PROFIT WARNING. The Board also wishes to inform the Shareholders that, due to the intense market competition and the uncertainty in the new distribution channel in respect of the Group’s principal business of production and distribution of audio and audio-visual products conducted through the Fandango USA Group, the Group’s results for the year ending 31 March 2007 may be unfavourably affected.
PROFIT WARNING. The Board also wishes to inform the Shareholders that, due to the intense market competition in the Group’s principal business of production and distribution of audio and audio-visual products conducted through the Fandango USA Group and the uncertainty in the new distribution channel, the Group’s results for the year ending 31 March 2007 may be unfavourably affected. As mentioned in the Group’s interim report for the six months ended 30 September 2006, the drop in the record production and distribution income during that six month period was mainly due to the fact that less popular titles were released during that period. However, as the Group has not yet reached the end of the financial year ending 31 March 2007 and has therefore not yet prepared its consolidated results for the full financial year, the Board is not in a position to quantify the relevant financial implications at this stage. Further details of the Group’s performance will be disclosed when the annual results for the year ending 31 March 2007 are announced, expected before 30 June 2007.
PROFIT WARNING. In view of the uncertainties as to whether the Group will be able to recover the amount being debited by the Loan Bank, the amount of the Prepayment and the amount being paid pursuant to the Purchase Agreement as disclosed in this announcement above, the Board has decided, for the sake of prudence, to make provision for the abovementioned transactions (the ‘‘Provisions’’). The Board wishes to inform the Shareholders and potential investors that the Group expects to record a substantial loss for the six months ended 30 June 2018 as compared to the net profit attributable to the Shareholders for the six months ended 30 June 2017, which was mainly attributable to the disruption of ordinary course of business as a result of the investigation of Xx. Xxx and the making of the Provisions. The Board would like to emphasize that the management of the Company is now actively taking all possible actions, including liaising and negotiating with the relevant suppliers for repayment of the money paid and/or the delivery of the relevant goods to the Group as soon as possible, with a view to minimize the impact of the above incidents on the Group by all means. In particular, the Company shall reserve all the rights against any party involved in this incident. Further announcement(s) will be made as and when appropriate. The information contained in this announcement is only based on the preliminary assessment made by the Board with reference to the unaudited management accounts of the Group for the six months ended 30 June 2018 and information currently available to the Board. This information has not been reviewed or audited by the auditors of the Company. Interim results of the Group for the six months ended 30 June 2018 may be different from the information disclosed in this announcement. Further information will be disclosed in the announcement of the interim results of the Company for the six months ended 30 June 2018, which is expected to be published at the end of August 2018. SUSPENSION OF TRADING At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended with effect from 9: 00 a.m. on 13 August 2018. Trading in the shares of the Company will remain suspended pending the release of announcement(s) regarding, among other things, matters relating to the Financial Assistance, the Prepayment, the Purchase Agreement, and further information of the Independent Investigations. Shareholders and potential investors are advised t...
