INNOVATIVE PHARMACEUTICAL BIOTECH 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.
INNOVATIVE PHARMACEUTICAL BIOTECH LIMITED領航醫藥及生物科技有限公司
(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)
(Stock Code: 399)
ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017The board (the "Board") of directors (the "Directors") of Innovative Pharmaceutical Biotech Limited (the "Company", together with its subsidiaries, the "Group") hereby announces the unaudited condensed consolidated interim results of the Group for the six months ended 30 September 2017 (the "Financial Period") together with the comparative figures for the six months ended 30 September 2016 (the "Previous Financial Period") as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six months ended 30 September 2017
Six months ended 30 SeptemberNotes | 2017 HK$'000 (unaudited) | 2016 HK$'000 (unaudited) | |
Revenue | 3 | 9,729 | 6,046 |
Cost of sales and services | (8,806) | (5,565) | |
Gross profit | 923 | 481 | |
Other income | 4,494 | 5,802 | |
Other gains and losses, net | 4 | (98,994) | (28,000) |
Selling expenses | (320) | (119) | |
Administrative expenses | (5,471) | (9,910) | |
Other expenses | (314) | (157) | |
Share of results of associates | 5,339 | 4,092 | |
Finance costs | 5 | (53,607) | (46,284) |
Loss before tax Income tax | (147,950) - | (74,095) - | |
Loss for the period | 6 | (147,950) | (74,095) |
2017 HK$'000 | 2016 HK$'000 | |
Note | (unaudited) | (unaudited) |
Other comprehensive (expense) income Items that may be subsequently reclassified
to profit or loss:
Fair value changes of available-for-sale
financial assets - (634)
Reclassification adjustments for the
accumulated loss upon disposal of available-for-sale financial assets | (40) | 44 | |
Exchange difference on translation of foreign operations | (725) | (12) | |
(765) | (602) | ||
Total comprehensive expense for the period | (148,715) | (74,697) | |
Loss for the period attributable to: Owners of the Company | (146,670) | (73,290) | |
Non-controlling interests | (1,280) | (805) | |
(147,950) | (74,095) | ||
Total comprehensive expense for the period attributable to: Owners of the Company | (147,218) | (73,892) | |
Non-controlling interests | (1,497) | (805) | |
(148,715) | (74,697) | ||
Loss per share Basic | 8 | HK(10.02) cents | HK(5.01) cents |
Diluted | HK(10.02) cents | HK(5.01) cents |
At 30 September 2017
Notes | At 30 September 2017 HK$'000 (unaudited) | At 31 March 2017 HK$'000 (audited) | |
Non-current assets Property, plant and equipment | 9 | 205 | 32,385 |
Interests in associates | 10 | 80,522 | 113,462 |
Investments in convertible bonds | 11 | 163,230 | 225,245 |
Intangible assets | 12 | 1,373,224 | 1,373,224 |
Available-for-sale financial assets Amount due from the subsidiary of an associate | - 9,285 | 22,501 8,125 | |
1,626,466 | 1,774,942 | ||
Current assets Trade receivables | 13 | 7,732 | 6,375 |
Available-for-sale financial assets | 56,668 | - | |
Prepayments, deposits and other receivables | 16,699 | 8,333 | |
Bank and cash balances | 28,929 | 61,316 | |
110,028 | 76,024 | ||
Current liabilities Trade payables | 14 | 8,139 | 2,237 |
Accruals and other payables | 7,784 | 5,863 | |
Amounts due to non-controlling interests Amounts due to former non-controlling interests | 22,871 823 | 22,871 823 | |
Amount due to the subsidiary of an |
associate 41,947 41,947
81,564 73,741 Net current assets 28,464 2,283 Total assets less current liabilities 1,654,930 1,777,225 At 30 September 2017At 31
March 2017
HK$'000 HK$'000
Note (unaudited) (audited)
Non-current liabilitiesConvertible bonds 15 498,387 470,671 Deferred tax liabilities - 2,162
Loan from a non-controlling interest 6,933 6,067
505,320 478,900 NET ASSETS 1,149,610 1,298,325 Capital and reservesShare capital 14,642 14,642
Reserves 266,114 413,332
Equity attributable to owners of the Company 280,756 427,974
Non-controlling interests 868,854 870,351
TOTAL EQUITY 1,149,610 1,298,325Innovative Pharmaceutical Biotech Limited published this content on 29 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 November 2017 15:17:03 UTC.
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