SOURCE: China Enterprises Limited

April 28, 2017 16:11 ET

China Enterprises Limited Press Release

HONG KONG, CHINA--(Marketwired - Apr 28, 2017) -  China Enterprises Limited (OTC PINK: CSHEF) -- The Board of Directors of the Company announced the following financial information for the year ended December 31, 2016: -

UNAUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED DECEMBER 31, 2016

Financial Highlights

  Year ended
December 31, 2016
Year ended
December 31, 2015
  Revenue   Nil   Nil
  Operating loss          Rmb(2.7M)          Rmb(2.8M)
  Profit before income tax       Rmb0.6M       Rmb4.1M
  Net income        Rmb0.6M        Rmb4.1M
  Earnings per common share        Rmb0.07        Rmb0.45

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.

The Rmb2.7 million loss from operating activities represented the general and administrative expenses incurred for the year ended December 31, 2016. General and administrative expenses were comprised of expenditures for personnel and administrative functions, including accounting, information technology, human resources, legal and administration. The general and administrative expenses in 2015 were Rmb2.8 million.

Apart from the general and administrative expenses of Rmb2.7 million, components of net income of Rmb0.6 million for the year ended December 31, 2016 were interest income of Rmb2.6 million, unrealized gain recognized on trading securities of Rmb2.4 million, exchange gain of Rmb0.2 million, offset by interest expense of Rmb0.6 million, net realized loss recognized on investments of Rmb1.3 million.

The Company presently anticipates that it will hold its forthcoming Annual General Meeting in Hong Kong as soon as practicable in 2017.

Contact Information

  • For more information, please contact:

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

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