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