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A8 New Media Group Limited
A8新媒體集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 800)
ANNOUNCEMENT OF THE INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2019
FINANCIAL HIGHLIGHTS
- For the six months ended 30 June 2019, the loss attributable to equity holders of the Company amounted to approximately RMB11.8 million, while it was a profit of approximately RMB33.1 million for the corresponding period in 2018.
- For the six months ended 30 June 2019, the revenue of the Group amounted to approximately RMB60.2 million, representing a decrease of approximately 24.3% from approximately RMB79.5 million for the corresponding period in 2018.
- For the six months ended 30 June 2019, the overall gross margin ratio of the Group was approximately 38.2%, while it was approximately 48.6% for the corresponding period in 2018.
- Strong balance sheet, with cash and bank balance and highly liquid short-term assets of approximately RMB597.9 million and net assets of approximately RMB1,441.3 million as of 30 June 2019.
The board of directors (the "Board") of A8 New Media Group Limited (the "Company") announces the unaudited interim financial information ("Interim Accounts") of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2019. The Interim Accounts have not been reviewed by the Company's auditors but they have been reviewed by the audit committee of the Company.
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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the six months ended 30 June 2019
For the six months | |||||||
ended 30 June | |||||||
2019 | 2018 | ||||||
(Unaudited) | (Unaudited) | ||||||
Notes | RMB'000 | RMB'000 | |||||
REVENUE, net of taxes and surcharges | 4 | 58,696 | 77,807 | ||||
Cost of services provided | (35,710) | (39,143) | |||||
Gross profit | 22,986 | 38,664 | |||||
Other income and gains, net | 4 | 10,051 | 48,898 | ||||
Selling and marketing expenses | (4,131) | (22,123) | |||||
Administrative expenses | (29,309) | (22,940) | |||||
Other expenses, net | (21,958) | (378) | |||||
Finance costs | 5 | (3,743) | (3,888) | ||||
Share of profits and losses of associates, net | 6,003 | 3,721 | |||||
PROFIT/(LOSS) BEFORE TAX | 6 | (20,101) | 41,954 | ||||
Income tax credit/(expense) | 7 | 4,723 | (10,285) | ||||
PROFIT/(LOSS) FOR THE PERIOD | (15,378) | 31,669 | |||||
Attributable to: | |||||||
(11,778) | |||||||
Owners of the Company | 33,068 | ||||||
Non-controlling interests | (3,600) | (1,399) | |||||
(15,378) | 31,669 | ||||||
EARNINGS/(LOSS) PER SHARE | |||||||
ATTRIBUTABLE TO EQUITY | |||||||
HOLDERS OF THE COMPANY | 9 | ||||||
Basic (RMB per share) | (0.44 cent) | 1.2 cent | |||||
Diluted (RMB per share) | (0.44 cent) | 1.2 cent | |||||
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 30 June 2019
For the six months | ||||
ended 30 June | ||||
2019 | 2018 | |||
(Unaudited) | (Unaudited) | |||
RMB'000 | RMB'000 | |||
PROFIT/(LOSS) FOR THE PERIOD | (15,378) | 31,669 | ||
OTHER COMPREHENSIVE INCOME/(LOSS) | ||||
Other comprehensive loss that may be reclassified to | ||||
profit or loss in subsequent periods: | (190) | |||
Exchange differences on translation of financial statements | (1,945) | |||
Other comprehensive income/(loss) that will not be | ||||
reclassified to profit or loss in subsequent periods: | (15,122) | |||
Share of other comprehensive loss of an associate | - | |||
Change in fair value of equity investments at fair value | 31,527 | |||
through other comprehensive income/(loss), net of tax | (20,185) | |||
Net other comprehensive income/(loss) that will not be | ||||
16,405 | ||||
reclassified to profit or loss in subsequent periods | (20,185) | |||
OTHER COMPREHENSIVE INCOME/(LOSS) FOR | ||||
THE PERIOD, NET OF TAX | 16,215 | (22,130) | ||
TOTAL COMPREHENSIVE INCOME | ||||
FOR THE PERIOD | 837 | 9,539 | ||
Attributable to: | 4,437 | |||
Owners of the Company | 10,938 | |||
Non-controlling interests | (3,600) | (1,399) | ||
837 | 9,539 | |||
- 3 -
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 30 June 2019
30 June | 31 December | |||
2019 | 2018 | |||
(Unaudited) | (Audited) | |||
Notes | RMB'000 | RMB'000 | ||
NON-CURRENT ASSETS | 139,844 | |||
Property, plant and equipment | 10 | 144,720 | ||
Investment properties | 433,000 | 438,000 | ||
Right-of-use assets | 13,285 | - | ||
Prepaid land lease payments | - | 12,546 | ||
Goodwill | 53,366 | 53,366 | ||
Intangible assets | 3,543 | 14,510 | ||
Network films and dramas | 561 | - | ||
Investments in associates | 260,935 | 270,054 | ||
Financial assets at fair value through profit or loss | 148,711 | 163,964 | ||
Financial assets at fair value through other | 142,418 | |||
comprehensive income | 100,382 | |||
Deferred tax assets | 1,605 | 1,843 | ||
Total non-current assets | 1,197,268 | 1,199,385 | ||
CURRENT ASSETS | ||||
3,663 | ||||
Network films and dramas under production | 19,116 | |||
Trade receivables | 11 | 6,341 | 10,082 | |
Prepayments, other receivables and other assets | 12,352 | 25,365 | ||
Financial assets at fair value through profit or loss | 11,282 | 15,796 | ||
Restricted cash balances and pledged deposits | 250,741 | 274,533 | ||
Cash and cash equivalents | 335,894 | 311,475 | ||
Total current assets | 620,273 | 656,367 | ||
CURRENT LIABILITIES | ||||
8,642 | ||||
Trade payables | 12 | 19,403 | ||
Other payables and accruals | 53,753 | 75,775 | ||
Interest-bearing bank borrowings | 180,000 | 195,058 | ||
Tax payable | 8,141 | 9,114 | ||
Lease liabilities | 595 | - | ||
Total current liabilities | 251,131 | 299,350 | ||
NET CURRENT ASSETS | 369,142 | 357,017 | ||
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,566,410 | 1,556,402 | ||
- 4 -
30 June | 31 December | |||
2019 | 2018 | |||
(Unaudited) | (Audited) | |||
Note | RMB'000 | RMB'000 | ||
NON-CURRENT LIABILITIES | 122,070 | |||
Deferred tax liabilities | 116,624 | |||
Deferred income | 3,085 | 4,070 | ||
Total non-current liabilities | 125,155 | 120,694 | ||
Net assets | 1,441,255 | 1,435,708 | ||
EQUITY | ||||
Equity attributable to owners of the Company | 22,818 | |||
Issued capital | 13 | 22,818 | ||
Reserves | 1,411,993 | 1,403,765 | ||
1,434,811 | 1,426,583 | |||
Non-controlling interests | 6,444 | 9,125 | ||
Total equity | 1,441,255 | 1,435,708 | ||
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HKEx - Hong Kong Exchanges and Clearing Ltd. published this content on 22 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2019 15:22:03 UTC