Samsonite Group S.A. — Earnings Release 2018

Mar 14, 2019

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.

ETERNITY INVESTMENT LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 764)

UPDATE ON PROFIT WARNING

This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

Reference is made to the Profit Warning Announcement.

Upon the review on the unaudited consolidated management accounts of the Group for the year ended 31 December 2018, the Board wishes to inform the Shareholders and potential investors that the Group expects the loss attributable to owners of the Company for the year ended 31 December 2018 increases significantly by 195% to 205% from HK$195.55 million for the year ended 31 December 2017, instead of 180% to 190% as announced in the Profit Warning Announcement.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by Eternity Investment Limited (the "Company") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the Company's profit warning announcement dated 25 January 2019 (the "Profit Warning Announcement"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Profit Warning Announcement.

Upon the review on the unaudited consolidated management accounts of the Group for the year ended 31 December 2018, the Board wishes to inform the Shareholders and potential investors that the Group expects the loss attributable to owners of the Company for the year ended 31 December 2018 increases significantly by 195% to 205% from HK$195.55 million for the year ended 31 December 2017, instead of 180% to 190% as announced in the Profit Warning Announcement.

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The further increase in the loss attributable to owners of the Company for the year ended 31 December 2018 is mainly attributable to:

(a) the recognition of a loss allowance for expected credit losses of HK$38.92 million on the Group’s receivables; and

(b) the increase in written-off of “construction in progress” classified under “property, plant and equipment” from HK$208.84 million as disclosed in the Profit Warning Announcement to HK$233.62 million.

The Company is in the process of finalising the annual results of the Group for the year ended 31 December 2018 and the related audit work has not yet been completed. The information contained in this announcement is based on the review by the Board on the unaudited consolidated management accounts of the Group for the year ended 31 December 2018 and the information currently available, which have not been confirmed by the Company’s auditors. The audited annual results of the Group for the year ended 31 December 2018 are expected to be announced on or after 25 March 2019.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board
Eternity Investment Limited
Lei Hong Wai
Chairman

Hong Kong, 14 March 2019

As at the date of this announcement, the Board comprises four executive Directors, namely, Mr. Lei Hong Wai, Mr. Cheung Kwok Wai Elton, Mr. Chan Kin Wah Billy and Mr. Cheung Kwok Fan; and three independent non-executive Directors, namely, Mr. Wan Shing Chi, Mr. Ng Heung Yan and Mr. Wong Tak Chuen.

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