SOURCE: China Enterprises Limited

May 16, 2016 16:37 ET

China Enterprises Limited Press Release

HONG KONG, CHINA--(Marketwired - May 16, 2016) - China Enterprises Limited (OTC PINK: CSHEF)

The Board of Directors of the Company announced the following financial information for the year ended December 31, 2015: -

CONSOLIDATED RESULTS FOR THE YEAR ENDED DECEMBER 31, 2015

Financial Highlights

  Year ended
December 31, 2015
  Year ended
December 31, 2014
 Revenue Nil   Nil
 Operating loss Rmb(2.8M)   Rmb(2.1M)
 Profit (Loss) before income tax Rmb4.1M   Rmb(2.5M)
 Net income (loss) Rmb4.1M   Rmb(2.5M)
 Earnings (Loss) per common share Rmb0.45   Rmb(0.28)

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 Rmb2.8 million loss from operating activities represented the general and administrative expenses incurred for the year ended December 31, 2015. 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 2014 were Rmb2.1 million.

Apart from the general and administrative expenses of Rmb2.8 million, components of net income of Rmb4.1 million for the year ended December 31, 2015 were interest income of Rmb0.1 million, unrealized gain recognized on trading securities of Rmb10.0 million, offset by interest expense of Rmb0.6 million, net realized loss recognized on disposal of securities of Rmb0.4 million and an exchange loss of Rmb2.2 million.

The Company presently anticipates that it will hold its forthcoming Annual General Meeting in Hong Kong as soon as practicable in 2016.

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