Willas-Array Electronics (Holdings) Limited — Regulatory Filings 2015

Aug 19, 2015

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Singapore Exchange Securities Trading 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.

Singapore Exchange Securities Trading Limited assumes no responsibility for the correctness of any of the statements made, reports contained or opinions expressed in this announcement.

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威雅利電子 ( 集團 ) 有限公司

WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED

(Incorporated in Bermuda with limited liability)

(Hong Kong stock code: 854) (Singapore stock code: W12)

PROFIT WARNING

This announcement is made by the Company pursuant to Rule 13.09 of the HK Listing Rules and the Inside Information Provisions under Part XIVA of the SFO, as well as in accordance with Rule 703 of the Listing Manual of Singapore Exchange Securities Trading Limited.

The Board wishes to inform the Shareholders and potential investors that it is expected that the Company will record a consolidated loss for the six months ending September 30, 2015 as compared to a consolidated profit for the six months ended September 30, 2014.

Important Note: Shareholders should note that this announcement is based on the Board’s preliminary assessment of the unaudited consolidated management accounts of the Group as of July 31, 2015 and such information has neither been reviewed by the audit committee of the Company nor reviewed or audited by the independent auditors of the Company.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company and, in case of doubt, to seek independent advice from professional or financial advisers.

This announcement is made by Willas-Array Electronics (Holdings) Limited (the “Company” and, together with its subsidiaries, the “Group”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “HK Listing Rules”) and the Inside Information Provisions (as defined in the HK Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “SFO”), as well as in accordance with Rule 703 of the Listing Manual of Singapore Exchange Securities Trading Limited.

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The board of directors of the Company (the “Board”) wishes to inform shareholders of the Company (the “Shareholders”) and potential investors that the Board has reason to believe that the Company will record a consolidated loss for the six months ending September 30, 2015 as compared to a consolidated profit for the corresponding period in 2014.

Based on the unaudited consolidated management accounts of the Group for the period between April 1, 2015 and July 31, 2015, the Board has been informed that due to, inter alia , the Company's share of loss of its associated companies, which will likely offset the overall positive result of the Group's core business, this is expected to result in an overall net loss for the Group on a consolidated basis for the six months ending September 30, 2015. The said share of loss of associated companies was primarily due to significant debtor provisions for doubtful debts and significant stock provisions for slow-moving stocks which the relevant associated companies have made and/or will be likely to make during the said six-month period.

The information contained in this announcement is solely based on the information currently available to the Board and the preliminary review by the Group’s management of the said unaudited consolidated management accounts which has neither been reviewed by the audit committee of the Company nor reviewed or audited by the independent auditors of the Company. Therefore, the Board is unable to determine the precise impact of the share of loss of associated companies pending finalization of the Group's interim results. Details of the Group’s financial information will be disclosed in the forthcoming interim results announcement which is expected to be published in mid November 2015. Shareholders are strongly advised to read the interim results announcement in detail once it is available.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company and, in case of doubt, to seek independent advice from professional or financial advisers.

By Order of the Board Willas-Array Electronics (Holdings) Limited Leung Chun Wah Chairman and Executive Director

Hong Kong/Singapore, August 19, 2015

As at the date of this announcement, the Board comprises four Executive Directors, namely Leung Chun Wah (Chairman), Kwok Chan Cheung (Deputy Chairman), Hon Kar Chun (Managing Director) and Leung Hon Shing; and three Independent Non-executive Directors, namely Jovenal R. Santiago, Wong Kwan Seng, Robert and Iu Po Chan, Eugene.

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