Goldway Education Group Limited

金滙教育集團有限公司 *

(incorporated in the Cayman Islands with limited liability)

(Stock code : 8160) FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017 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.

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.

This announcement, for which the directors (the "Director(s)") of Goldway Education Group Limited (the "Company", together with its subsidiaries, the "Group") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules governing the Listing of Securities on the Growth Enterprise Market 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.

This announcement will remain on the "Latest Listed Company Information" page of the website of the Stock Exchange at www.hkexnews.hk for at least seven days from the day of its publication. This announcement will also be published on the Company's website at www.goldwayedugp.com.

FINANCIAL HIGHLIGHTS

For the three months ended 30 June 2017, unaudited operating results of the Group were as follows:

  • revenue of approximately HK$9.2 million, representing a slight decrease of 0.7% comparing to the same period of previous financial year;

  • profit for the three months ended 30 June 2017 amounted to approximately HK$1.6 million, representing a decrease of 22.5% from the same period of previous financial year; and

  • the Directors do not recommend the payment of interim dividend for the three months ended 30 June 2017.

FIRST QUARTERLY RESULTS FOR THE THREE MONTHS ENDED 30 JUNE 2017

The board of Directors (the "Board") of the Company is pleased to announce the unaudited results of the Group for the three months ended 30 June 2017 together with the comparative unaudited figures for the corresponding period in 2016 as follows:

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

For the three months ended 30 June 2017

Three months ended 30 June

2017

2016

Notes

HK$'000

HK$'000

(unaudited)

(unaudited)

Revenue

3

9,229

9,292

Other income

3

12

1

Advertising expenses

(47

(20

Building management fees and rates

(214

(199

Depreciation expenses

(216

(181

Employee benefit expenses

(3,901

(3,565

Operating lease expenses

(2,137

(1,913

Other operating expenses

(782

(437

Listing expenses

-

(402

Profit before income tax expense

1,944

2,576

Income tax expense

5

(321

(481

Profit and total comprehensive income attributable to owners of the Company for the period

1,623

2,095

HK cent

HK cent

Basic earnings per share attributable to equity holders of the Company

6

0.31

0.60

) ) ) ) ) ) ) ) ) ) ) )

)

) ) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the three months ended 30 June 2017

Attributable to owners of the Company

Share capital

Share premium

Capital reserve

Retained profits

Total

HK$'000

HK$'000

HK$'000

HK$'000

HK$'000

Balance as at 1 April 2016

-

-

3,372

12,006

15,378

Special dividends declared

-

-

-

(3,400

(3,400

Profit and total comprehensive income for the year

-

-

-

2,791

2,791

Issue of new shares by share offer

1,725

33,637

-

-

35,362

Capitalisation issue of shares

3,500

(3,500

-

-

-

Expenses incurred in connection with issue of new shares

-

(6,628

-

-

(6,628

At 31 March 2016 and 1 April 2016

5,225

23,509

3,372

11,397

43,503

Profit and total comprehensive income for the period

-

-

-

1,623

1,623

Balance as at 30 June 2017 (unaudited)

5,225

23,509

3,372

13,020

45,126

Balance as at 1 April 2016

-

-

3,372

12,006

15,378

Profit and total comprehensive income for the period

-

-

-

2,095

2,095

Balance as at 30 June 2016 (unaudited)

-

-

3,372

14,101

17,473

) )

)

) )

Goldway Education Group Ltd. published this content on 11 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 August 2017 10:42:04 UTC.

Original documenthttp://www.goldwayedugp.com/pdf/e_first quarterly ann_20170811.pdf

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