SOURCE: China Enterprises Limited

October 28, 2015 16:18 ET

China Enterprises Limited Announces Consolidated Results for the Year Ended December 31, 2014

HONG KONG, CHINA--(Marketwired - Oct 28, 2015) - China Enterprises Limited (OTC PINK: CSHEF)

The Board of Directors of the Company announced the following financial information for the year ended December 31, 2014:

CONSOLIDATED RESULTS FOR THE YEAR ENDED DECEMBER 31, 2014

 
Financial Highlights
    (Unaudited)
Year ended
December 31, 2014
  (Audited)
Year ended
December 31, 2013
Revenue   Nil   Nil
Operating loss   Rmb(2.1M)   Rmb(1.8M)
(Loss) profit before income tax   Rmb(2.5M)   Rmb9.9M
Net (loss) income   Rmb(2.5M)   Rmb9.9M
(Loss) earnings per common share   Rmb(0.28)   Rmb1.10
         

The Company does not have an operating subsidiary up to the date of this press release, and the Company is actively seeking new opportunities with respect to its business.

Operating loss increased to Rmb2.1 million in 2014 compared to Rmb1.8 million for the fiscal 2013. The Rmb2.1 million on operating loss mainly represented administrative expenses incurred for the year ended December 31, 2014.

Loss before income tax for the year ended December 31, 2014 increased to Rmb2.5 million compared to profit of Rmb9.9 million in 2013. The net loss for the fiscal year 2014 consisted mainly of dividend income of Rmb3.9 million, interest income of Rmb0.1 million, realized gain recognized on disposal of securities amounted to Rmb0.9 million, interest expense of Rmb0.6 million, unrealized loss recognized on trading securities amounted to Rmb4.0 million, administrative charges of Rmb2.1 million and exchange loss of Rmb0.7 million.

The Annual General Meeting for the Company will be held in Hong Kong on December 22, 2015. Based on the record date of October 30, 2015, the Company will dispatch a notice of the meeting and a proxy statement to shareholders in due course.

Contact Information

  • For more information, please contact:

    Hong Kong
    China Enterprises Limited
    Tel: (852) 3151 0300
    Fax: (852) 2542 0298

    New York
    Pristine Advisers LLC
    Tel: (631) 756-2486
    Fax: (646) 478-9415