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Pacific Online Limited — Earnings Release 2014
Jan 14, 2015
49284_rns_2015-01-14_99b56d1c-3918-47f1-bf13-88e039325bc5.pdf
Earnings Release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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 document.
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PROSPERITY INVESTMENT HOLDINGS LIMITED 嘉進投資國際有限公司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 310)
PROFIT WARNING
This announcement is made by Prosperity Investment Holdings Limited (the “ Company ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).
The board (the “ Board ”) of directors (the “ Directors ”) of the Company wishes to announce that, based on the preliminary review of the unaudited management accounts of the Company and its subsidiaries (together the “ Group ”), despite the increase in revenue and further savings in overall operating expenses, the Group expects to record a significant increase in loss between HK$10 million and HK$15 million for the year ended 31 December 2014, as compared with the loss for the year ended 31 December 2013, primarily due to the following reasons:
- (i) increase in loss arose from the change in fair value of held-for-trading listed equity investments which was caused by the fluctuation of the stock market;
(ii) impairment loss on interest in and loan to an associate; and
- (iii) no fair value gain on embedded derivatives in convertible notes for the year ended 31 December 2014.
The information contained in this announcement is only based on the preliminary assessment by the Board based on the information currently available, including the unaudited consolidated management accounts of the Group for the year ended 31 December 2014 which have not been audited or reviewed by the auditors of the Company.
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
By Order of the Board Prosperity Investment Holdings Limited Cheng Hairong Chairman and Executive Director
Hong Kong, 14 January 2015
As at the date of this announcement, the Board comprises one executive Director, namely Mr. Cheng Hairong, one non-executive Director, namely Mr. Lau Tom Ko Yuen and three independent non-executive Directors, namely Mr. Feng Nien Shu, Mr. Lui Siu Tsuen, Richard and Ms. Wong Lai Kin, Elsa.
* For identification purpose only