(Stock Code: 8081)
Interactive Entertainment China Cultural Technology Investments Limited
2015 Annual Result Turned Around from Loss into Profit
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Expanding the Focus to Mobile Internet Cultural Lifestyle Related Business
(Hong Kong, 23 March 2016) -Interactive Entertainment China Cultural Technology Investments Limited ("IE CHINA" or "the Group", SEHK: 8081) today announced its audited consolidated results for the year ended 31 December 2015. During the year, the Group recorded a revenue (including continuing and discontinued operations) of approximately HK$634,011,000 (2014: HK$ 236,970,000), representing a surge of 168% as compared to the corresponding period in 2014. The net profit attributable to the shareholders of the company (including continuing and discontinued operations) was approximately HK$63,951,000 (2014: loss of HK$26,189,000).
The turnaround results was mainly attributable to the increase in share of profits of Mighty Eight Investments Limited, the increase in net profit recorded by the group's health check business and the provision of integrated digital marketing services (regarded as a discontinued operation during the year), the gain on bargain purchase of approximately HK$32,783,000 for the acquisition of the entire issued share capital of EPRO (BVI) Limited ("EPRO BVI"), as well as the gain on financial assets at fair value through profit of approximately HK$50,821,000, and the decrease in fair value loss on available-for-sale investments of approximately HK$4,066,000 (2014: HK$23,120,000)
The Board proposed a 2015 final dividend (2014: Nil) by the way of bonus issue of shares on the basis of two new Shares for every ten existing Shares. The Bonus Shares will be credited as fully paid by way of capitalisation of an amount standing to the credit of the contributed surplus account of the Company.
To develop in line with the trend of "mobile internet+", the Group has gradually expanded its focus from mobile-online games to encompass industries in the areas of cultural lifestyle of mobile internet, including mobile-online children education, mobile games, O2O interactive entertainment and other related business, and has taken the mobile internet as part of its business development strategy. One of the Group's current focus areas is developing and building an online children education platform. The mobile application "I Am Little Chinese Hand", which was under the joint development with Shanghai Saiguo Cultural Media Limited, has already been launched on the web, mobile system "Android" and "iOS" platform from May to July last year. A new application "十萬零一個為什麼" (One Hundred Thousand and One Questions) was under development by the Group during the year. With the positive market feedback, it is expected to generate decent revenue for the group in the future.
Mr. Zhang Peiao, Executive Director and the Chief Executive Officer of IE CHINA, stated, "Internet cultural business is a popular and booming industry. Business related to internet lifestyle will gradually interweave into daily life of ordinary people. The Group is catering for the diverse preferences of pan-entertainment and the trend of mobile internet+ industry, and we are set in motion for the rapid development with present achievement to be satisfied. In the future, the Group will stay focus on the development of online education platform and also source other business opportunities for diversifying the business portfolios with the aim to create better returns for the investors."
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About Interactive Entertainment China Cultural Technology Investments Limited (SEHK:8081)
Interactive Entertainment China Cultural Technology Investments Limited has been listed on the GEM Board of Hong Kong Stock Exchange since June 2000. The Group is principally engaged in (i) mobile internet cultural business and provision of IT services; (ii) provision of medical diagnostic and health check services; (iii) provision of hospitality and related services in Australia; (iv) money lending business; and (v) assets investments business.
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