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.

(Incorporated in Bermuda with limited liability)

(Stock code: 111)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO ANNUAL REPORT FOR THE YEAR ENDED

31 DECEMBER 2019

Reference is made to the annual report of Cinda International Holdings Limited (the "Company", together with its subsidiaries, the "Group") for the year ended 31 December 2019 (the "2019 Annual Report"). Capitalised terms used herein shall have the same meanings as defined in the 2019 Annual Report unless the context requires otherwise. In addition to the information provided in the 2019 Annual Report, the Board would like to provide further information and breakdown in relation to the other operating expenses and investment in an associate which is defined as significant investment of the Group for the year ended 31 December 2019:

OTHER OPERATING EXPENSES

2019

2018

HK$'000

HK$'000

Advertising and promotion fee

1,544

4,044

Advisory fee expenses

71,416

36,802

Auditor's remuneration

2,155

1,973

Bank charges

831

1,331

Depreciation of property and equipment

4,085

4,939

Depreciation of right-of-use assets

22,752

-

Employee relation expenses

1,233

861

Entertainment fee

1,776

1,745

Equipment rental expenses

7,842

7,184

Impairment loss reversal on:

- debt instruments at fair value through other

comprehensive income

(5,063)

(3,640)

- loans receivable

(234)

(468)

- trade and other receivables

(209)

(498)

- 1 -

OTHER OPERATING EXPENSES (continued)

2019

2018

HK$'000

HK$'000

Insurance fee

1,996

1,577

Legal and professional fee

7,886

1,966

Printing and stationery fee

838

1,015

Repair and maintenance fee

2,253

2,443

Staff recruitment fee

1,368

1,059

Telecommunication fee

2,491

2,494

Travelling expenses

2,314

2,398

Others

4,266

4,563

131,540

71,788

SIGNIFICANT INVESTMENT

As at 31 December 2019, the Group held 18,000,000 ordinary shares (2018: 18,000,000

ordinary shares), representing 27.6% (2018: 27.6%) equity interests in Sino-Rock Investment Management Company Limited ("Sino-Rock"), a private company incorporated in Hong Kong and is considered as an associate of the Group, principally engaged in investment holding and provision of capital management and consultancy services. The Company would like to supplement Sino-Rock as a significant investment of Group for the year ended 31 December 2019. The Group's share of net assets in Sino-Rock was HK$243,053,000 at 31 December 2019 (2018: HK$234,367,000), which accounted for approximately 12.14% (2018: 13.49%) of the total assets of the Group. The aggregate cost of investment in Sino-Rock was HK$107,014,000. The Group treats Sino-Rock as a long term investment and a business partner in its asset management business.

The above additional information does not affect other information contained in the 2019 Annual Report and save as disclosed above, all other information in the 2019 Annual Report remains unchanged.

By order of the Board

Cinda International Holdings Limited

Lau Mun Chung

Executive Director

Hong Kong, 14 August 2020

- 2 -

As at the date hereof, the Board comprises:

Executive Directors:

Mr. Yu Fan

(Chairman)

Mr. Gong Zhijian

(Deputy Chairman and Chief

Executive Officer)

Mr. Lau Mun Chung (Deputy Chief Executive

Officer)

Non-executive Directors:

Mr. Chow Kwok Wai

Mr. Zhang Yi

Independent non-executive

Mr. Hung Muk Ming

Directors:

Mr. Xia Zhidong

Mr. Liu Xiaofeng

Website: http://www.cinda.com.hk

- 3 -

Attachments

  • Original document
  • Permalink

Disclaimer

Cinda International Holdings Limited published this content on 14 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2020 09:07:06 UTC