Global Digital Creations Holdings Limited ᐑଢᅰᇁ௴จછٰϞࠢʮ̡*
(Incorporated in Bermuda with limited liability)
(Stock Code: 8271)
FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate small and mid-sized 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.
Given that the companies listed on GEM are generally small and mid-sized companies, 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.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange 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.
This announcement, for which the directors (the "Directors") of Global Digital Creations Holdings Limited (the "Company") 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 (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, 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.
* For identification purpose only
FINAL RESULTS
The board of Directors of the Company (the "Board") hereby announces the audited financial results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 with comparative figures for the year ended 31 December 2017.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December 2018
2018 | 2017 | ||
NOTES | HK$'000 | HK$'000 | |
(Restated) | |||
Continuing operations | |||
Revenue | 2 | ||
Goods and services | 62,260 | 38,551 | |
Rental | 45,382 | 42,211 | |
Total revenue | 107,642 | 80,762 | |
Cost of sales and services | (70,404) | (75,833) | |
Gross profit | 37,238 | 4,929 | |
Other income | 29,252 | 14,653 | |
Distribution costs and selling expenses | (4,552) | (22,367) | |
Administrative expenses | (41,285) | (38,414) | |
Other gains and loss | 4 | 351 | 317 |
Share of results of an associate | - | (23) | |
Profit (loss) before tax | 21,004 | (40,905) | |
Income tax expense | 5 | (11,320) | (535) |
Profit (loss) for the year from continuing operations | 9,684 | (41,440) | |
Discontinued operations | |||
Loss (profit) for the year from discontinued operations | 6 | (456,221) | 17,425 |
Loss for the year | 7 | (446,537) | (24,015) |
Other comprehensive (expenses) income: | |||
Items that will not be reclassified to profit or loss: | |||
Exchange differences on translation to | |||
presentation currency | (42,710) | 58,601 | |
Gain on revaluation upon transfer from property, | |||
plant and equipment and prepaid lease payments to | |||
investment properties | 61,049 | - | |
Deferred tax on revaluation upon transfer from property, | |||
plant and equipment and prepaid lease payments to | |||
investment properties | (15,262) | - | |
3,077 | 58,601 | ||
Item that may be reclassified subsequently to profit or loss: | |||
Decrease in fair value of available-for-sale investment | - | (4,057) | |
Other comprehensive income for the year | 3,077 | 54,544 | |
Total comprehensive (expenses) income for the year | (443,460) | 30,529 | |
2 |
2018 | 2017 | |
NOTE | HK$'000 | HK$'000 |
(Restated) | ||
Profit (loss) for the year attributable to | ||
owners of the Company: | ||
- from continuing operations | 9,549 | (41,368) |
- from discontinued operations | (310,090) | 12,073 |
(300,541) | (29,295) | |
Profit (loss) for the year attributable to | ||
non-controlling interests: | ||
- from continuing operations | 135 | (72) |
- from discontinued operations | (146,131) | 5,352 |
(145,996) | 5,280 | |
(446,537) | (24,015) | |
Total comprehensive (expenses) income | ||
for the year attributable to: | ||
Owners of the Company | (294,792) | 23,606 |
Non-controlling interests | (148,668) | 6,923 |
(443,460) | 30,529 | |
HK cents | HK cents | |
(Loss) earnings per share | 9 | |
From continuing and discontinued operations | ||
Basic | (19.79) | (1.93) |
From continuing operations | ||
Basic | 0.63 | (2.72) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 31 December 2018
2018 | 2017 | ||
NOTES | HK$'000 | HK$'000 | |
Non-current assets | |||
Property, plant and equipment | 5,831 | 200,373 | |
Investment properties | 10 | 236,237 | 439,616 |
Prepaid lease payments | - | 5,071 | |
Interest in an associate | - | - | |
Restricted bank deposit | 11 | - | 46,253 |
242,068 | 691,313 | ||
Current assets | |||
Programmes | - | 8,341 | |
Productions work in progress | 5,207 | 6,403 | |
Trade receivables | 12 | 8,631 | 21,179 |
Other receivables and deposits | 4,058 | 6,152 | |
Amount due from an associate | 1,185 | 995 | |
Prepaid lease payments | - | 132 | |
Structured deposits | - | 1,686 | |
Bank balances and cash | 273,133 | 294,687 | |
292,214 | 339,575 | ||
Current liabilities | |||
Advances from customers | 893 | 5,184 | |
Trade payables | 13 | 3 | 1,653 |
Other payables and accruals | 14 | 185,940 | 92,625 |
Tax liabilities | 12,478 | 9,224 | |
Contract liabilities | 15 | 5,295 | - |
Deferred income | 2,521 | 2,443 | |
207,130 | 111,129 | ||
Net current assets | 85,084 | 228,446 | |
Total assets less current liabilities | 327,152 | 919,759 |
2018 | 2017 | ||
NOTE | HK$'000 | HK$'000 | |
Non-current liabilities | |||
Deferred income | - | 2,657 | |
Deferred tax liabilities | 16,317 | 41,347 | |
16,317 | 44,004 | ||
Net assets | 310,835 | 875,755 | |
Capital and reserves | |||
Share capital | 16 | 15,183 | 15,183 |
Reserves | 419,238 | 835,490 | |
Equity attributable to owners of the Company | 434,421 | 850,673 | |
Non-controlling interests | (123,586) | 25,082 | |
Total equity | 310,835 | 875,755 |
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Global Digital Creations Holdings Ltd. published this content on 24 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 March 2019 11:59:02 UTC