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GREEN INTERNATIONAL HOLDINGS LIMITED 格 林 國 際 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 2700)
EXPECTED SUBSTANTIAL DECREASE IN LOSS
The board (the ''Board'') of directors (the ''Directors'') of Green International Holdings Limited (the ''Company'', which together with its subsidiaries are collectively referred to as the ''Group'') wishes to inform the shareholders of the Company (the ''Shareholders'') and potential investors that, based on the information currently available, the Group expects to record a decrease of approximately 60% in its net loss attributable to the Shareholders for the year ended 31 December 2020 (''FY2020'') as compared to the year ended 31 December 2019 (''FY2019''). The decrease in its net loss attributable to the Shareholders was mainly because of, among other things, (i) the decrease in selling expenses and administrative expenses due to the successful implementation of cost-control measures; (ii) the decrease in finance costs due to the maturity and conversion of convertible bonds in FY2020; and (iii) the decrease in impairment loss of trademark user right and technical know-how and goodwill in FY2020 as compared to FY2019.
The information contained in this announcement is only based on a preliminary assessment by the Board of the information currently available to it, including the latest unaudited consolidated management accounts of the Group and the preliminary assessment of valuations of cash-generating units of the Group which are still subject to finalisation and have not been reviewed by the Company's auditor. Details of the performance of the Group for FY2020 will be disclosed in the consolidated final results announcement of the Company, which is expected to be published on 31 March 2021.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
By order of the Board
Green International Holdings Limited
Hong Kong, 17 March 2021
As at the date of this announcement, the executive Directors are Mr. Yu Qigang (Chairman), Mr. Liu Dong and Mr. Yu Xiangjin; the non-executive Directors are Mr. Chen Hanhong and Mr. Yu Zhoujie; and the independent non-executive Directors are Mr. Wu Hong, Mr. David Tsoi and Mr. Wang Chunlin.
Green International Holdings Limited published this content on 17 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 10:41:03 UTC.