Runway Global : Announcements and Notices - FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017 AND RESUMPTION OF TRADING

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Man Shing Global Holdings Limited

萬成環球控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8309) FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017 AND RESUMPTION OF TRADING CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

This announcement, for which the directors of Man Shing Global Holdings Limited collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange for the purpose of giving information with regard to Man Shing Global Holdings Limited. The directors of Man Shing Global Holdings Limited, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

FIRST QUARTERLY RESULTS (UNAUDITED)

The board (the "Board") of directors (the "Directors") of Man Shing Global Holdings Limited (the "Company") presents the unaudited condensed consolidated results of the Company and its subsidiaries (collectively the "Group") for the three months ended 30 June 2017 together with the comparative unaudited figures for the corresponding period in 2016. The first quarterly results are unaudited, but have been reviewed by the audit committee of the Company.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the three months ended 30 June 2017

For the three months end 30 June 2017 2016

Notes HK$'000 HK$'000

Unaudited Unaudited

Revenue 3 115,917 90,458

Cost of sales (106,530) 80,148

Gross profit 9,387 10,310

Other income 4 242 98

Administrative expenses (13,895) (5,807)

Finance costs 5 (774) (711)

Profit (Loss) before tax (5,040) 3,890

Income tax expenses 6 (592) (864)

Profit (Loss) and total comprehensive income for

the year attributable to owners of the Company 7 (5,632) 3,026

Earnings (Loss) per share (HK cents)

Basic and diluted 8 (0.97) 0.82

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

For the three months ended 30 June 2017

Total equity attributable to equity holders of the Company

Notes	Share Capital HK$'000	Share Premium HK$'000	Other Reserve HK$'000	Retained Earnings HK$'000	Total Equity HK$'000
Balance as at 1 April 2017	380	9,220	110	18,367	28,077
Profit (Loss) for the period	-	-	-	(5,632)	(5,632)
Issuance of ordinary shares

pursuant to capitalisation

issue 4,120 (4,120) - - -

Issuance of ordinary shares

pursuant to share offer 1,500 46,500 - - 48,000

Expense incurred in connection with the issuance of

ordinary shares - (9,137) - - (9,137)

Balance as at 30 June 2017

(unaudited) 6,000 42,463 110 12,735 61,308

For the three months ended 30 June 2016

Total equity attributable to equity holders of the Company Share Capital Share Premium Other Reserve Retained Earnings Total Equity

Notes HK$'000 HK$'000 HK$'000 HK$'000 HK$'000

Balance as at 1 April 2016 - - 110 28,585 28,695

Profit (Loss) for the period - - - 3,026 3,026 Balance as at 30 June 2016

(unaudited) - - 110 31,611 31,721

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended 30 June 2017

1. GENERAL

   The Company was incorporated on 18 March 2016 in the Cayman Islands as an exempted company with limited liability under the Companies Law, Chapter 22 (Law 3 of 1961, as consolidated and revised), of the Cayman Islands and the shares of the Company are listed on the Growth Enterprise Market (the "GEM") of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 13 April 2017.

   The Company is principally engaged in investment holding. The principal activities of its subsidiaries are the provision of environmental cleaning solutions including street cleaning solutions, building cleaning solutions, bus and ferry cleaning solutions and other cleaning services which include, among others, refuse collection and waste disposal services, sewage management and pest control and fumigation services.

2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The unaudited condensed consolidated first quarterly results of the Group have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") (which include all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards ("HKASs") and interpretations) issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"), accounting principles generally accepted in Hong Kong and applicable disclosures by the Rules Governing the Listing of Securities on GEM (the "GEM Listing Rules") and the Hong Kong Companies Ordinance.

The unaudited condensed consolidated first quarterly results have been prepared under the historical cost basis.

The unaudited condensed consolidated are presented in Hong Kong Dollars ("HK$") which is the functional currency of the Company and its subsidiaries, and all values are rounded to nearest thousand's ("HK$'000") except when otherwise indicated.

The principal accounting policies used in the preparation of the unaudited condensed consolidated first quarterly results for the three months ended 30 June 2017 are consistent with those applied in the Company's annual report for the year ended 31 March 2017, except for the adoption of new and amendments to HKFRSs that affect the Group and has adopted the first time for the current period's unaudited condensed consolidated first quarterly results.

Adoption of Amendments to HKFRSs In the current period, the Group has applied a number of amendments to HKFRSs issued by the HKICPA that are mandatorily effective for an accounting period that begins on or after 1 January 2017:

Amendments to HKAS 7 Disclosure Initiative

Amendments to HKAS 12 Recognition of Deferred Tax Assets for Unrealised Losses

The adoption of these amendments to HKFRSs has had no material effect on the Group's financial performance and positions for the current and prior periods and/or on the disclosures set out in these unaudited condensed consolidated first quarterly results.

The Group has not early adopted the new and amendments to HKFRSs that have been issued but are not yet effective.

The unaudited condensed consolidated financial statements have not been audited by the Company's auditor, but have been reviewed by the Company's audit committee.