Belt & Road Holdings Limited 長城一帶一路控股有限公司)
(Incorporated in Bermuda with limited liability)
(Stock Code: 524)
INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2021
The board (the "Board") of directors (the "Director(s)") of Great Wall Terroir Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2021.
FINANCIAL HIGHLIGHTS:
- Revenue amounted to approximately HK$68.4 million (2020: approximately HK$40.4 million).
- Gross profit amounted to approximately HK$2.3 million (2020: approximately HK$3.1 million).
- Loss for the period attributable to owners of the Company amounted to approximately HK$10.5 million (2020: profit for the period attributable to owners of the Company of approximately HK$28.0 million).
- Basic loss per share was approximately HK1.0 cents (2020: basic earnings per share of approximately HK2.6 cents).
- The Board does not recommend payment of any dividend for the six months ended 30 June 2021 (2020: nil).
CONTENTS
Corporate Information | 2 |
Condensed Consolidated Statement of Profit or Loss | 3 |
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | 4 |
Condensed Consolidated Statement of Financial Position | 5 |
Condensed Consolidated Statement of Changes in Equity | 6 |
Condensed Consolidated Statement of Cash Flows | 7 |
Notes to the Condensed Consolidated Financial Statements | 8 |
Business Review and Outlook | 23 |
Financial Review | 26 |
Additional Information | 29 |
Great Wall Terroir Holdings Limited Interim Report 2021 | 01 |
CORPORATE INFORMATION
BOARD OF DIRECTORS
EXECUTIVE DIRECTORS
Cheung Siu Fai (Chairman and acting Chief Executive Officer) (appointed as the Chairman and acting
Chief Executive Officer with effect from 2 March 2021) Hui Chun Wai Henry
(appointed with effect from 2 March 2021)
INDEPENDENT NON-EXECUTIVE DIRECTORS
Fong Wai Ho
Chow Hiu Tung
(appointed with effect from 12 March 2021) Cheung Sze Ming
(appointed with effect from 12 March 2021)
COMPANY SECRETARY
Leung Yung Yan
(appointed with effect from 30 April 2021)
AUDITOR
Confucius International CPA Limited
Certified Public Accountants
LEGAL ADVISERS
Conyers Dill & Pearman (as to Bermuda laws) Reed Smith Richards Butler (as to Hong Kong laws)
PRINCIPAL BANKERS
The Bank of East Asia, Limited
The Hongkong and Shanghai Banking Corporation Limited
REGISTERED OFFICE
Clarendon House
2 Church Street
Hamilton HM11
Bermuda
PRINCIPAL PLACE OF BUSINESS IN HONG KONG
Room 1602, 16/F.
COFCO Tower
262 Gloucester Road
Causeway Bay
Hong Kong
STOCK CODE
The Stock Exchange of Hong Kong Limited: 524
WEBSITE
www.gwt.hk
PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE
MUFG Fund Services (Bermuda) Limited 4th floor North Cedar House
41 Cedar Avenue
Hamilton HM12 Bermuda
BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONG
Tricor Secretaries Limited
Level 54
Hopewell Centre
183 Queen's Road East
Hong Kong
02 | Great Wall Terroir Holdings Limited Interim Report 2021 |
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the six months ended 30 June 2021
The board (the "Board") of directors (the "Director(s)") of Great Wall Terroir Holdings Limited (formerly known as "Great Wall Belt & Road Holdings Limited") (the "Company") herein presents the unaudited interim results (the "Interim Results") of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2021 (the "Period"), together with comparative figures for the corresponding period in 2020. The Interim Results are unaudited but have been reviewed by the audit committee (the "Audit Committee") of the Company.
Six months ended 30 June | |||
2021 | 2020 | ||
HK$'000 | HK$'000 | ||
Notes | (Unaudited) | (Unaudited) | |
Revenue | 3 | 68,380 | 40,439 |
Cost of sales | (66,080) | (37,311) | |
Gross profit | 2,300 | 3,128 | |
Other revenue and income | 4 | 13,230 | 38,384 |
15,530 | 41,512 | ||
Selling and distribution expenses | (299) | (517) | |
Business promotion and marketing expenses | (32) | (107) | |
Operating and administrative expenses | (17,696) | (11,630) | |
Other operating expenses | (43) | (225) | |
(Loss) profit from operations | (2,540) | 29,033 | |
Loss allowances on trade receivables | (171) | - | |
Reversal of loss allowances on other receivables | 10 | - | |
Write-off of financial assets at FVTPL | (425) | - | |
Impairment loss on property, plant, and equipment | (126) | - | |
Net unrealised loss on financial assets at FVTPL | (295) | (1,051) | |
Loss on disposal of a subsidiary | 15 | (5,962) | - |
Finance costs | 5 | (948) | (23) |
(Loss) profit before taxation | 5 | (10,457) | 27,959 |
Income tax credit | 6 | - | 100 |
(Loss) profit for the period | (10,457) | 28,059 | |
(Loss) profit for the period attributable to: | |||
Owners of the Company | (10,457) | 28,031 | |
Non-controlling interests | - | 28 | |
(Loss) profit for the period | (10,457) | 28,059 | |
HK cents | HK cents | ||
(restated) | |||
(Loss) earnings per share | |||
Basic and diluted | 8 | (1.0) | 2.6 |
Great Wall Terroir Holdings Limited Interim Report 2021 | 03 |
CONDENSEDCONSOLIDATEDSTATEMENTOFPROFITORLOSSAND OTHER COMPREHENSIVE INCOME
For the six months ended 30 June 2021
Six months ended 30 June | ||
2021 | 2020 | |
HK$'000 | HK$'000 | |
(Unaudited) | (Unaudited) | |
(Loss) profit for the period | (10,457) | 28,059 |
Other comprehensive income (expense) for the period | ||
Items that will not be subsequently reclassified to profit or loss: | ||
Designated FVTOCI - net movement in investment revaluation reserves | - | (66) |
Gain on disposal of designated FVTOCI | 781 | - |
Items that are or may be subsequently reclassified to profit or loss: | ||
Release of exchange reserves upon disposal of a subsidiary | 2,753 | - |
Exchange differences on translation of foreign subsidiaries | 490 | 24 |
Share of other comprehensive expense of associates | ||
- Exchange difference on translation | - | (1,001) |
Other comprehensive income (expense) for the period | 4,024 | (1,043) |
Total comprehensive (expense) income for the period | (6,433) | 27,016 |
Total comprehensive (expense) income for the period attributable to: | ||
Owners of the Company | (6,379) | 26,932 |
Non-controlling interests | (54) | 84 |
Total comprehensive (expense) income for the period | (6,433) | 27,016 |
04 | Great Wall Terroir Holdings Limited Interim Report 2021 |
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Great Wall Belt & Road Holdings Limited published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 12:10:04 UTC.
