[公告]L&A INTL HOLD:2016第三季度業績報告

[公告]L&A INTL HOLD：2016第三季度業績報告

時間：2017年02月14日 21:01:45&nbsp中財網

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 content of this report, 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 report.

This report, for which the directors (the 「Directors」) of L & A International Holdings Limited (the 「Company」)

collectively and individually accept full responsibility, includes particulars given in compliance with the

Rules Governing the Listing of Securities on the GEM 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 report 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 report misleading.

香港聯合交易所有限公司（「聯交所」）創業板（「創業板」）的特色

創業板乃為較其他於聯交所上市的公司帶有較高投資風險的公司提供一個上市市場。有意投

資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。創業板

的較高風險及其他特色意味著創業板較適合專業及其他經驗豐富的投資者。

由於創業板上市公司的新興性質所然，於創業板買賣的證券可能會較於聯交所主板買賣的證

券承受較大的市場波動風險，同時無法保證於創業板買賣的證券會有高流通量的市場。

香港交易及結算所有限公司及香港聯合交易所有限公司對本報告的內容概不負責，對其準確

性或完整性亦不發表任何聲明，並明確表示概不就因本報告全部或任何部分內容所產生或因

依賴該等內容而引致的任何損失承擔任何責任。

本報告乃遵照聯交所創業板證券上市規則（「創業板上市規則」）之規定提供有關樂亞國際控股

有限公司（「本公司」）的資料。本公司各董事（「董事」）共同及個別對本報告承擔全部責任。董

事於作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均屬準

確及完整，且並無誤導或欺詐成分，亦無遺漏任何其他事項，致使本報告內任何聲明或本報

告有所誤導。

Corporate Information

公司資料

1

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

REGISTERED OFFICE IN

THE CAYMAN ISLANDS

Maples Corporate Services Limited

P.O. Box 309, Ugland House

Grand Cayman, KY-1104

Cayman Islands

HEADQUARTERS AND PRINCIPAL

PLACE OF BUSINESS IN HONG KONG

Flat 1, Block C, 11/F

Hong Kong Spinner Industrial Building, Phase 5

762 Cheung Sha Wan Road, Kowloon

Hong Kong

EXECUTIVE DIRECTORS

Mr. Ng Ka Ho (Chairman)

NON-EXECUTIVE DIRECTOR

Mr. Wong Chiu Po

INDEPENDENT NON-EXECUTIVE

DIRECTORS

Mr. Chan Ming Sun Jonathan

Mr. Kwong Lun Kei Victor

Mr. Ma Chi Ming

COMPANY SECRETARY

Mr. Leung Tze Wai CPA

COMPLIANCE OFFICER

Mr. Ng Ka Ho

AUDIT COMMITTEE

Mr. Chan Ming Sun Jonathan (Chairman)

Mr. Kwong Lun Kei Victor

Mr. Ma Chi Ming

REMUNERATION COMMITTEE

Mr. Kwong Lun Kei Victor (Chairman)

Mr. Ng Ka Ho

Mr. Chan Ming Sun Jonathan

開曼群島註冊辦事處

Maples Corporate Services Limited

P.O. Box 309, Ugland House

Grand Cayman, KY-1104

Cayman Islands

香港總部及主要經營地點

香港

九龍長沙灣道762號

香港紗廠工業大廈第五期

11樓C座1室

執行董事

吳家豪先生（主席）

非執行董事

黃昭堡先生

獨立非執行董事

陳銘燊先生

鄺麟基先生

馬志明先生

公司秘書

梁子煒先生CPA

合規主任

吳家豪先生

審核委員會

陳銘燊先生（主席）

鄺麟基先生

馬志明先生

薪酬委員會

鄺麟基先生（主席）

吳家豪先生

陳銘燊先生

Corporate Information

公司資料

2

第三季度業績報告 2016 . 樂亞國際控股有限公司

NOMINATION COMMITTEE

Mr. Kwong Lun Kei Victor (Chairman)

Mr. Chan Ming Sun Jonathan

Mr. Ng Ka Ho

AUTHORISED REPRESENTATIVES

Mr. Ng Ka Ho

Mr. Leung Tze Wai

PRINCIPAL SHARE REGISTRAR AND

TRANSFER OFFICE IN THE CAYMAN

ISLANDS

Maples Fund Services (Cayman) Limited

PO Box 1093, Boundary Hall

Cricket Square

Grand Cayman, KY1-1104

Cayman Islands

BRANCH SHARE REGISTRAR AND

TRANSFER OFFICE IN HONG KONG

Boardroom Share Registrars (HK) Limited

31/F, 148 Electric Road

North Point

Hong Kong

PRINCIPAL BANKER

The Hongkong and Shanghai Banking

Corporation Limited

COMPLIANCE ADVISER

TC Capital International Limited

AUDITORS

Deloitte Touche Tohmatsu

Certified Public Accountants

LEGAL ADVISER

Kwok Yih & Chan

COMPANY』S WEBSITE

www.lna.com.hk

STOCK CODE

8195

提名委員會

鄺麟基先生（主席）

陳銘燊先生

吳家豪先生

授權代表

吳家豪先生

梁子煒先生

開曼群島主要股份過戶登記處

Maples Fund Services (Cayman) Limited

PO Box 1093, Boundary Hall

Cricket Square

Grand Cayman, KY1-1104

Cayman Islands

香港股份過戶登記分處

寶德隆證券登記有限公司

香港

北角

電氣道148號31樓

主要往來銀行

香港上海滙豐銀行有限公司

合規顧問

天財資本國際有限公司

核數師

德勤 . 關黃陳方會計師行

執業會計師

法律顧問

郭葉陳律師事務所

公司網站

www.lna.com.hk

股份代號

8195

Condensed Consolidated Statement of

Profit or Loss and Other Comprehensive Income

簡明綜合損益及其他全面收益表

3

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

The board (the 「Board」) of directors of the Company is

pleased to present the unaudited condensed consolidated

results of the Company and its subsidiaries (collectively

referred to as the 「Group」) for the three months and nine

months ended 31 December 2016 together with the

unaudited comparative figures for the corresponding

period in 2015 as follows:

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

NOTES

HK$』000

HK$』000

HK$』000

HK$』000

附註

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Revenue

收益

3

5,048

39,669

52,561

158,909

Cost of sales

銷售成本

8

(4,007)

(31,122)

(57,514)

(124,234)

Gross profit

毛利

1,041

8,547

(4,953)

34,675

Other income

其他收入

4

93

821

227

6,168

Fair value change in structured

bank deposit

結構性銀行存款的

公平值變動

–

84

–

(23)

Other gains and losses

其他收益及虧損

5

–

1,402

(47)

949

Selling and distribution expenses

銷售及分銷開支

(1,083)

(3,009)

(4,233)

(8,839)

Administrative expenses

行政開支

(20,588)

(10,330)

(86,371)

(32,079)

Share of result of an associate

應佔一家聯營公司

的業績

(19,903)

–

(27,748)

–

Finance costs

財務成本

6

(53)

(562)

(799)

(1,795)

Loss before taxation

除稅前虧損

(40,493)

(3,047)

(123,924)

(944)

Income tax credit (expense)

所得稅抵免（開支）

7

23

(375)

313

(3,138)

Loss for the period

期內虧損

8

(40,470)

(3,422)

(123,611)

(4,082)

本公司董事會（「董事會」）欣然提呈本

公司及其附屬公司（統稱「本集團」）截

至二零一六年十二月三十一日止三個

月及九個月的未經審核簡明綜合業

績，連同二零一五年同期的未經審核

比較數字如下：

Condensed Consolidated Statement of

Profit or Loss and Other Comprehensive Income

簡明綜合損益及其他全面收益表

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

4

第三季度業績報告 2016 . 樂亞國際控股有限公司

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

NOTES

HK$』000

HK$』000

HK$』000

HK$』000

附註

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Other comprehensive expense:

其他全面開支：

Item that may be reclassified

subsequently to profit or loss:

其後可能重新分類

至損益的項目：

Exchange differences arising

on the translation of foreign

operations

換算海外業務產生

的匯兌差額

(1,183)

(491)

(2,226)

(2,542)

Other comprehensive expense

for the period

期內其他全面開支

(1,183)

–

(2,226)

–

Total comprehensive expense

for the period

期內全面開支總額

(41,653)

(3,913)

(125,837)

(6,624)

Loss for the period attributable to:

以下人士應佔期內

虧損：

Owners of the Company

本公司擁有人

(39,845)

(3,422)

(122,098)

(4,082)

Non-controlling interests

非控股權益

(625)

–

(1,513)

–

(40,470)

(3,422)

(123,611)

(4,082)

Total comprehensive expenses

for the period attributable to:

以下人士應佔期內

全面開支總額：

Owners of the Company

本公司擁有人

(41,044)

(3,913)

(124,339)

(6,624)

Non-controlling interests

非控股權益

(609)

–

(1,498)

–

(41,653)

(3,913)

(125,837)

(6,624)

Loss per share

每股虧損

10

Basic (HK cents)

基本（港仙）

(0.156)

(0.017)

(0.530)

(0.020)

Diluted (HK cents)

攤薄（港仙）

(0.156)

N/A

不適用

(0.530)

N/A

不適用

Condensed Consolidated Statement of

Changes in Equity

簡明綜合權益變動表

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

5

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

Share

capital

Share

premium

Translation

reserve

Special

reserve

Share

options

reserve

Other

reserve

Retained

profits/

(Accumulated

losses)

Total

Non–

controlling

interests

Total

equity

股本

股份溢價

匯兌儲備

特別儲備

購股權儲備

其他儲備

保留溢利╱

（累計虧損）

總計

非控股權益

權益總額

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

千港元

千港元

千港元

千港元

千港元

千港元

(Note (i))

(Note (ii))

（附註(i)）

（附註(ii)）

At 1 April 2015 (audited)

於二零一五年四月一日

（經審核）

40,000

23,823

8,927

28,431

–

4,327

23,109

128,617

–

128,617

Exchange differences arising on

the translation of foreign

operations

換算海外業務所產生

的匯兌差額

–

–

(2,051)

–

–

–

–

(2,051)

–

(2,051)

Loss for the period

期內虧損

–

–

–

–

–

–

(660)

(660)

–

(660)

Total comprehensive income

(expense) for the period

期內全面收益（開支）

總額

–

–

(2,051)

–

–

–

(660)

(2,711)

–

(2,711)

At 31 December 2015

(unaudited)

於二零一五年

十二月三十一日

（未經審核）

40,000

23,823

6,876

28,431

–

4,327

22,449

125,906

–

125,906

At 1 April 2016 (audited)

於二零一六年四月一日

（經審核）

40,000

23,823

3,374

28,431

–

4,327

(6,193)

93,762

–

93,762

Exchange differences arising on

the translation of foreign

operations

換算海外業務所產生

的匯兌差額

–

–

(2,241)

–

–

–

–

(2,241)

15

(2,226)

Loss for the period

期內虧損

–

–

–

–

–

–

(122,098)

(122,098)

(1,513)

(123,611)

Total comprehensive income

(expense) for the period

期內全面收益（開支）

總額

–

–

(2,241)

–

–

–

(122,098)

(124,339)

(1,498)

(125,837)

Acquisition of an associate

through issuance of share

透過發行股份收購

一家聯營公司

2,260

470,127

–

–

–

–

–

472,387

–

472,387

Acquisition of a business

收購一項業務

–

–

13

–

–

–

–

13

4,051

4,064

Placing of shares

配售股份

5,740

54,241

–

–

–

–

–

59,981

–

59,981

Transaction costs attributable to

issuance of shares

發行股份應佔交易成本

–

(600)

–

–

–

–

–

600

–

600

Recognition of equity-settled

share-based payments

確認以股本結算以股份

為基礎付款

–

–

–

–

37,006

–

–

37,006

–

37,006

Exercise of share option

行使購股權

3,200

70,542

–

–

(32,782)

–

–

40,960

–

40,960

At 31 December 2016

(unaudited)

於二零一六年

十二月三十一日

（未經審核）

51,200

618,133

1,146

28,431

4,224

4,327

(128,291)

579,170

2,553

581,723

Condensed Consolidated Statement of

Changes in Equity

簡明綜合權益變動表

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

6

第三季度業績報告 2016 . 樂亞國際控股有限公司

Notes:

(i) Special reserve represented the difference between

the nominal amount of the share capital and share

premium issued by L & A Interholdings Inc. and the

nominal amount of the share capital issued by the

Company pursuant to the group reorganisation.

(ii) Other reserve arose from the waiver of loan from a

controlling shareholder of the Company in previous

years.

附註：

(i) 特別儲備指 L & A Interholdings Inc.

所發行股本的面值及股份溢價與本

公司根據集團重組所發行股本面值

之間的差額。

(ii) 其他儲備產生自本公司一名控股股

東於過往年度免除貸款還款。

Notes to the Condensed Consolidated

Financial Statements

簡明綜合財務報表附註

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

7

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

1. 一般資料

本公司於二零一四年六月五日

在開曼群島註冊成立為獲豁免

有限公司。本公司股份自二零

一四年十月十日起於香港聯合

交易所有限公司（「聯交所」）創

業板上市。根據於二零一六年

五月十一日的強制執行，由於

在英屬處女群島註冊成立的私

人 有 限 公 司Yang’s Holdings

Capital Limited向 一 名 香 港

持 牌 放 債 人 簽 立 涉 及 本 公 司

股本中840,000,000股股份的股

份 押 記，作 為Yang’s Holdings

Capital Limited所 獲 授 定 期

貸 款 融 資 的 抵 押， 令Yang’s

Holdings Capital Limited的 股 權

由51.02%減至30.02%（「股份押

記 」），Yang’s Holdings Capital

Limited不再為本公司直接控股

公 司。 因 此，Yang’s Holdings

Capital Limited的控股公司、在

英屬處女群島註冊成立的私人

有 限 公 司YWH Investment

Holding Limited及 控 制YWH

Investment Holding Limited的楊

文 豪 先 生 於 二 零 一 六 年 五 月

十一日不再為本公司最終控股

股東。本公司的註冊辦事處及

主要營業地點的地址分別為P.O.

Box 309, Ugland House, Grand

Cayman, KY–1104 Cayman

Islands 及香港九龍長沙灣道762

號香港紗廠工業大廈第五期11

樓C座1室。

本公司為投資控股公司。本集

團主要從事製造、銷售及零售

服裝產品以及放債業務。

1. GENERAL INFORMATION

The Company was incorporated in the

Cayman Islands as an exempted company

with limited liability on 5 June 2014. The

Company’s shares have been listed on the

Growth Enterprise Market of The Stock

Exchange of Hong Kong Limited (the 「Stock

Exchange」) from 10 October 2014. Pursuant

to the enforcement on 11 May 2016, as a

result of the share charge over 840,000,000

shares in the share capital of the Company

executed by Yang’s Holdings Capital Limited,

a private limited company incorporated in the

British Virgin Islands, in favor of a licensed

money lender in Hong Kong as security for a

term loan facility granted to Yang’s Holdings

Capital Limited, which reduced the

shareholding interests of Yang’s Holdings

Capital Limited, from 51.02% to 30.02% (the

「Share Charge」), Yang’s Holdings Capital

Limited ceased to be the Company’s

immediate holding company. Accordingly, the

holding company of Yang’s Holdings Capital

Limited, YWH Investment Holding Limited, a

private limited company incorporated in the

British Virgin Islands and Mr. Yang Wan Ho

who controls YWH Investment Holding

Limited, also ceased to be the ultimate

controlling shareholder of the Company on 11

May 2016. The addresses of the registered

office and the principal place of business of

the Company are P.O. Box 309, Ugland House,

Grand Cayman, KY-1104 Cayman Islands and

Flat 1, Block C, 11/F, Hong Kong Spinner

Industrial Building, Phase 5, 762 Cheung Sha

Wan Road, Kowloon, Hong Kong, respectively.

The Company is an investment holding

company. The Group is principally engaged in

the manufacturing, sales and retailing of

garment products and money lending

business.

Notes to the Condensed Consolidated

Financial Statements

簡明綜合財務報表附註

For the nine months ended 31 December 2016 截至二零一六年十二月三十一日止九個月

8

第三季度業績報告 2016 . 樂亞國際控股有限公司

2. 編製基準

本集團截至二零一六年十二月

三十一日止三個月及九個月的

未經審核簡明綜合財務報表已

根據香港會計師公會頒佈的香

港財務報告準則（「香港財務報

告準則」）及創業板上市規則的

適用披露規定編製。

除若干財務工具按於各報告期

末的公平值計量外，未經審核

簡明綜合財務報表已按歷史成

本基準編製。歷史成本通常基

於就換取貨品及服務所支付代

價的公平值計算。

除新訂及經修訂香港財務報告

準則外，編製未經審核簡明綜

合財務報表所應用的編製基準

及會計政策與截至二零一六年

三月三十一日止年度的年報所

採納者一致。簡明綜合財務報

表乃未經審核，但已由本公司

審核委員會審閱。

2. BASIS OF PREPARATION

The unaudited condensed consolidated

financial statements of the Group for the

three months and nine months ended 31

December 2016 have been prepared in

accordance with the Hong Kong Financial

Reporting Standards (「HKFRSs」) issued by the

Hong Kong Institute of Certified Public

Accountants and the applicable disclosure

requirements of the GEM Listing Rules.

The unaudited condensed consolidated

financial statements have been prepared on

the historical cost basis except for certain

financial instruments that are measured at fair

values at the end of each reporting period.

Historical cost is generally based on the fair

value of the consideration given in exchange

for goods and services.

The basis of preparation and accounting

policies applied in the preparation of the

unaudited condensed consolidated financial

statements are consistent with those adopted

in the annual report for the year ended 31

March 2016, except for the new and revised

HKFRSs. The condensed consolidated financial

statements are unaudited, but have been

reviewed by the Audit Committee of the

Company.

3. 收益

收益指報告期內所售出貨品的

發票價值。

4. 其他收入

3. REVENUE

Revenue represents the invoiced values of

goods sold during the reporting period.

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

OEM Business

原設備製造業務

1,088

32,745

43,933

144,015

Retail Business

零售業務

1,095

6,924

4,808

14,894

Money Lending Business

放債業務

2,865

–

3,820

–

5,048

39,669

52,561

158,909

4. OTHER INCOME

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Claim received from customers

for cancelled orders

就客戶取消訂單收取

的索償

–

560

108

5,646

Rental income

租金收入

–

–

–

83

Bank interest income

銀行利息收入

6

1

20

2

Others

其他

87

260

99

437

93

821

227

6,168

5. 其他收益及虧損

6. 財務成本

5. OTHER GAINS AND LOSSES

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Gain on disposal of property

plant and equipment

出售物業、廠房及設備

的收益

–

1,404

–

1,221

Others

其他

–

(2)

(47)

(272)

–

1,402

(47)

949

6. FINANCE COSTS

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Interest on:

下列各項的利息：

Bank borrowings wholly

repayable within five years

須於五年內悉數

償還的銀行借貸

11

558

696

1,787

Obligations under finance

leases

融資租賃債務

–

4

–

8

Amounts due to directors

應付董事款項

42

–

103

–

53

562

799

1,795

7. 所得稅（抵免）開支

附註：

(i) 香港

香港利得稅乃按估計應課稅

溢利的16.5%計算。

(ii) 中國

中國企業所得稅乃按該等於

中國成立的附屬公司應課稅

溢利25%的法定稅率計算，

有關稅率乃根據中國相關所

得稅規例及條例釐定。

7. INCOME TAX (CREDIT) EXPENSE

Three months ended

31 December

Nine months ended

31 December

截至十二月三十一日止三個月

截至十二月三十一日止九個月

2016

2015

2016

2015

二零一六年

二零一五年

二零一六年

二零一五年

HK$』000

HK$』000

HK$』000

HK$』000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

（未經審核）

（未經審核）

（未經審核）

（未經審核）

Hong Kong Profits Tax (Note (i))

— current period

香港利得稅（附註(i)）

— 本期間

196

588

196

3,225

PRC Enterprise Income Tax (「EIT」)

(Note (ii)) — current period

中國企業所得稅

（「企業所得稅」）

（附註 (ii)） — 本期間

–

(186)

–

–

196

402

–

3,225

Deferred tax

遞延稅項

(219)

(27)

(509)

(87)

(23)

375

(313)

3,138

Notes:

(i) Hong Kong

Hong Kong Profits Tax is calculated at 16.5%

of the estimated assessable profit.

(ii) PRC

PRC EIT is calculated based on the statutory

rate of 25% of the assessable profit for those

subsidiaries established in the PRC, as

determined in accordance with the relevant

income tax rules and regulations in the PRC.

10. 每股虧損（續）

附註： 計算截至二零一六年十二月

三十一日止三個月及九個月

的每股攤薄虧損並無假設本

公司購股權獲行使，原因為

行使將會導致每股虧損增加。

計 算 截 至 二 零 一 六 年 及 二 零

一五年十二月三十一日止三個

月及九個月的每股基本盈利（虧

損）所用的普通股加權平均數已

就股份拆細作出調整。

由於本公司於兩個期間並無發

行在外的潛在攤薄普通股，故

並無呈列截至二零一五年十二

月三十一日止三個月及九個月

的每股攤薄虧損。

11. 法律訴訟

本公司股份登記（「登記」）

茲提述本公司日期為二零一六

年八月九日及二零一六年十月

二十八日的公佈，內容有關由

(i) Sun Jiyou；(ii) Chen Haiyan；

( i i i ) L i u J i n g ； ( i v ) L i n g

Chuanshun；(v) Zhang Bing；及

(vi) Xiao Laiwen作為 原 告（統 稱

「登記原告」）入稟香港高等法院

（「 法 院 」）對 本 公 司 及Yang’s

Ho l d i n g s Ca p i t a l L imi t e d

（「Yang’s Holdings」）作 為 被 告

發 出 日 期 為 二 零 一 六 年 七 月

二十七日的原訴傳票（「登記原

訴傳票」）（「登記法律程序」），

以及登記法律程序的登記原告

入稟發出日期為二零一六年七

月 二 十 八 日 的 傳 票（「 登 記 傳

票」）。

10. LOSS PER SHARE (Continued)

Note: The computation of diluted loss per share for

the three months and nine months ended 31

December 2016 does not assume the

exercise of the Company’s share options

since their exercise would result in an

increase in loss per share.

The weighted average number of ordinary

shares for the purpose of basic earnings (loss)

per share for the three months and nine

months ended 31 December 2016 and 2015

have been adjusted for the subdivision of

shares.

No diluted loss per share has been presented

for the three months and nine months ended

31 December 2015 as the Company has no

potential dilutive ordinary shares outstanding

during both periods.

11. LEGAL PROCEEDING

Registration of Shares of the

Company (the 「Registration」)

Reference is made to the Company’s

announcements dated 9 August 2016 and 28

October 2016 respectively in relation to the

originating summons dated 27 July 2016 (the

「Originating Summons of the Registration」)

filed by (i) Sun Jiyou; (ii) Chen Haiyan; (iii) Liu

Jing; (iv) Ling Chuanshun; (v) Zhang Bing; and

(vi) Xiao Laiwen as the plaintiffs (collectivity,

the 「Plaintiffs of the Registration」) against the

Company and Yang’s Holding Capital Limited

(「Yang’s Holding」) as the defendants in the

High Court of Hong Kong (the 「Court」) (the

「Legal Proceedings of the Registration」) and a

summons dated 28 July 2016 (the 「Summons

of the Registration」) filed by the Plaintiffs of

the Registration for the Legal Proceedings of

the Registration.

11. 法律訴訟（續）

本 公 司 股 份 登 記（「 登 記 」）

（續）

根據登記原訴傳票，登記原告

尋求（其中包括）(i) 法庭頒令本

公 司 須 登 記 聲 稱 由Yang’s

Holdings轉讓予登記原告的合共

1,545,000,000股本公司股份（「有

關股份」）；(ii) 法庭宣佈登記原

告按各自所佔比例為有關股份

的實益擁有人；及 (iii) 頒發禁制

令 促 使（ 其 中 包 括 ）Yang’s

Holdings在登記原告登記為本公

司登記股東之前須按登記原告

的指示行使有關股份附帶的全

部權利（包括但不限於在本公司

股東大會的表決權），而本公司

須承認及╱或計算登記原告在

股東大會上行使的表決權。

根據登記傳票，登記原告申請

（其中包括）(i) 頒令強制Yang’s

Holdings於本公司任何股東大會

上按登記原告指示行使其表決

權；(ii) 頒令本公司須辦理有關

股 份 的 轉 讓 登 記（「 尋 求 登 記

令」）；及 (iii) 向本公司頒發禁制

令不得舉行任何股東大會（包括

但不限於股東週年大會），直至

辦妥有關股份登記手續翌日（「尋

求禁制令」）。

11. LEGAL PROCEEDING (Continued)

Registration of Shares of the

Company (the 「Registration」)

(Continued)

In the Originating Summons o f t h e

Registration, the Plaintiffs of the Registration

sought, inter alia, (i) orders from the Court

that the Company shall register in aggregate

of 1,545,000,000 shares of the Company (the

「Relevant Shares」) which were allegedly

transferred from Yang’s Holdings to the

Plaintiffs of the Registration; (ii) declaration

from the Court that the Plaintiffs of the

Registration are the beneficial owners of the

Relevant Shares in their respective proportion;

and (iii) an injunction, inter alia, that pending

registration of the Plaintiffs of the Registration

as the registered shareholders of the

Company, Yang’s Holdings shall exercise all

rights attached to the Relevant Shares

(including but not limited to voting rights at

general meetings of the Company) according

to the instructions of the Plaintiffs of the

Registration and, that the Company shall

exercise and/or count the votes of the

Plaintiffs of the Registration in the general

meetings.

In the Summons of the Registration, the

Plaintiffs of the Registration applied for, inter

alia, (i) an order that Yang’s Holdings be

compelled to exercise its voting rights in any

general meetings of the Company in

accordance with the instructions of the

Plaintiffs of the Registration; (ii) an order that

the Company shall register the transfer of the

Relevant Shares (the 「Registration Order

Sought」); and (iii) an injunction against the

Company that the Company be restrained

from holding any general meeting of the

shareholders (including but not limited to the

annual general meeting) until such date after

the completion of the registration of the

Relevant Shares (the 「Injunction Sought」).

11. 法律訴訟（續）

本 公 司 股 份 登 記（「 登 記 」）

（續）

登記傳票已於二零一六年八月

五日進行聆訊，法院頒令（其中

包括）(i)Yang’s Holdings 須於本

公司任何股東大會上按登記原

告指示行使有關股份的表決權

（「表決令」）及押後爭論登記原

告於登記傳票中尋求的其他命

令。

於二零一六年八月二十三日，

聲稱於有關股份擁有權益的飛

亞物業按揭有限公司（「飛亞物

業按揭」）發出一份傳票（「飛亞

物業按揭傳票」），要求許可（其

中包括）(i) 介入登記法律程序；

(ii) 加入為登記法律程序的第三

被告；及 (iii) 修改表決令，以使

Yang’s Holdings 不得於本公司

任何股東大會上行使有關股份

的表決權。

法院於二零一六年十月二十六

日作出書面判決，裁定（其中包

括）(i) 撤銷登記傳票中尋求登記

令及尋求禁制令；(ii) 修改表決

令， 以 使Yang’s Holdings 不 得

於本公司任何股東大會上行使

有關股份的表決權，直至有進

一步頒令；(iii) 飛亞物業按揭獲

準介入登記法律程序及加入為

第三被告；及 (iv) 本公司不得登

記有關股份，直至法院作進一

步命令。

11. LEGAL PROCEEDING (Continued)

Registration of Shares of the

Company (the 「Registration」)

(Continued)

The Summons of the Registration was heard

on 5 August 2016, the Court ordered, inter

alia, that (i) Yang’s Holdings shall exercise its

voting rights in respect of the Relevant Shares

in any general meetings of the Company in

accordance with the instructions of the

Plaintiffs of the Registration (the 「Voting

Order」) and the other orders sought by the

Plaintiffs of the Registration in the Summons

of the Registration be adjourned for

argument.

On 23 August 2016, Flying Mortgage Limited

(the 「Flying Mortgage」), who claims to have

interests in the Relevant Shares, issued a

summons (「Flying Mortgage Summons」), inter

alia, for leave to (i) intervene in the Legal

Proceedings of the Registration; (ii) be joined

as the third defendant in the Legal

Proceedings of the Registration; and (iii) vary

the Voting Order to the effect that Yang’s

Holding shall not exercise its voting rights in

respect of the Relevant Shares in any general

meeting of the Company.

The Court gave a written decision on 26

October 2016 and ruled, inter alia, that (i) the

Registration Order Sought and the Injunction

Sought in the Summons of the Registration be

dismissed; (ii) the Voting Order be varied to

the effect that Yang’s Holdings shall not

exercise its voting rights in respect of the

Relevant Shares in any general meeting of the

Company until further order; (iii) Flying

Mortgage was allowed to intervene and be

jointed as the third defendant in the Legal

Proceedings of the Registration; and (iv) the

Company shall not register the Relevant

Shares until further order of the Court.

11. 法律訴訟（續）

本 公 司 股 份 登 記（「 登 記 」）

（續）

本公司董事將遵循有關股份登

記的法院命令。

本公司的購股權（「購股權」）

茲提述本公司日期為二零一六

年九月二日的公佈，內容有關

（其中包括）本公司法律顧問於

二零一六年八月二十六日接獲(i)

葛 慶 福 、 L i Qu a n 及 L i u

Longcheng（作為原告，統稱「購

股權原告」）入稟法院向本公司

及本公司全體董事（「董事」）及

楊詩恆先生（「楊先生」）（作為被

告）發出的原訴傳票草擬本；及

(ii) 強制令草擬本。

本公司法律顧問於二零一六年

八月三十日收到一疊聆訊文件，

當中包括（其中包括）購股權原

告於二零一六年八月二十六日

發出的原訴傳票（「購股權原訴

傳票」），於法院向本公司、董

事、楊先生、本公司日期為二

零一六年八月二十二日的公佈

（「購股權公佈」）所述八名購股

權承授人及兩家經紀公司（作為

被告）提出索償（「購股權法律程

序」），以及購股權法律程序的

強制令草擬本。

11. LEGAL PROCEEDING (Continued)

Registration of Shares of the

Company (the 「Registration」)

(Continued)

The directors of the Company will follow the

Court order in relation to the Registration of

the Shares.

Share Options of the Company (the

「Share Options」)

Reference is made to the Company’s

announcement dated 2 September 2016 in

relation to, inter alia, (i) a draft originating

summons to be filed by Ge Qingfu, Li Quan

and Liu Longcheng as the plaintiffs

(collectivity, the 「Plaintiffs of the Share

Options」) against the Company and all the

directors of the Company (the 「Directors」)

and Mr. Yang Si Hang (「Mr. Yang」) as the

defendants in the Court; and (ii) a draft

injunction order received by the Company’s

legal adviser on 26 August 2016.

The Company’s legal adviser received on 30

August 2016 a hearing bundle containing,

inter alia, an originating summons (the

「Originating Summons of the Share Options」)

issued by the Plaintiffs of the Share Options

on 26 August 2016 and claimed against the

Company, the Directors, Mr. Yang, eight

grantees of share options referred to in the

Company’s announcement dated 22 August

2016 (the 「Share Option Announcement」),

and two broker firms as the defendants in the

Court (the 「Legal Proceedings of the Share

Options」) and a draft injunction order for the

Legal Proceedings of the Share Options.

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

於購股權原訴傳票內，購股權

原告尋求（其中包括）(i) 聲明購

股權公佈所述授出2,000,000,000

份購股權（「指稱購股權」）屬無

效及不具法律效力或可被撤銷；

(ii) 聲明因任何指稱購股權獲行

使而配發任何股份屬無效及不

具法律效力或可被撤銷；(iii) 限

制本公司、董事及楊先生（不論

自行及由其主管、僱員、代理

或其他人士行事）：(1) 確認或落

實或以其他方式採取任何步驟

以執行任何指稱購股權的意圖

行使；(2) 確認或落實或以其他

方式採取任何步驟以執行指稱

購 股 權 獲 行 使 所 涉 及

1,800,000,000股 本 公 司 股 份 附

帶的任何安排、權利（包括投票

權）或權力；(3) 採取或促使採取

任何步驟以改變本公司的已發

行股本，惟出於適當目的及符

合本公司最佳利益者除外；(4)

採取或促使採取任何步驟以阻

撓或拒絕原告就召開本公司股

東特別大會所發出日期為二零

一六年八月二十三日的要求通

知（「原告要求」）所載要求；或

頒令本公司須於根據本公司組

織章程細則第12.3條送達要求

當日起計21日內召開原告要求

所載的股東特別大會。

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

In the Originating Summons of the Share

Options, the Plaintiffs of the Share Options

sought reliefs, inter alia, (i) a declaration that

the granting of the 2,000,000,000 share

options referred to in the Share Option

Announcement (「Purported Options」) is void

and of no legal effect or, alternatively,

voidable; (ii) a declaration that any allotment

of shares made pursuant to the exercise of

any of the Purported Options is void and no

legal effect or, alternatively, voidable; (iii) the

Company, the Directors and Mr. Yang

(whether acting by themselves, their officers,

servants, agents or otherwise howsoever) be

restrained from: (1) recognising or giving

effect or otherwise taking any step to

implement the purported exercise of any of

the Purported Options; (2) recognising or

giving effect or otherwise taking any step to

implement the exercise of any disposition,

rights (including voting rights) or power

attached to the 1,800,000,000 shares of the

Company derived from the exercise of the

Purported Options; (3) taking, or procuring the

taking, of any steps to alter the issued share

capital of the Company save and except for

those which are for proper purposes and in

the best interests of the Company; (4) taking ,

or procuring the taking, of any step to

frustrate or defeat the requisition contained in

the notice of requisition dated 23 August 2016

issued by the Plaintiffs (the 「Plaintiffs

Requisition」) for the purpose of convening an

extraordinary general meeting of the

Company to be held; or alternatively, an order

requiring the Company to convene the

extraordinary general meeting set out in the

Plaintiffs Requisition within 21 days from the

date of deposit of the requisition in

accordance with Article 12.3 of the Articles of

Association of the Company.

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

於強制令草擬本內，原告針對

本公司、董事及楊先生尋求下

列事項（「單方面強制令申請」），

要求於法律程序作出判決或法

院進一步頒令前，限制本公司、

董事及楊先生（不論自行及由其

主管、僱員、代理或其他人士

行事）：(i) 確認或落實或以其他

方式採取任何步驟以執行任何

指稱購股權的意圖行使；(ii) 確

認或落實或以其他方式採取任

何步驟以執行指稱購股權獲行

使 所 涉 及1,800,000,000股 本 公

司股份附帶的任何安排、權利

（包括投票權）或權力；(iii) 採取

或促使採取任何步驟以改變本

公司的已發行股本，惟出於適

當目的及符合本公司最佳利益

者除外；(iv) 採取或促使採取任

何步驟以阻撓或拒絕原告就召

開本公司股東特別大會所發出

的原告要求；及頒令本公司須

於根據本公司組織章程細則第

12.3條送達要求當日起計21日

內召開原告要求所載的股東特

別大會。

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

In the draft injunction order, the Plaintiffs

sought the following reliefs against the

Company, the Directors and Mr. Yang (the 「Ex

Parte Injunction Application」) that until

determination of the Legal Proceedings or

further order of the Court, the Company, the

Directors and Mr. Yang (whether acting by

themselves, their officers, servants, agents or

otherwise howsoever) be restrained from: (i)

recognizing or giving effect or to otherwise

taking any step to implement the purported

exercise of any of Purported Options; (ii)

recognizing or giving effect or otherwise taking

any step to implement the exercise of any

disposition, rights (including voting rights) or

power attached to the 1,800,000,000 shares of

the Company derived from the exercise of the

Purported Options; (iii) taking or procuring the

taking, of any steps to alter the issued share

capital of the Company save for those which

are for proper purposes and in the best

interests of the Company; (iv) taking or

procuring the taking, of any steps to frustrate

or defeat the Plaintiffs』 Requisition for the

purpose of convening an Extraordinary General

Meeting of the Company to be held and

alternately an Order requiring the Company to

convene the Extraordinary General Meeting set

out in the Plaintiffs』 Requisition within 21 days

from the date of deposit of the requisition in

accordance with Article 12.3 of the Articles of

Association of the Company.

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

單 方 面 強 制 令 申 請 已 於 二 零

一六年八月三十一日舉行聆訊。

於上述聆訊中，本公司及董事

法院承諾（其中包括）未經法院

許 可， 彼 等 不 會 落 實 行 使 該

200,000,000份 尚 未 行 使 購 股

權，及不會改變本公司之已發

行股本。於作出上述承諾後，

法院頒令（其中包括）原告須於

二零一六年九月二日前發出一

份傳召訴訟各方之傳票，確認

針對本公司及董事之禁制令，

而傳票之聆訊將延遲兩日排期。

並無向本公司及董事發出強制

令或披露命令。

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

The hearing of the Ex Parte Injunction

Application was heard on 31 August 2016. In

the said hearing, the Company and the

Directors undertook to the Court, inter alia,

not to give effect to the exercise of any of the

outstanding 200,000,000 share options and

not to alter the issued share capital of the

Company without the leave of the Court.

Upon the said undertakings, the Court

ordered, inter alia, that the Plaintiffs shall

issue an inter parte summons by 2 September

2016 identifying the injunctive reliefs sought

against the Company and the Directors and

that the hearing of the Summons will be fixed

with 2 days reserved. No injunction order or

disclosure order was made against the

Company and Directors.

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

於二零一六年九月二日，原告

發出一份傳召訴訟各方之傳票

（「訴訟各方傳票」），針對（其中

包括）本公司、董事及楊先生尋

求下列事項，要求於法院進一

步頒令前，限制本公司、董事

及 楊 先 生（不 論 自 行 及 由 其 主

管、僱員、代理或其他人士行

事）(i) 確認或落實或以其他方式

採取任何步驟以執行指稱購股

權（涉及行使指稱購股權中任何

本公司聲稱已獲承授人接納而

並未獲發行股份的200,000,000

份購股權及涉及行使指稱購股

權中任何本公司聲稱未獲承授

人接納及已失效的200,000,000

份購股權）；(ii) 為以下目的確認

或落實或以其他方式計入於二

零一六年八月二十三日根據指

稱購股權發行予承授人並以其

名 義 登 記 的1,600,000,000股 股

份：(a) 確定原告於二零一六年

八月二十三日（即原告要求的日

期）所佔本公司股權；(b) 反對或

以其他方式否定原告在董事會

並未於遞交原告要求後21日內

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

On 2 September 2016, the Plaintiffs filed an

Inter Parte Summons (「the Inter Parte

Summons」) seeking the following reliefs

against, inter alia, the Company, the Directors

and Mr. Yang that until further order of the

Court, the Company, the Directors and Mr.

Yang (whether acting by themselves, their

officers, servants, agents or otherwise

howsoever) be restrained from: (i) recognizing

or giving effect or to otherwise taking any step

to implement the Purported Options in

relation to the exercise of any of the

200,000,000 share options out of the

Purported Options, which was described by

the Company as having been accepted by the

grantee(s) and for which no share has been

issued and the excise of any of the

200,000,000 share options out of the

Purported Options which the Company

described as not having been accepted by the

grantee(s) and have lapsed; (ii) recognizing or

giving effect or otherwise taking into account

the 1,600,000,000 shares in the Company

(「the Impugned Shares」) issued to and

registered in the names of the grantees on 23

August 2016 pursuant to the Purported

Options for the following purposes: (a)

determining the Plaintiffs』 shareholding in the

Company as at 23 August 2016, the date of

the Plaintiffs』 Requisition; (b) challenging or

otherwise disputing the Plaintiffs』 right to

convene an extraordinary general meeting of

the Company for the purpose of considering

著手召開股東特別大會的情況

下就考慮原告要求所載建議決

議案而召開本公司股東特別大

會的權利；(c) 反對或以其他方

式 否 定 Favourite Number

Limited與WLS Holdings Limited

於二零一六年八月十八日發出

的聯合公佈所載「附帶先決條件

自願有條件證券交換要約及現

金要約」的效力；(iii) 採取或促

使採取任何步驟以改變本公司

的 已 發 行 股 本（獲 法 院 批 準 除

外）；(iv)採取或促使採取任何步

驟以阻撓或拒絕原告要求，而

另一方面，本公司、董事及楊

先生須於法院頒令後3日內就考

慮（其中包括）原告要求所載建

議決議案召開本公司股東特別

大 會， 或 於14日 內 購 入

1,600,000,000股 本 公 司 股 份 並

退還本公司以供註銷，屆時本

公司須於其後7日內註銷該等股

份，並將本公司就根據指稱購

股 權 發 行1,600,000,000股 本 公

司股份所收款項支付予董事及

楊先生。

the proposed resolutions contained in the

Plaintiffs』 Requisition in the event that the

Board does not within 21 days of the deposit

of the Plaintiff’s Requisition proceed to

convene an extraordinary general meeting; (c)

challenging or otherwise disputing the validity

of the 「pre-conditional voluntary conditional

securities exchange and cash offer」 contained

in the Joint Announcement made by Favourite

Number Limited and WLS Holdings Limited on

18 August 2016; (iii) taking or procuring the

taking, of any steps to alter the issued share

capital of the Company except with the

approval of the Court; (iv) taking or procuring

the taking, of any steps to frustrate or defeat

the Plaintiffs』 Requisition and, alternatively,

the Company, the Directors and Mr. Yang do

convene an Extraordinary General Meeting of

the Company to be held for the purpose of

considering, inter alia, the proposed

resolutions contained in the Plaintiffs』

Requisition within the next 3 days of the order

to be made by the Court, or alternatively, the

Directors and Mr. Yang do within the next 14

days acquire 1,600,000,000 shares in the

Company and return them to the Company

for cancellation, whereupon the Company

shall within the next 7 days cancel those

shares and pay the amount received by the

Company from the issue of 1,600,000,000

shares in the Company pursuant to the

Purported Options to the Directors and Mr.

Yang.

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

11. 法律訴訟（續）

本公司的購股權（「購股權」）

（續）

訴訟各方傳票已於二零一六年

十一月一日及二日舉行聆訊。

於本公司及董事承諾 (i) 接受限

制不確認、落實或以其他方式

採取任何步驟以執行指稱購股

權（涉及行使指稱購股權中任何

本公司聲稱已獲承授人接納而

並未獲發行股份的200,000,000

份購股權及涉及行使指稱購股

權中任何本公司聲稱未獲承授

人接納及已失效的200,000,000

份購股權）；及 (ii) 接受限制不採

取或促使採取任何步驟以改變

本公司的已發行股本（除非及直

至本公司已事先給予原告5個工

作 天 書 面 通 知 表 示 有 此 意 向）

後，法院於二零一六年十一月

二日頒令（其中包括）盡快擇日

審理此宗訴訟程序。

並無向本公司、本公司董事及

楊先生發出其他強制令。本公

司正就購股權法律程序徵詢法

律意見。

Kim Sungho首項法律程序

茲提述本公司日期為二零一六

年十一月二十八日的公佈。於

二零一六年十一月二十六日，

本公司接獲由Kim Sungho先生

（「Kim先生」）作為一項法律程序

（「Kim先生首項法律程序」）的原

告入稟法院對本公司及董事作

為被告發出的傳訊令狀（「Kim先

生首份傳訊令狀」）。

11. LEGAL PROCEEDING (Continued)

Share Options of the Company (the

「Share Options」) (Continued)

The Inter Parte Summons was heard on 1 and

2 November 2016. Upon the Company and

the Directors』 undertaking to (i) restrain from

recognizing, giving effect or otherwise taking

any step to implement the Purported Options

in relation to the exercise of any of the

200,000,000 share options out of Purported

Options, which was described by the

Company as having been accepted by the

grantee(s) and for which no share has been

issued and the exercise of any of the

200,000,000 share options out of the

Purported Options, which the Company

described as not having been accepted by the

grantee(s) and have lapsed; and (ii) restrain

from taking or procuring the taking, of any

steps to alter the issued share capital of the

Company unless and until the Company has

given the Plaintiffs 5 working days prior

written notice of their intention to do so, the

Court has, inter alia, ordered on 2 November

2016 that there be a speedy trial of this

proceedings on dates to be fixed.

No other injunction order was made against

the Company, the directors of the Company

and Mr. Yang. The Company is seeking legal

advice in respect of the Legal Proceedings of

the Share Options.

Kim Sungho’s first legal proceeding

Reference is made to the Company’s

announcement dated on 28 November 2016.

The Company has on 26 November 2016

received a writ of summons (「Mr. Kim’s First

Writ」) filed by Mr. Kim Sungho (「Mr. Kim」) as

the plaintiff against the Company and the

Directors as the defendants under a legal

proceeding in the Court (「Mr. Kim’s First Legal

Proceeding」).

11. 法律訴訟（續）

Kim Sungho首項法律程序

（續）

據Kim先 生 首 份 傳 訊 令 狀 大 致

上聲稱，Kim先生提出（其中包

括）宣判董事及本公司已觸犯證

券及期貨條例（「證券及期貨條

例」）第XV部第351條項下規定

董事、高級行政人員及主要股

東披露彼等於本公司股份及債

權證的權益的罪行。

Lim Hang Young首項法律

程序

茲提述本公司日期為二零一六

年十一月二十八日的公佈。於

二零一六年十一月二十六日，

本 公 司 接 獲 由 Lim Hang Young

先生（「Lim先生」）作為一項法律

程序（「Lim先生首項法律程序」）

的原告入稟法院對董事及本公

司 作 為 被 告 發 出 的 傳 訊 令 狀

（「Lim先生首份傳訊令狀」）。

據 Lim先生首份傳訊令狀大致上

聲稱，Lim先生提出（其中包括）

(i) 宣判董事及本公司已觸犯證

券及期貨條例第XV部第351條

項下罪行及違反披露權益規定；

及 (ii) 頒令本公司行使證券及期

貨條例第329條項下權力以調查

持有人於其股份及債權證的權

益。

11. LEGAL PROCEEDING (Continued)

Kim Sungho’s first legal proceeding

(Continued)

Pursuant to claims generally indorsed on Mr.

Kim’s First Writ, Mr. Kim claimed, inter alia, for

a declaration that the Directors and the

Company have committed offences under

section 351 of Part XV of Securities and

Futures Ordinance (「SFO」) which requires

directors, chief executives and substantial

shareholders to disclose their interest in the

shares and debentures of the Company.

Lim Hang Young’s first legal

proceeding

Reference is made to the Company’s

announcement dated on 28 November 2016.

The Company has on 26 November 2016

received a writ of summons (「Mr. Lim’s First

Writ」) filed by Mr. Lim Hang Young (「Mr. Lim」)

as the plaintiff against the Directors and the

Company as the defendants under a legal

proceeding in the Court (「Mr. Lim’s First Legal

Proceeding」).

Pursuant to claims generally indorsed on Mr.

Lim’s First writ, Mr. Lim claimed, among other

things, for (i) a declaration that the Directors

and the Company have committed offences

under section 351 of Part XV of SFO and for

violation of disclosure of interests rules; and

(ii) an order for the Company to exert its

power under section 329 of SFO to investigate

the holders of interests in its shares and

debentures.

11. 法律訴訟（續）

Joung Jong Hyun首項法律

程序

茲提述本公司日期為二零一六

年十一月二十八日的公佈。於

二零一六年十一月二十六日，

本公司接獲由 Joung Jong Hyun

（「Joung先生」）作為一項法律程

序（「Joung先生首項法律程序」）

的原告入稟法院對董事及本公

司 作 為 被 告 發 出 的 傳 訊 令 狀

（「Joung先生首份傳訊令狀」）。

據 Joung先生首份傳訊令狀大致

上聲稱，Joung先生要求（其中

包括）宣判董事及本公司已觸犯

有組織及嚴重罪行條例第25

(1) 條項下罪行。

Kim Sungho第二項法律程

序

茲提述本公司日期為二零一六

年十二月六日的公佈。於二零

一六年十二月五日，本公司接

獲 由Kim先 生 作 為 一 項 法 律 程

序（「Kim先生第二項法律程序」）

的原告於二零一六年十二月一

日入稟法院對董事、本公司及

本公司核數師德勤 . 關黃陳方

會計師行（「德勤」）作為被告發

出的傳訊令狀（「Kim先生第二份

傳訊令狀」）。

11. LEGAL PROCEEDING (Continued)

Joung Jong Hyun’s first legal

proceeding

Reference is made to the Company’s

announcement dated on 28 November 2016.

The Company has on 26 November 2016

received a writ of summons (「Mr. Joung’s First

Writ」) filed by Joung Jong Hyun (「Mr. Joung」)

as the plaintiff against the Directors and the

Company as the defendants under a legal

proceeding in the Court (「Mr. Joung’s First

Legal Proceeding」).

Based on the claims generally indorsed on Mr.

Joung’s First Writ, Mr. Joung requested,

among other things, for a declaration that the

Directors and the Company have committed

offences under section 25(1) of the Organized

and Serious Crime Ordinance.

Kim Sungho’s Second Legal

Proceedings

Reference is made to the Company’s

announcement dated on 6 December 2016.

The Company has on 5 December 2016

received a writ of summons (「Mr. Kim’s Second

Writ」) filed on 1 December 2016 by Mr. Kim as

the plaintiff against the Directors, the Company

and Deloitte Touche Tohmatsu, an auditor of

the Company (「Deloitte」) as the defendants

under a legal proceeding in the Court (「Mr.

Kim’s Second Legal Proceeding」).

11. 法律訴訟（續）

Kim Sungho第二項法律程

序（續）

據Kim先 生 第 二 份 傳 訊 令 狀 大

致上聲稱，Kim先生針對董事提

出 (i) 宣判董事串謀及引導本公

司及其附屬公司作出若干會計

違規行為；(ii) 頒令賠償本公司

的損失。Kim先生進一步針對德

勤提出 (i) 宣判鄺先生為本公司

所進行會計審閱出現疏忽；及(ii)

頒令賠償本公司的損失。於Kim

先生第二項法律程序中，本公

司遭勒令執行法院任何命令。

Kim Sungho第三項法律程

序

茲提述本公司日期為二零一六

年十二月六日的公佈。於二零

一六年十二月五日，本公司接

獲 由Kim先 生 作 為 另 一 項 法 律

程 序（「Kim先 生 第 三 項 法 律 程

序」）的原告於二零一六年十二

月二日入稟法院對案中被告 (i)

本 公 司 主 要 股 東Yang’s

Ho l d i n g s Ca p i t a l L imi t e d

（「Yang’s Holdings」）； 及 (ii) 本

公 司 發 出 的 另 一 份 傳 訊 令 狀

（「Kim先生第三份傳訊令狀」）。

據Kim先 生 第 三 份 傳 訊 令 狀 大

致上聲稱，Kim先生提出 (i) 宣判

Yang’s Holdings 實 益 持 有

及╱或控制本公司發行在外股

份逾30 %，須承擔提出強制性

全面收購建議的責任；及 (ii) 頒

令Yang’s Holdings 展開強制性

全面收購建議。

11. LEGAL PROCEEDING (Continued)

Kim Sungho’s Second Legal

Proceedings (Continued)

Pursuant to claims generally indorsed on Mr.

Kim’s Second Writ, Mr. Kim claimed against the

Directors for (i) a declaration that the Directors

conspired and directed various accounting

irregularities practices by the Company and its

subsidiaries; (ii) an order to pay compensation

to the Company for damages. Mr. Kim further

claimed against Deloitte for (i) a declaration

that Mr. Kwong conducted the negligent

accounting review for the Company; and (ii) an

order to pay compensation to the Company for

damages. The Company is enjoined in Mr.

Kim’s Second Legal Proceeding to execute any

orders by the Court.

Kim Sungho’s third legal proceeding

Reference is made to the Company’s

announcement dated on 6 December 2016.

The Company has on 5 December 2016

received another writ of summons (「Mr. Kim’s

Third Writ」) filed on 2 December 2016 by Mr.

Kim as the plaintiff against (i) Yang’s Holdings

Capital Limited, a substantial shareholder of

the Company (「Yang’s Holdings」); and (ii) the

Company as the defendants under another

legal proceeding in the Court (「Mr. Kim’s Third

Legal Proceeding」).

Pursuant to claims generally indorsed on Mr.

Kim’s Third Writ, Mr. Kim claimed for (i) a

declaration that Yang’s Holdings beneficially

holds and/or controls more than 30% of the

outstanding shares in the Company and is

subject to the mandatory general offer

obligation; and (ii) an order that Yang’s Holdings

launches obligatory mandatary general offer.

11. 法律訴訟（續）

Joung Jong Hyun第二項法

律程序

茲提述本公司日期為二零一六

年十二月六日的公佈。於二零

一六年十二月五日，本公司進

一步接獲由 Joung先生作為一項

法律程序（「Joung先生第二項法

律程序」）的原告於二零一六年

十二月三日入稟法院對董事、

本公司及Yang’s Holdings 作為

被告發出的傳訊令狀（「Joung先

生第二份傳訊令狀」）。

據 Joung先生第二份傳訊令狀大

致上聲稱，Joung先生提出（其

中包括）(i) 宣判董事、本公司及

Yang’s Holdings 串謀使用多層

營銷方法操縱股價，以及令本

公司獨立股東蒙受巨大損失；

及 (ii) 頒 令 董 事、 本 公 司 及

Yang’s Holdings 向本公司獨立

股東支付500,000,000港元。

Lee Moonkyu首 項 法 律 程

序

茲提述本公司日期為二零一六

年十二月十二日的公佈。於二

零一六年十二月八日，本公司

接 獲 由 Lee Moonkyu先 生 作 為

一項法律程序（「Lee先生首項法

律程序」）的原告入稟法院對董

事、 本 公 司 及Yang Sit Hang先

生作為被告所發出日期為二零

一六年十二月五日的傳訊令狀

（「Lee先生傳訊令狀」）。

11. LEGAL PROCEEDING (Continued)

Joung Jong Hyun’s Second Legal

Proceeding

Reference is made to the Company’s

announcement dated on 6 December 2016,

the Company has on 5 December 2016 further

received a writ of summons (「Mr. Joung’s

Second Writ」) filed on 3 December 2016 by Mr.

Joung as the plaintiff against the Directors, the

Company; and Yang’s Holdings as the

defendants under a legal proceeding in the

Court (「Mr. Joung’s Second Legal Proceeding」).

Based on claims generally indorsed on Mr.

Joung’s Second Writ, Mr. Joung claimed,

among other things, for (i) a declaration that

the Directors, the Company and Yang’s

Holdings have conspired for stock price

manipulation, using the multi-layer marketing

methods, and caused enormous loss to

independent shareholders of the Company;

and (ii) an order that the Directors, the

Company and Yang’s Holdings to pay

HK$500,000,000 to the independent

shareholders of the Company.

Lee Moonkyu’s first legal proceeding

Reference is made to the Company’s

announcement dated on 12 December 2016.

The Company has on 8 December 2016

received a writ of summons (「Mr. Lee’s Writ」)

dated 5 December 2016 filed by Mr. Lee

Moonkyu as the plaintiff against the Directors,

the Company and Mr. Yang Sit Hang as the

defendants under a legal proceeding in the

Court (「Mr. Lee’s First Legal Proceeding」).

11. 法律訴訟（續）

Lee Moonkyu首 項 法 律 程

序（續）

據 Lee先 生 傳 訊 令 狀 大 致 上 聲

稱，Lee先生提出（其中包括）(i)

宣 判 董 事、 本 公 司 及Yang Sit

Hang先生已觸犯有組織及嚴重

罪行條例第25(1) 條項下罪行；

及 (ii) 宣判董事、本公司及Yang

Sit Hang先生串謀使用多層營銷

方法操縱股價，以及令本公司

獨立股東蒙受巨大損失。

Lim Hang Young第二項法

律程序

茲提述本公司日期為二零一六

年十二月十三日的公佈。於二

零一六年十二月十二日，本公

司接獲由 Lim先生作為一項法律

程 序（「Lim先 生 第 二 項 法 律 程

序」）的原告入稟法院對董事、

本公司、本公司主要股東楊文

豪先生及本公司主要股東葛慶

福先生作為被告所發出日期為

二零一六年十二月六日的傳訊

令 狀（「Lim先 生 第 二 份 傳 訊 令

狀」）。

據 Lim先生第二份傳訊令狀大致

上聲稱，Lim先生提出（其中包

括）(i) 宣判董事、本公司、楊文

豪先生及葛慶福先生已觸犯證

券及期貨條例第XV部第351條

項下罪行及違反披露權益規定；

及 (ii) 宣判董事、本公司、楊文

豪先生及葛慶福先生參與多層

營銷計劃，以不當手法將本公

司股價推高至過去52週現水平

的85倍， 市 值 超 過200億 元，

惜股價其後回落至現水平。

11. LEGAL PROCEEDING (Continued)

Lee Moonkyu’s first legal proceeding

(Continued)

Pursuant to claims generally indorsed on Mr.

Lee’s Writ, Mr. Lee claimed, inter alia, for (i) a

declaration that the Directors, the Company

and Mr. Yang Sit Hang have committed

offences under Section 25(1) of the Organized

and Serious Crime Ordinance; and (ii) a

declaration that the Directors, the Company

and Mr. Yang Sit Hang have conspired for

stock price manipulation, using the multi-layer

marketing methods, and caused enormous

loss to independent shareholders of the

Company.

Lim Hang Young’s second legal

proceeding

Reference is made to the Company’s

announcement dated on 13 December 2016.

The Company has on 12 December 2016

received a writ of summons (the 「Lim’s

Second Writ」) dated 6 December 2016 filed by

Mr. Lim as the plaintiff against the Directors,

the Company, Mr. Yang Wan Ho (a substantial

shareholder of the Company) and Mr. Ge

Qingfu (a substantial shareholder of the

Company) as the defendants under a legal

proceeding in the Court (「Mr. Lim’s Second

Legal Proceeding」).

Pursuant to claims generally indorsed on the

Lim’s Second Writ, Mr. Lim claimed, inter alia,

for (i) a declaration that the Directors, the

Company, Mr. Yang Wan Ho and Mr. Ge

Qingfu have committed offences under Part

XV of Securities and Future Ordinance (Section

351) and for false disclosure of interest; and (ii)

a declaration that the Directors, the Company,

Mr. Yang Wan Ho and Mr. Ge Qingfu have

engaged in the multi-layer marketing scheme

to improperly boost the stock price of the

Company to 85 times the current level (in the

past 52 weeks), to market capitalization of

over $20 billion, only drop back to the current

level.

11. 法律訴訟（續）

Lim Hang Young第三項法

律程序

茲提述本公司日期為二零一六

年十二月二十三日的公佈。於

二零一六年十二月二十三日，

本公司接獲由 Lim先生作為一項

法律程序（「Lim先生第三項法律

程序」）的原告入稟法院對案中

被告 (i) 香港聯合交易所有限公

司（「聯交所」）；(ii) 禹銘投資管

理有限公司（「禹銘」）；及 (iii) 本

公司所發出日期為二零一六年

十二月十六日的傳訊令狀（「Lim

先生第三份傳訊令狀」）。

據 Lim先生第三份傳訊令狀大致

上聲稱，Lim先生尋求（其中包

括）(i) 宣判聯交所於全面要約期

間在審批股份認購事項上辦事

不力；(ii) 頒令聯交所撤銷所有

上市批准；(iii) 宣判禹銘蓄意誤

導本公司違反多項上市規則，

包括協助本公司的多層營銷計

劃；及 (iv) 頒令本公司申請自行

除牌。

11. LEGAL PROCEEDING (Continued)

Lim Hang Young’s third legal

proceeding

Reference is made to the Company’s

announcement dated on 23 December 2016.

The Company has on 23 December 2016

received a writ of summons (the 「Lim’s Third

Writ」) dated 16 December 2016 filed by Mr.

Lim as the plaintiff against (i) the Stock

Exchange of Hong Kong Limited (the 「Stock

Exchange」) ; ( i i ) Yu Ming Investment

Management Limited (「Yu Ming」); and (iii) the

Company as the defendants under a legal

proceeding in the Court (「Mr. Lim’s Third Legal

Proceeding」).

Pursuant to the claims generally indorsed on

the Lim’s Third Writ, Mr. Lim sought, inter alia,

for (i) a declaration against Stock Exchange that

the Stock Exchange has acted in bad faith in

the vetting of the share subscription during the

general offer period; (ii) an order against the

Stock Exchange to rescind all listing approvals;

(iii) a declaration against Yu Ming that Yu Ming

purposefully ill advised the Company to break

various Listing Rules, including assisting the

Company in its multi-layer marketing scheme;

and (iv) an order against the Company to apply

for self-delisting.

11. 法律訴訟（續）

Kim Sungho第四項法律程

序

茲提述本公司日期為二零一六

年十二月二十八日的公佈。於

二零一六年十二月二十八日，

本 公 司 接 獲 由Kim先 生 作 為 一

項法律程序（「Kim先生第四項法

律程序」）的原告入稟法院對案

中被告 (i) 本公司獨立董事委員

會之獨立財務顧問嘉林資本有

限公司（「嘉林資本」）；(ii) 本公

司非執行董事黃昭堡先生；(iii)

馬志明先生；(iv) 本公司獨立非

執行董事陳銘燊先生；及 (v) 本

公司（統稱「該等被告」）所發出

日期為二零一六年十二月二十

日的傳訊令狀（「Kim先生第四份

傳訊令狀」）。

據Kim先 生 第 四 份 傳 訊 令 狀 大

致上聲稱，Kim先生尋求（其中

包括）(i) 宣判該等被告合謀協助

本公司擁有人觸犯有組織及嚴

重 罪 行 條 例 第25(1) 條 項 下 罪

行，即彼等知道或有合理理由

相信，在各種重複的情況，以

及透過多數與本公司相關的複

雜「分層」工具，處理可公訴罪

行的得益；(ii) 頒令嘉林資本立

即辭任本公司獨立財務顧問。

11. LEGAL PROCEEDING (Continued)

Kim Sungho’s fourth legal proceeding

Reference is made to the Company’s

announcement dated on 28 December 2016.

The Company has on 28 December 2016

received a writ of summons (the 「Kim’s Fourth

Writ」) dated 20 December 2016 filed by Mr.

Kim as the plaintiff against (i) Gram Capital

Limited, an independent financial adviser to

the independent board committee of the

Company (「Gram Capital」); (ii) Mr. Wong Chiu

Po, a non-executive director of the Company;

(iii) Mr. Mai Chi Ming; (iv) Mr. Chan Ming Sun

Jonathan, an independent non-executive

director of the Company; and (v) the Company

as the defendants (collectively, the

「Defendants」) under a legal proceeding in the

Court (「Mr. Kim’s Fourth Legal Proceeding」).

Pursuant to the claims generally indorsed on

the Kim’s Fourth Writ, Mr. Kim sought inter

al ia, for ( i ) a declarat ion against the

Defendants that the Defendants have

conspired to assist the owners of the

Company to commit offences under Section

25(1) of the Organized and Serious Crime

Ordinance, i.e. they knew, or had reasonable

grounds to believe, that on multifarious and

respective occasions, and through complex

「layering」 vehicles mostly related to the

Company, were dealing with the proceeds of

an indictable offence; and (ii) an order against

Gram Capital that Gram Capital to immediately

resign as independent financial adviser to the

Company.

11. 法律訴訟（續）

Kim Sungho第五項法律程

序

茲提述本公司日期為二零一七

年 一 月 六 日 的 公 佈。 於 二 零

一七年一月六日，本公司接獲

由Kim先 生 作 為 一 項 法 律 程 序

（「Kim先生第五項法律程序」）的

原告入稟法院對案中被告 (i) 本

公司主要股東昌亮投資有限公

司（「昌亮」）；(ii) 富泰中順證券

期貨有限公司（「富泰」）；(iii) 禹

銘；及 (iv) 本公司所發出日期為

二零一七年一月三日的傳訊令

狀（「Kim先 生 第 五 份 傳 訊 令

狀」）。

據Kim先 生 第 五 份 傳 訊 令 狀 大

致上聲稱，原告尋求（其中包括）

(i) 針對昌亮的宣判，內容有關

昌亮及其一致行動人士因累計

擁 有 本 公 司 發 行 在 外 股 份 逾

30%而觸發強制性全面收購建

議；及 (ii) 針對富泰及禹銘的宣

判，內容有關富泰蓄意誤導本

公司違反多項上市規則，包括

協助本公司的多層營銷計劃。

Joung Jong Hyun第三項法

律程序

茲提述本公司日期為二零一七

年 二 月 三 日 的 公 佈。 於 二 零

一七年二月三日，本公司接獲

由 Joung先生作為一項法律程序

（「Joung先生第三項法律程序」）

的原告入稟法院對董事、本公

司及希仕廷律師行（「希仕廷」）

作 為 被 告 所 發 出 日 期 為 二 零

一 七 年 二 月 一 日 的 傳 訊 令 狀

（「Joung先生第三份傳訊令狀」）。

11. LEGAL PROCEEDING (Continued)

Kim Sungho’s fifth legal proceeding

Reference is made to the Company’s

announcement dated on 6 January 2017. The

Company has on 6 January 2017 received a

writ of summons (the 「Kim’s Fifth Writ」) dated

3 January 2017 filed by Mr. Kim as the plaintiff

against (i) Strong Light Investments Limited, a

substantial shareholder of the Company

(「Strong Light」); (ii) FP Sino-Rich Securities &

Futures Limited (「FP」); (iii) Yu Ming; and (iv)

the Company as the defendants under a legal

proceeding in the Court (「Mr. Kim’s Fifth Legal

Proceeding」).

Pursuant to the claim generally indorsed on

the Kim’s Fifth Writ, the Plaintiff sought, inter

alia, for (i) a declaration against Strong Light

that Strong Light and its parties acting in

concert has accumulated over 30% of the

outstanding shares in the Company, thus

triggering the mandatory general offer; and (ii)

a declaration against FP and Yu Ming that FP

purposefully ill advised the Company to break

various Listing Rules, including assisting the

Company in its multi-layer marketing scheme.

Joung Jon Hyun’s Third Legal

Proceeding

Reference is made to the Company’s

announcement dated on 3 February 2017. The

Company has on 3 February 2017 received a

write of summons (the 「Joung’s Third Writ」)

dated 1 February 2017 filed by Mr. Joung as

the plaintiff against the Directors, the

Company and Hastings & Co. (「Hastings」) as

the defendants under a legal proceeding in

the Court (「Mr. Joung’s Third Legal

Proceeding」).

11. 法律訴訟（續）

Joung Jong Hyun第三項法

律程序（續）

據 Joung先生第三份傳訊令狀大

致上聲稱，Joung先生尋求（其

中包括）(i) 宣判該等被告就律師

費從事及索求違法的「回佣」安

排；及 (ii) 頒令本公司及希仕廷

就涉嫌貪汙行為的相關人士進

行徹底調查。

本 公 司 將 對Kim先 生 首 項 法 律

程序、Lim先生首項法律程序、

Joung先生首項法律程序、Kim

先生第二項法律程序、Kim先生

第三項法律程序、Joung先生第

二項法律程序、Lee先生首項法

律程序、Lim先生第二項法律程

序、Lim先生第三項法律程序、

Kim先生第四項法律程序、Kim

先生第五項法律程序及 Joung先

生第三項法律程序提出抗辯，

現正就上述法律程序諮詢法律

意見。

Chi Dong Eun的 清 盤 呈 請

書

茲提述本公司日期為二零一七

年 一 月 六 日 的 公 佈。 於 二 零

一七年一月六日，本公司接獲

Chi Dong Eun（「呈請人」）針對 (i)

本公司；(ii) 董事；及 (iii) 楊先生

作為答辯人（統稱「該等答辯人」）

所發出日期為二零一七年一月

三日的呈請書（「呈請書」）。

11. LEGAL PROCEEDING (Continued)

Joung Jon Hyun’s Third Legal

Proceeding (Continued)

Pursuant to the claims generally indorsed on

Mr. Joung’s Third Writ, Mr. Joung sought, inter

alia, for (i) a declaration that the Defendants

have engaged in and solicited for illicit 「kickback」

arrangement on solicitor fees; and (ii)

and order that the Company and Hastings

engage in thorough investigations of related

personnel on alleged corruptive behaviour.

The Company will contest Mr. Kim’s First

Legal Proceeding, Mr. Lim’s First Legal

Proceeding, Mr. Joung’s First Legal

Proceeding, Mr. Kim’s Second Legal

Proceeding, Mr. Kim’s Third Legal Proceeding,

Mr. Joung’s Second Legal Proceeding, Mr.

Lee’s First Legal Proceeding, Mr. Lim’s Second

Legal Proceeding, Mr. Lim’s Third Legal

Proceeding, Mr. Kim’s Fourth Legal

Proceeding, Mr. Kim’s Fifth Legal Proceeding,

and Mr. Joung’s Third Legal Proceeding, and is

seeking legal advice in respect of the said

legal proceedings.

Chi Dong Eun’s Winding Up Petition

Reference is made to the Company’s

announcement dated on 6 January 2017. The

Company has also on 6 January 2017 received

a petition (the 「Petition」) dated 3 January 2017

filed by Chi Dong Eun (the 「Petitioner」) against

(i) the Company, (ii) the Directors and (iii) Mr.

Yang as the respondents (collectively, the

「Respondents」).

11. 法律訴訟（續）

Chi Dong Eun的 清 盤 呈 請

書（續）

呈請人聲稱（其中包括）(i) 該等

答辯人故意逃避《公司收購、合

併及股份回購守則》項下的強制

性全面收購建議的責任；(ii) 楊

先生在未作出適當及必要披露

的情況下大肆進行非法股份質

押借貸活動；(iii) 自本公司首次

公開發售起，本公司的會計業

績已經被篡改，不當地損害獨

立股東的權益並對其產生誤導；

(iv) 本公司已阻礙多名獨立股東

參與本公司若干股東特別大會

的表決；及 (v) 董事及楊先生已

觸犯有組織及嚴重罪行條例第

25(1) 條項下罪行，在此情況下

將本公司清盤屬公平、衡平及

合宜做法。呈請書排期於二零

一七年四月五日聆訊。

本公司已分別於二零一七年二

月十日及二零一七年二月十三

日就申請認可令及頒令刪除呈

請 書 提 交 兩 份 傳 票（「 該 等 傳

票」）。該等傳票的聆訊已訂於

二零一七年二月二十八日進行。

11. LEGAL PROCEEDING (Continued)

Chi Dong Eun’s Winding Up Petition

(Continued)

The Petitioner alleged, inter alia, that (i) the

Respondents have deliberately evaded the

mandatory general offer obligation of the

Codes on Takeovers and Mergers and Share

Buy-Back; (ii) Mr. Yang has engaged in

massive illegal share pledge borrowing

activities, without making proper and required

disclosures; (iii) from the initial public offering

of the Company, the accounting results of the

Company have been falsified, unfairly

prejudicial to independent shareholders to be

misled; (iv) the Company has physically

prevented several independent shareholders

from participating in the voting in some

extraordinary general meetings of the

Company; and (v) the Directors and Mr. Yang

have committed offences under section 25(1)

of the Organized and Serious Crime

Ordinance, which in the circumstances

renders it just, equitable and desirable to wind

up the Company. The hearing of Petition was

scheduled to be heard on 5 April 2017.

The Company have filed two summonses (the

「Summonses」) on 10 February 2017 and 13

February 2017 respectively to apply for the

Validation Order and for an order to strike out

the Petition. The hearing of the Summonses

have been fixed to be heard on 28 February

2017.

Management Discussion and Analysis

管理層討論及分析

34

第三季度業績報告 2016 . 樂亞國際控股有限公司

BUSINESS REVIEW

The Group principally derives its revenue from

manufacturing and selling pure cashmere apparel

and other apparel products under its two business

arms: (i) OEM business segment, which entails

product design and development, raw materials

sourcing and procurement, manufacturing and

product quality control management (the 「OEM

Business」) and (ii) apparel retail business segment,

which entails designing, procuring, manufacturing,

marketing and retailing of pure cashmere apparel

and other apparel products as well as accessories

through an established retail network in Hong Kong

under the Group’s proprietary trademarks,

「Casimira」 and 「Les Ailes」 (the 「Retail Business」).

Further to our disclosures earlier in the year on the

downward trend of our business, the performance of

our OEM Business continued to experience a decline

compared with the same period last year. Shopping

trends in the United States of America (「US」) have

begun to shift from major branded apparels to large

affordable fashion retailers, and spending patterns

have begun to shift towards a higher willingness to

spend on electronics products instead. As a result,

major apparel brands in the US are experiencing this

pressure, resulting in a wave of cost cutting, store

closures and clearance sales of their products this

year. This trend is particularly evident for mid-market

brands which find it difficult to charge excessive

premium for their products or lower their costs

sufficiently to compete with the larger fashion retailers.

Unfortunately, our products rely on the performance

of these mid-market retailers in the US and their poor

performance has negatively impacted us in this

quarter and is expected to continue throughout the

year. While we do not foresee the disappearance of

this market segment, we do expect reduced sales

from them, as well as higher demand from them for

cost control and lower priced products. Based on our

long term experience in this industry, we believe this is

part of the cyclical nature of the fashion industry. While

we have stepped up the efforts in controlling our

expenses, such as redundant excessive headcount,

we are also looking for innovative ways to weather this

downturn and at the same time look for opportunities

in any niche segments on which we could utilise our

know-how in cashmere garment manufacturing.

業務回顧

本集團的收入主要源自於其兩個業務

部門下製造及銷售純羊絨服裝及其他

服裝產品：(i) 原設備製造業務分部，

承擔產品設計及開發、原材料採購、

製造及產品質量控制管理（「原設備製

造業務」）；及 (ii) 服裝零售業務分部，

透過於香港的零售網絡以本集團的專

屬商標「Casimira」及「Les Ailes」承擔

設計、採購、製造、市場推廣及零售

純羊絨服裝以及其他服裝產品及配飾

（「零售業務」）。

繼我們於本年度較早時間披露業務走

勢下滑後，與去年同期相比，原設備

製造業務的表現持續下跌。美利堅合

眾國（「美國」）的購物趨勢已開始由各

大品牌服裝轉移至價格實惠的大型時

裝零售商，而消費模式亦開始轉移至

傾向電子產品消費。因此，美國各大

服裝品牌正面對此壓力，導致於本年

度紛紛削減成本、關閉店舖及清貨促

銷產品。此趨勢在「中檔」市場品牌尤

其顯著，原因為該等品牌難以就其產

品收取過高溢價或大幅降低其成本以

與更大型時裝零售商競爭。然而，我

們的產品依賴該等美國「中檔」市場

品牌零售商的表現，而零售商表現欠

佳已於本季度對我們構成負面影響，

並預期將持續至整個年度。儘管我們

並不認為該市場分部將會消失，但預

期該市場分部的銷售將會減少，且對

成本控制及低價產品的需求會更高。

基於我們在該行業的長期經驗，我們

相信此乃時裝業的週期性質。儘管我

們 已 加 大 力 度 控 制 開 支（ 如 裁 減 冗

員），亦尋求創新途徑安渡市場低潮，

同時於任何能將我們於羊絨成衣製造

方面的知識派上用場的特定市場分部

尋找機會。

Management Discussion and Analysis

管理層討論及分析

35

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

For the Retail Business, the revenue decline is mainly

attributable to the weak consumer market prolonged

by the sluggish economy, low level of consumer

sentiment and the rather unpleasant shopping

atmosphere in Hong Kong. These factors have caused

the number of mainland Chinese tourists in Hong Kong

to decline. Additionally, the warmest November month

ever recorded in Hong Kong last year, aggravated the

already weakened demand for its cashmere garments.

The Group has commenced the money lending

business in Hong Kong during the period. The Group

targets customers who look for substantial loan

amounts and can offer security for the relevant loans.

During the period, except for the commencement of

money lending business, the Group had no material

changes in its business nature and principal activities.

PROSPECTS

For the OEM Business, the downturn in the US retail

industry as previously disclosed was much more

severe than the management of the Company had

anticipated and some players in the US retail market

may even face liquidity challenge. Based on the

management’s past experience in previous downturn

cycles of this industry, it will be a prudent approach

not to accept any risk in the attempt to secure

business during such challenging times. Besides the

reduced sales orders from the major customers, the

Group is also facing ever-increasing production costs

in mainland China. Based on sales orders placed by

the OEM customers up to the date of this report, the

estimated revenue of OEM Business for the year

ended 31 March 2017 is expected to decline

significantly compared to last year. However, the

management of the Company will continue to look for

new customers to widen the customer base and

reallocate the production resources according to the

orders received so as to save costs. Although the

business environment is tough, the management of

the Company will try to maintain a stable volume of

business for the OEM Business segment and

concurrently ensure that the Company is not exposed

to unnecessary customer credit risks.

零售業務方面，收益下跌主要由於香

港經濟低迷、消費者消費意欲降低及

瀰漫較不愉快的購物氣氛導致消費市

場長時間疲弱，繼而令訪港內地旅客

數目下降。此外，去年香港錄得歷來

最溫暖的十一月，導致羊絨成衣需求

進一步下降。

本集團已於期內在香港開展放債業

務。本集團團針對尋求大額貸款並可

為相關貸款提供抵押的客戶。

期內，除開展放債業務外，本集團的

業務性質及主要活動並無重大變動。

前景

原設備製造業務方面，先前所披露美

國零售業倒退的情況遠較本公司管理

層預期嚴峻，部分美國零售業者甚至

可能面對流動資金困難。憑藉過去應

付業界週期性衰退的經驗，管理層認

為於艱巨時期不為爭取商機貿然冒險

屬審慎做法。除主要客戶減少銷售訂

單外，本集團亦面對中國內地生產成

本不斷上漲問題。基於截至本報告日

期原設備製造客戶下達的銷售訂單，

預期原設備製造業務於截至二零一七

年三月三十一日止年度的估計收益將

較去年大幅下跌。然而，本公司管理

層將繼續物色新客戶以擴大客戶基

礎，並將按照所接獲訂單重新分配生

產資源以節省成本。儘管營商環境嚴

峻，本公司管理層將致力令原設備製

造業務分部的業務量維持穩定，同時

確保本公司毋須承擔不必要的客戶信

貸風險。

For the Retail Business, the management of the

Company will closely monitor the consumers』

behaviour and will continue holding the promotion

campaigns. The management of the Company is

also monitoring the movements of the rental of

retail outlets and will adjust the expansion plan for

Retail Business if necessary. Despite the

uncertainties, the management of the Company still

remains positive towards the Retail Business as the

Company can still maintain a healthy profit margin

by selling its garments directly from the factory to

its customers.

Furthermore, the management of the Company is

also looking for new investment opportunities,

especially in retail markets in mainland China and

Hong Kong, in order to compensate the shrinking

retail market of cashmere garments in the US.

To diversify the Group’s business scope and

broaden the Group’s source of income, the Group is

now engaged in the money lending business in

Hong Kong. The Group targets customers who look

for substantial loan amounts and can offer security

for the relevant loans. The financial performance of

money lending business will review separately from

that of the other operating segments and its results

will be presented as a separate operating segment

and reportable segment. Looking forward, the Group

will from time to time aims to focus on money

lending business and seek the business

opportunities that can broaden the income base of

the Group and create the maximum returns to the

shareholder.

MATERIAL ACQUISITIONS, DISPOSALS

AND SIGNIFICANT INVESTMENT

i. On 22 April 2016, the Group entered into a

sales and purchase agreement with an

independent third party, pursuant to which

the Group conditionally agreed to purchase

55.56% of equity interests of Aji On Worldwide

Holdings Limited, which operates a high-end

fashion brand captivating audiences of highend

fashion retail industry in the PRC for a

cash consideration of HK$13,000,000. The

transaction was completed in May 2016.

零售業務方面，本公司管理層將密切

監 察 消 費 行 為，並 繼 續 籌 辦 推 廣 活

動。本公司管理層亦將監控零售店舖

的租金走勢，在有需要時調整零售業

務 的 擴 充 計 劃。儘 管 存 在 不 明 朗 因

素，惟本公司管理層對零售業務仍然

保持樂觀態度，原因為本公司可直接

從工廠取得成衣售予客戶，故仍能維

持穩健利潤率。

此外，本公司管理層亦不斷發掘新投

資機會，尤其著重中國內地及香港零

售市場，藉此彌補萎縮的美國羊絨服

裝零售市場。

為多元化發展本集團業務範圍及擴闊

本集團收入來源，本集團現於香港從

事放債業務。本集團針對尋求大額貸

款並可為相關貸款提供抵押的客戶。

放債業務的財務表現將與其他經營分

部分開審閱，而其業績將作為一個獨

立經營分部及可申報分部呈列。展望

未來，本集團將致力專注放債業務及

不時尋求可擴闊本集團收入基礎的業

務機會並為股東創造最大回報。

重大收購事項及出售事項以及

重大投資

I. 於二零一六年四月二十二日，

本集團與一名獨立第三方訂立

買賣協議，據此，本集團有條

件 同 意 以 現 金 代 價13,000,000

港 元 購 入Aji On Worldwide

Holdings Limited（該公司在中國

經營一個備受國內高檔時裝零

售 業 界 推 崇 的 時 裝 品 牌 ）的

55.56%股權。交易於二零一六

年五月完成。

ii. On 28 April 2016, the Group entered into a

sales and purchase agreement with New Star

International Development Limited, SOPD,

Incsight Limited, Zhu Jun, Lai Kwok Ho, Li Jia,

Chi Weina and Ji Wei (「Vendors」) and The9

Limited (「Guarantor」) pursuant to which the

Group conditionally agreed to purchase

47.63% of equity interests in Red 5 Studios,

Inc. (「Target Company」), a limited liability

company incorporated in Delaware, the

United States of America for a total of

consideration of US$76,500,000 (equivalent to

approximately HK$596,700,000). The Target

Company and its subsidiaries are principally

engaged in the development of innovative

entertainment software and online games in

the United States of America, Europe, the PRC

and Southeast Asia. The transaction was

completed in June 2016.

VOLUNTARY CONDITIONAL SHARE

OFFER

Voluntary Conditional Share Exchange

Offers (the 「Offers」)

On 7 October 2016, QPL International Holdings

Limited (「QPL」 or the 「Offeror」) proposed to the

Board that it would make the Offers to (i) acquire all

of the issued shares in the share capital of the

Company (other than those already owned by the

Offeror and parties acting in concert with it) (the

「Share Offer」); and (ii) cancel all of the outstanding

Options (the 「Option Offer」, together with the Share

Offer, the 「Offers」).

On 3 February 2017, being the extended closing

date of the Offers, QPL had (i) received valid

acceptances in respect of a total of 3,917,665,079

Shares (taking into account the acceptance in

respect of the Shares on the first closing date of the

Offerors) (the 「Acceptance Shares」) under the Share

Offer, which represented approximately 15.303% of

the total issued share capital and voting rights of the

Company as at the date of the announcement of

the Offeror dated 3 February 2017 in relation to the

extended closing date and further extension of the

Of f e r P e r i o d ( t h e 「 F u r t h e r E x t e n s i o n

Announcement」); and (ii) not received any

acceptance in respect of the Option Offer.

ii. 於二零一六年四月二十八日，

本集團與New Star International

Development Limited、 東 方 明

珠、Incsight Limited、朱駿、Lai

Kwok Ho、Li Jia、Chi Weina及 Ji

We（i 統稱「賣方」）及第九城市

（「擔保人」）訂立買賣協議，據

此，本公司有條件同意購入Red

5 Studios, Inc.（「目標公司」，於

美利堅合眾國德拉瓦州註冊成

立的有限公司）的47.63%股權，

總代價為76,500,000美元（相當

於約596,700,000港元）。目標公

司及其附屬公司主要於美利堅

合眾國、歐洲、中國及東南亞

從事創新娛樂軟體及網路遊戲

開發。交易於二零一六年六月

完成。

自願有條件股份交換要約

自 願 有 條 件 股 份 交 換 要 約（「 要

約」）

於 二 零 一 六 年 十 月 七 日，QPL

International Holdings Limited（「QPL」

或「要約人」）向董事會建議，表示其

可能作出要約，以 (i) 收購本公司股本

中全部已發行股份（要約人及其一致

行 動 人 士 已 擁 有 者 除 外 ）（「 股 份 要

約」）；及 (ii) 註銷全部尚未行使購股權

（「購股權要約」，連同股份要約統稱

為「該等要約」）。

於二零一七年二月三日（即該等要約

延長後的截止日期），QPL(i) 已接獲有

關股份要約項下合共3,917,665,079股

股份（已計及於要約人的首個截止日

期有關股份的接納）（「接納股份」）的

有效接納，相當於要約人日期為二零

一七年二月三日有關延長截止日期及

進一步延長要約期的公佈（「進一步延

長公佈」），本公司的全部已發行股本

及表決權約15.303%；及 (ii) 並無接獲

有關購股權要約的任何接納。

Taking into account the Acceptance Shares (subject

to the Offers become or are declared unconditional)

and the 13,800,000 Shares already owned by QPL

and parties acting in concert with it, QPL and parties

acting in concert with it are interested in an

aggregate of 3,931,465,079 Shares, representing

approximately 15.357% of the total issued share

capital and voting rights of the Company as at the

date of the Further Extension Announcement. The

closing time and date of the Offers made by QPL will

be further extended by QPL from 4:00 p.m. on 3

February 2017 to 4:00 p.m. on 14 February 2017.

Details of the Offers have been disclosed in (i) the

announcement of the Offeror dated 14 October

2016 in relation to, inter alia, the Offers; (ii) the

announcement of the Offeror dated 4 November

2016 in relation to, among other things, the delay in

despatch of the offer document in respect of the

Offers; (iii) the offer document issued by the Offeror

dated 16 December 2016 in relation to, inter alia,

the Offers; (iv) the announcement of the Offeror

dated 16 December 2016 in relation to the despatch

of the Offer Document; (v) the response document

dated 30 December 2016 in respect of the Offers

issued by the Company; (vi) the announcement of

the Offeror dated 11 January 2017; (vii) the

announcement of the Offeror dated 13 January 2017

in relation to the extended closing date and

extension of the Offer Period; and (viii) the Further

Extension Announcement.

經計及接納股份（須待該等要約成為

或宣佈為無條件後方可作實）以及QPL

及 其 一 致 行 動 人 士 已 擁 有 的

13,800,000股 股 份，QPL 及 其 一 致 行

動人士於合共3,931,465,079股股份中

擁有權益，相當於進一步延長公佈日

期本公司全部已發行股本及表決權約

15.357%。QPL 將其作出該等要約的截

止時間及日期由二零一七年二月三日

下午四時正進一步延長至二零一七年

二月十四日下午四時正。

該等要約的詳情已於 (i) 要約人日期為

二零一六年十月十四日有關（其中包

括）該等要約的公佈；(ii) 要約人日期

為二零一六年十一月四日有關（其中

包括）延期寄發有關該等要約的要約

文件的公佈；(iii) 要約人所刊發日期為

二零一六年十二月十六日有關（其中

包括）該等要約的要約文件；(iv) 要約

人日期為二零一六年十二月十六日有

關寄發要約文件的公佈；(v) 本公司就

該等要約所刊發日期為二零一六年

十二月三十日的回應文件；(iv) 要約人

日期為二零一七年一月十一日的公

佈；(vii) 要約人日期為二零一七年一

月十三日有關延長截止日期及延長要

約期的公佈；及 (viii) 進一步延長公佈

內披露。

FINANCIAL REVIEW

Revenue

The Group’s revenue dropped from approximately

HK$158.9 million for the nine months ended 31

December 2015 to approximately HK$52.6 million for

the nine months ended 31 December 2016,

representing a decrease of approximately 66.9%. The

revenue of OEM Business decreased by approximately

69.5% to approximately HK$44 million for the nine

months ended 31 December 2016 as compared to the

nine months ended 31 December 2015. On the other

hand, the revenue from Retail Business decreased by

approximately 67.7% to approximately HK$4.8 million

for the nine months ended 31 December 2016 as

compared to the nine months ended 31 December

2015.

The following table sets forth the breakdowns of the

revenue of the Group by segment for each of the nine

months ended 31 December 2016 and 2015.

Nine months ended

31 December

截至十二月三十一日止九個月

2016

2015

二零一六年

二零一五年

HK$』000

﹪

HK$』000

﹪

千港元

百份比

千港元

百份比

OEM Business

原設備製造業務

43,933

83.6

144,015

90.6

Retail Business

零售業務

4,808

9.1

14,894

9.4

Money Lending

Business

放債業務

3,820

7.3

–

–

52,561

100.0

158,909

100.0

財務回顧

收益

本集團的收益由截至二零一五年十二

月三十一日止九個月約158.9百萬港

元 下 跌 約66.9%至 截 至 二 零 一 六 年

十二月三十一日止九個月約52.6百萬

港元。截至二零一六年十二月三十一

日止九個月，原設備製造業務的收益

較截至二零一五年十二月三十一日止

九個月減少約69.5%至約44百萬港元。

另 一 方 面，截 至 二 零 一 六 年 十 二 月

三十一日止九個月，零售業務的收益

較截至二零一五年十二月三十一日止

九個月減少約67.7%至約4.8百萬港元。

下表載列本集團於截至二零一六年及

二零一五年十二月三十一日止九個月

各個期間按分部劃分的收益分析。

Cost of Sales and Gross Profit

The majority of the Group’s cost of sales was raw

material costs. The Group’s cost of sales dropped

by 53.7% to approximately HK$57.5 million for the

nine months ended 31 December 2016 as compared

to the nine months ended 31 December 2015. The

gross profit margin decreased from approximately

21.8% for the nine months ended 31 December

2015 to approximately -9.42% for the nine months

ended 31 December 2016. The gross profit dropped

by approximately -114.3% to approximately HK$-5.0

million for the nine months ended 31 December

2016 as compared to the nine months ended 31

December 2015. Such decrease in gross profit was

mainly attributable to, among other things, rising in

labour cost, reduce in selling price and quantity and

the continuing tough retail environment in the

United States of America, which resulted in

significant drop of sales order and increase in

overhead cost.

The Company also make provision for inventories of

approximately HK$7,441,000 for the nine months

ended 31 December 2016, which was mainly due to

certain type of raw materials becoming obsolete

over the years as per the internal aging policy of the

Company.

Expenses

Selling and administrative expenses for the nine

m o n t h s e n d e d 3 1 D e c e m b e r 2 0 1 6 was

approximately HK$90.6 million (nine months ended

31 December 2015: approximately HK$40.9 million),

representing an increase of approximately HK$49.7

million, as a result of approximately HK$37.0 million

share option expenses and approximately HK$10.1

million professional expenses incurred in relation to

legal proceedings and a voluntary conditional offer

by Favourite Number Limited, which was

subsequently withdrawn.

Loss for the period

The loss for the nine months ended 31 December

2016 was approximately HK$123.6 million. The loss

for the nine months ended 31 December 2015 was

approximately HK$4.1 million.

銷售成本及毛利

本集團的銷售成本大部分為原材料成

本。截至二零一六年十二月三十一日

止九個月，本集團的銷售成本較截至

二零一五年十二月三十一日止九個月

下跌53.7%至約57.5百萬港元。毛利

率由截至二零一五年十二月三十一日

止 九 個 月 約21.8%下 跌 至 截 至 二 零

一 六 年 十 二 月 三 十 一 日 止 九 個 月

約 -9.42%。 截 至 二 零 一 六 年 十 二 月

三十一日止九個月，毛利較截至二零

一五年十二月三十一日止九個月下跌

約-114.3%至約-5.0百萬港元。毛利減

少主要由於（其中包括）勞工成本上

升、售價及銷量下跌，以及美國零售

環境持續嚴峻，導致銷售訂單大幅減

少及間接成本增加。

截至二零一六年十二月三十一日止九

個 月，本 公 司 亦 就 存 貨 作 出 撥 備 約

7,441,000港元，主要由於根據本公司

的內部賬齡政策，若干類別原材料變

得過時陳舊。

開支

截至二零一六年十二月三十一日止九

個月，銷售及行政開支增加約49.7百

萬港元至約90.6百萬港元（截至二零

一五年十二月三十一日止九個月：約

40.9百萬港元），歸因於約37.0百萬港

元的購股權開支以及約10.1百萬港元

因 法 律 訴 訟 及 由Favourite Number

Limited提出自願有條件要約（其後已

撤回）產生的專業費用。

期內虧損

截至二零一六年十二月三十一日止九

個月錄得虧損約123.6百萬港元，而

截至二零一五年十二月三十一日止九

個月的虧損約為4.1百萬港元。

SHARE SUBDIVISION

On 6 June 2016, the Broad proposed to subdivide

every one (1) issued and unissued ordinary share of

HK$0.01 each in the share capital of the Company

into five (5) subdivided shares of HK$0.002 each,

such that the authorized share capital of the

Company is HK$100,000,000 di v ided into

50,000,000,000 shares with a par value of HK$0.002

each. The above share subdivision was approved by

the Company’s shareholders for the share

subdivision at the extraordinary general meeting on

22 June 2016 and became effective on 23 June 2016.

股份分拆

於 二 零 一 六 年 六 月 六 日，董 事 會 建

議 將 本 公 司 股 本 中 每 股 面 值 0.01 港

元的已發行及未發行普通股每一 (1)

股 分 拆 為 五 (5) 股 每 股 面 值 0.002

港 元 的 分 拆 股 份， 致 使 本 公 司 的

法定股本為 100,000,000 港元，分為

50,000,000,000 股 每 股 面 值 0.002 港

元 的 股 份。 上 述 股 份 分 拆 於 二 零

一六年六月二十二日獲本公司股東

於 股 東 特 別 大 會 上 批 準，並 於 二 零

一六年六月二十三日生效。

Other Information

其他資料

42

第三季度業績報告 2016 . 樂亞國際控股有限公司

董事及主要行政人員於本公司

或任何相聯法團的股份、相關

股份及債權證中的權益及淡倉

於二零一六年十二月三十一日，董事

及本公司主要行政人員於本公司及其

相聯法團（定義見證券及期貨條例（「證

券及期貨條例」）第XV部）的股份、相

關股份及債權證中擁有 (i) 根據證券及

期貨條例第XV部第7及8分部須知會

本公司及聯交所的權益及淡倉（包括

根據證券及期貨條例有關條文被當作

或視為擁有的權益及╱或淡倉），或(ii)

根據證券及期貨條例第352條須記入

本公司所存置登記冊的權益及淡倉，

或(iii)根據創業板上市規則第5.46條有

關上市發行人董事進行交易規定標準

而向本公司及聯交所作出另行通知的

權益及淡倉如下：

本公司普通股（「股份」）

DIRECTORS』 AND CHIEF EXECUTIVES』

INTERESTS AND SHORT POSITIONS IN

SHARES, UNDERLYING SHARES AND

DEBENTURES OF THE COMPANY OR

ANY ASSOCIATED CORPORATION

As at 31 December 2016, the interest and short

position of the Directors and chief executive of the

Company in the Shares, underlying shares and

debentures of the Company and its associated

corporations (within the meaning of Part XV of the

Securities and Futures Ordinance (「SFO」)), (i) as

required to be notified to the Company and the

Stock Exchange pursuant to Divisions 7 and 8 of

Part XV of the SFO (including interests and/or short

positions which they are taken or deemed to have

under such provisions of the SFO), or (ii) as required

to be recorded in the register maintained by the

Company pursuant to Section 352 of the SFO, or (iii)

as otherwise notified to the Company and the Stock

Exchange pursuant to the required standard of

dealings by directors of listed issuers as referred to

in Rule 5.46 of the GEM Listing Rules were as

follows:

Ordinary Shares of the Company (the

「Shares」)

Name of Director/

chief executive

Capacity/Nature of Interests

Number of

Underlying

Shares(1)

Percentage

of the

Company’s

issue share

capital as at

31 December

2016

董事╱主要行政人員姓名

身分╱權益性質

相關

股份數目(1)

於二零一六年

十二月三十一日

佔本公司已發行

股本百分比

Mr. Yang Si Hang(2)

楊詩恆先生(2)

Beneficiary of trust

信託受益人

10,000,000

0.04%

Other Information

其他資料

43

L & A INTERNATIONAL HOLDINGS LIMITED . THIRD QUARTERLY REPORT 2016

附註：

(1) 所示全部權益均為好倉。

(2) 由 楊 氏 家 族 信 託 全 資 擁 有 的 公 司

YWH Investment Holding Limited

（「YWH」）直 接 持 有Yang’s Holdings

Capital Limited（ 「Yang’s Holdings」）

全部已發行股本。楊氏家族信託為

楊文豪先生（作為委託人）成立的全

權信託，該信託的全權受益人包括

楊文豪先生、楊詩恆先生、楊詩敏

女士及楊詩傑先生。本公司首席執

行官楊詩恆先生（已於二零一六年十

月二十八日退任董事）為楊氏家族信

託的受益人之一。因此，彼被視為

於Yang’s Holdings 間 接 持 有 的

10,000,000股股份中擁有權益。

除 上 文 所 披 露 者 外，於 二 零 一 六 年

十二月三十一日，概無董事或本公司

主要行政人員於本公司或其任何相聯

法團（定義見證券及期貨條例第XV部）

任何股份、相關股份或債權證中擁有

(i) 根據證券及期貨條例第XV部第7及

8分部須知會本公司及聯交所的任何

權益或淡倉（包括根據證券及期貨條

例有關條文被當作或視為擁有的權益

及╱或淡倉），或 (ii) 根據證券及期貨

條例第352條須記入本公司所存置登

記冊的任何權益或淡倉，或 (iii) 根據創

業板上市規則第5.46條有關上市發行

人董事進行交易規定標準而向本公司

及聯交所作出另行通知的任何權益或

淡倉。

Notes:

(1) All interests stated are long positions.

(2) YWH Investment Holding Limited (「YWH」), a

company wholly owned by the Yang’s Family Trust,

directly holds the entire issued share capital of

Yang’s Holdings Capital Limited (「Yang’s Holdings」).

The Yang’s Family Trust is a discretionary trust

established by Mr. Yang Wan Ho (as the settlor) and

the discretionary beneficiaries of which include Mr.

Yang Wan Ho, Mr. Yang Si Hang, Ms. Yang Sze Man

Salina and Mr. Yang Si Kit Kenny. Mr. Yang Si Hang,

chief executive officer of the Company, who retired

as a Director on 28 October 2016, is one of the

beneficiaries of Yang’s Family Trust. He is therefore

deemed to be interested in the 10,000,000 Shares

indirectly held by Yang’s Holdings.

Save as disclosed above, as at 31 December 2016,

none of the Directors or chief executive of the

Company had any interests or short position in any

shares, underlying shares or debentures of the

Company or any of its associated corporations

(within the meaning of Part XV of the SFO (i) as

required to be notified to the Company and the

Stock Exchange pursuant to Divisions 7 and 8 of

Part XV of the SFO (including interests and/or short

positions which they are taken or deemed to have

under such provisions of the SFO), or (ii) as required

to be recorded in the register required to be kept by

the Company pursuant to Sections 352 of the SFO,

or (iii) as otherwise notified to the Company and the

Stock Exchange pursuant to the required standard

of dealings by directors of listed issuers as referred

to in Rule 5.46 of the GEM Listing Rules.

主要股東及其他人士於本公司

股份及相關股份中的權益及淡倉

於二零一六年十二月三十一日，以下

人士（董事或本公司主要行政人員除

外）於本公司股份及相關股份中擁有

根據證券及期貨條例第XV部第2及3

分部條文予以披露的權益或淡倉，或

擁有根據證券及期貨條例第336條須

存置登記冊所記錄的權益或淡倉如

下：

本公司普通股

附註：

(1) 所示全部權益均為好倉。

SUBSTANTIAL SHAREHOLDERS』 AND

OTHER PERSONS』 INTERESTS AND

SHORT POSITIONS IN THE SHARES

AND UNDERLYING SHARES OF THE

COMPANY

As at 31 December 2016, the following persons

(other than the Directors or chief executive of the

Company) had interests or short positions in the

shares and underlying shares of the Company which

would fall to be disclosed to the Company under the

provisions of Divisions 2 and 3 of Part XV of the SFO

or as required to be recorded in the register

required to be kept under 336 of the SFO:

Ordinary Shares of the Company

Name of Shareholder

Capacity/Nature of Interests

Number of

Underlying

Shares(1)

Percentage

of the

Company’s

issue share

capital as at

31 December

2016

股東姓名╱名稱

身分╱權益性質

相關股份

數目(1)

於二零一六年

十二月三十一日

佔本公司已發行

股本百分比

Lau Lan Ying

劉蘭英

Interest in a controlled

corporation

於受控法團的權益

6,446,296,000

25.18%

Wong Kwan Mo

黃君武

Interest in a controlled

corporation

於受控法團的權益

6,446,296,000

25.18%

Strong Light Investments

Limited

Beneficial owner

實益擁有人

5,993,880,000

23.41%

Ge Qingfu

葛慶福

Beneficial owner

實益擁有人

2,565,324,000

10.02%

Notes:

(1) All interests stated are long positions.

除 上 文 所 披 露 者 外，於 二 零 一 六 年

十二月三十一日，本公司並無得悉任

何人士（董事或本公司主要行政人員

除外）於本公司股份及相關股份中擁

有或視為擁有根據證券及期貨條例第

XV部第2及3分部條文予以披露的權

益或淡倉，或根據證券及期貨條例第

336條須存置登記冊所記錄的權益或

淡倉。

企業管治常規

截至二零一六年十二月三十一日止九

個月，本公司已遵守創業板上市規則

附錄15所載企業管治守則（「守則」）及

企業管治報告規定的守則條文，並無

出現偏離情況。

遵守董事進行證券交易規定標

準的情況

本集團已採納創業板上市規則第5.48

至第5.67條所載交易規定標準，作為

有關董事進行證券交易的行為守則。

經本集團作出特定查詢後，各董事確

認其已全面遵守交易規定標準，並於

截至二零一六年十二月三十一日止九

個月及直至本報告日期概無任何違規

情況。

購買、出售或贖回本公司上市

證券

截至二零一六年十二月三十一日止九

個月，本公司或其任何附屬公司概無

購買、出售或贖回本公司任何上市證

券。

Save as disclosed above, as at 31 December 2016,

the Company had not been notified by any person

(other than the Directors or the chief executive of

the Company) who had, or was deemed to have,

interests or short positions in the shares or

underlying shares of the Company which would fall

to be disclosed to the Company under provisions of

Divisions 2 and 3 of Part XV of the SFO or were

required to be recorded in the register required to

be kept by the Company under section 336 of the

SFO.

CORPORATE GOVERNANCE

PRACTICES

During the nine months ended 31 December 2016,

the Company had complied with the required code

provisions set out in the Corporate Governance

Code (the 「Code」) and Corporate Governance

Report as contained in Appendix 15 of the GEM

Listing Rules and there had been no deviation in

relation thereto.

COMPLIANCE WITH THE REQUIRED

STANDARD OF DEALINGS IN

SECURITIES TRANSACTIONS BY

DIRECTORS

The Group has adopted the required standards of

dealings set out in Rules 5.48 to 5.67 of the GEM

Listing Rules as the code of conduct regarding

Directors』 securities transactions in securities of the

Company. Upon the Group’s specific enquiry, each

Director confirmed that he/she had fully complied

with the required standard of dealings and there

had been no event of non-compliance during the

nine months ended 31 December 2016 and up to

the date of this report.

PURCHASE, SALE OR REDEMPTION OF

THE COMPANY』S LISTED SECURITIES

Neither the Company nor any of its subsidiaries had

purchased, sold or redeemed any of the Company’s

listed securities during the nine months ended 31

December 2016.

控股股東抵押股份

於二零一六年四月二十一日，Yang’s

Holdings Capital Limited向香港一名持

牌 放 債 人 簽 立 涉 及 本 公 司 股 本 中

840,000,000股股份（「抵押股份」）的股

份押記，作為Yang’s Holdings Capital

Limited所獲授定期貸款融資的抵押。

於二零一六年五月十一日，抵押股份

押遭強制沒收並轉讓予獨立第三方。

由 於 強 制 沒 收，Yang’s Holdings

Capital Limited於本公司之股權由佔本

公司已發行股本總額約51.02 %減至

約 30.02 %。Yang’s Holdings Capital

Limited不再為本公司直接控股公司。

因 此，Yang’s Holdings Capital

Limited的控股公司、在英屬處女群島

註 冊 成 立 的 私 人 有 限 公 司YWH

Investment Holding Limited及 控 制

YWH Investment Holding Limited的 楊

文豪先生於二零一六年五月十一日不

再為本公司最終控股股東。

競爭權益

董事確認，概無控股股東或董事及彼

等各自的緊密聯繫人士（定義見創業

板上市規則）於對本集團業務直接或

間接構成競爭或可能構成競爭的任何

業務（本集團經營的業務除外）中擁有

權益。

審核委員會

本公司已成立審核委員會，並已採納

符合創業板上市規則附錄15所載守則

的職權範圍。審核委員會的主要職責

為審閱本公司的財務報表及監督本公

司的內部監控程序。

PLEDGE OF SHARES BY CONTROLLING

SHAREHOLDER

On 21 April 2016, Yang’s Holdings Capital Limited

executed a share charge over 840,000,000 (the

「Share Charge」) in the share capital of the Company

in favour of a licensed money lender in Hong Kong

as security for a term loan facility granted to Yang’s

Holdings Capital Limited. On 11 May 2016, the Share

Charge has been enforced and transferred to

independent third party(ies). As a result of the

enforcement, the shareholding interest of Yang’s

Holdings Capital Limited in the Company was

reduced from approximately 51.02% to 30.02% of

the entire issue share capital of the Company.

Yang’s Holdings Capital Limited ceased to be the

Company’s immediate holding company.

Accordingly, the holding company of Yang’s

Holdings Capital Limited, YWH Investment Holding

Limited, a private limited company incorporated in

the British Virgin Islands and Mr. Yang Wan Ho who

controls YWH Investment Holding Limited, also

ceased to be the ultimate controlling shareholder of

the Company on 11 May 2016.

COMPETING INTERESTS

The Directors confirm that none of the controlling

shareholders or Directors and their respective close

associates (as defined in the GEM Listing Rules) is

interested in any business apart from the business

operated by the Group which competes or is likely

to compete, directly or indirectly, with the Group’s

business.

AUDIT COMMITTEE

The Company has established the Audit Committee

with terms in compliance with the Code as set out

in Appendix 15 to the GEM Listing Rules. The duties

of the Audit Committee are to primary review

financial statements of the Company and oversee

internal control procedures of the Company.

審核委員會包括三名獨立非執行董

事，即陳銘燊先生、馬志明先生及鄺

麟基先生。陳銘燊先生為審核委員會

主席。

審核委員會已審閱本集團採納的會計

原則及政策以及本集團截至二零一六

年十二月三十一日止九個月的未經審

核簡明綜合財務報表，並認為有關報

表乃遵照適用的會計準則及創業板上

市規則而編製，且已作出足夠披露。

合規顧問的權益

據本公司合規顧問天財資本國際有限

公司（前身為天財資本亞洲有限公司）

（「天財資本」）按照創業板上市規則第

6A.32條向本公司表示，於二零一六

年十二月三十一日，除天財資本就股

份上市擔任保薦人、其中一名聯席賬

簿管理人及其中一名聯席牽頭經辦人

以及本公司與天財資本所訂立日期為

二零一四年七月十七日的合規顧問協

議外，天財資本或其董事、僱員或緊

密聯繫人士（定義見創業板上市規則）

概無擁有本集團的任何權益。

承董事會命

樂亞國際控股有限公司

吳家豪

主席兼執行董事

香港，二零一七年二月十四日

於本報告日期，執行董事為吳家豪先

生；非執行董事為黃昭堡先生；以及

獨立非執行董事為陳銘燊先生、鄺麟

基先生及馬志明先生。

The Audit Committee consists of 3 independent

non-executive Directors, namely Mr. Chan Ming Sun

Jonathan, Mr. Ma Chi Ming and Mr. Kwong Lun Kei

Victor. Mr. Chan Ming Sun Jonathan is the chairman

of the Audit Committee.

The Audit Committee has reviewed the accounting

principles and policies adopted by the Group and

the unaudited condensed consolidated financial

statements of the Group for the nine months ended

31 December 2016 and is of the opinion that the

preparation of such statements complied with the

applicable accounting standards, GEM Listing Rules

and that adequate disclosures have been made.

Interest of the compliance adviser

As notified by the compliance adviser of the

Company, TC Capital International Limited (formerly

known as TC Capital Asia Limited) (「TC Capital」), to

the Company pursuant to rule 6A.32 of the GEM

Listing Rules, as at 31 December 2016, save for TC

Capital as the sponsor and one of the joint

bookrunners and one of the joint lead managers in

relation to the Listing of shares and the compliance

adviser agreement entered into between the

Company and TC Capital dated 17 July 2014, neither

TC Capital or its directors, employees or close

associates (as defined in GEM Listing Rules) had any

interest in the Group.

By Order of the Board

L & A INTERNATIONAL HOLDINGS LIMITED

Ng Ka Ho

Chairman and Executive Director

Hong Kong, 14 February 2017

As at the date of this report, the executive Director

is Mr. Ng Ka Ho; the non-executive Director is Mr.

Wong Chiu Po; the independent non-executive

Directors are Mr. Chan Ming Sun Jonathan, Mr.

Kwong Lun Kei Victor and Mr. Ma Chi Ming.

　 中財網