Author: Asia PEVC

The board of directors of Litian Pictures Holdings Limited (the “Company”, Stock Code:9958.HK) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively, the “Group”) for the six months ended 30 June 2020 (the “Period”).

Financial Highlights
The Interim results or the six months ended June 30, 2020:
– Revenue of the Group amounted to RMB256.7million, representing an increase of 29.7% as compared with the same period of last year;
– Gross profit amounted to RMB87.6 million, representing an increase of 27.7% as compared with the same period of last year;
– Profit attributable to equity shareholders of the Company amounted to RMB54.3 million, representing an increase of 18.9% as compared with the same period of last year;
– Basic and diluted earnings per share of the Group amounted to RMB0.24, representing an increase of 20.0% as compared with the same period of last year.

For the six months ended 30 June 2020, the Group’s revenue amounted to RMB256.7million, representing an increase of 29.7% as compared with the same period of last year. The increase was mainly due to an increase of RMB126.0 million in revenue from the licensing of the broadcasting rights of outright-purchased drama series.

The business of outright-purchased drama series has strong growth trend, revenue representing a significant increase of 98.7%

The Group is primarily engaged in the business of licensing the broadcasting rights of self-produced and outright-purchased drama series. During the period, The Group shifted to focus on expanding their business of licensing the broadcasting rights of outright-purchased drama series to cater to the timing and content preferences of their customers.

During the period, The Group’s revenue generated form the licensing of the broadcasting rights of outright-purchased drama series was RMB253.7 million, representing a significant increase of 98.7% year on year. Primarily due to an increase of RMB88.9 million in revenue generated from first-run broadcast on satellite TV channels as a result of the licensing of the first-run broadcasting rights of “Waiting for You in Beijing” and “Skate into Love” during the first half of 2020; and an increase of RMB36.9 million in revenue generated from rerun broadcast on satellite TV channels, which was attributable to the licensing of the rerun broadcasting rights of “I Will Find You a Better Home”.

Self-produced drama series business is steadily promoting, profit margin was higher than a year earlier

During the period, revenue generated from our customers that are TV channels accounted for approximately 100.0% of our revenue generated from licensing the broadcasting rights of self-produced drama series. And 89.9% was generated from rerun broadcast on satellite TV channels, 9.6% was generated from broadcast on terrestrial TV channels and 0.5% was from third-party clients.

Profit margin of licensing the broadcasting rights of self-produced drama series was approximately 31.5% and 74.2%, respectively, for the six months ended 30 June 2019 and 2020. The Group’s gross profit margin of licensing the broadcasting rights of self-produced drama series for the six months ended 30 June 2020 was higher than that for the corresponding period in 2019. primarily because we licensed the rerun broadcasting rights of our self-produced drama series, “A Gallant Army”, to China Central Television in the first half of 2020, which had a higher gross profit margin; and the costs of sales in connection with the licensing of the rerun broadcasting rights of “Guerrilla Heroes” and “A Gallant Army” had been fully accounted for by the end of 2019.

Sufficient reserve of drama series, the Group is confident in the future business growth

The Group currently plan to begin filming a drama series named “Unparalleled at Thirty” in November 2020, and two other drama series, namely, “Please Eat with Lonely Me” and “Starting Line” in the first half of 2021. If the COVID-19 pandemic continues to spread in the second half of 2020 or the PRC government authorities prohibit us from filming their self-produced drama series to avoid new waves of infection, the Group have business contingency plans in place.

The Group have eight self-produced drama series, including seven TV series and one web series, which had completed production and are ready to be licensed to their customers. The Group will focus on expanding their business of licensing the broadcasting rights of outright-purchased drama series to offset the impact of the COVID-19 pandemic on the business of their self-produced drama series.

The management is confident in the future growth of our business. Even if in the face of uncertainties brought about by the COVID-19 pandemic to the industry and the overall business environment, the Group will be dedicated to implementing the business strategies as set out in the Prospectus.

About Litian Pictures Holdings Limited
Litian Pictures Holdings Limited is a drama series distribution company in the PRC. The Group was established in 2013, and is primarily engaged in the business of licensing the broadcasting rights of self-produced and outright-purchased drama series. In addition, they are engaged in [(i) investing in, and licensing the broadcasting rights of, drama series in which the Group act as non-executive producer under the co-financing arrangements; and (ii)] acting as a distribution agent of the broadcasting rights of TV series. On 22 June 2020, the Shares of the Company were successfully listed on the Main Board of the Stock Exchange.

Core Business Model Drives Strong Revenue and Profit Growth

JS Global Lifestyle Company Limited (“JS Global Lifestyle” or the “Company”, together with its subsidiaries, the “Group”) announces the unaudited interim results for the six months ended June 30,2020 (the “Reporting Period”). During the six months ended June 30, the total revenue of the Group was US$1514.7 million, representing a year-on-year increase of 22.6%. The Group has overcome the difficulties and obstacles brought by the pandemic to the global economic market with its well-organized management skills and implementation capabilities. At the same time, we achieved robust organic growth in North America, Europe, China and other markets relying on our strong R&D capabilities, product strength and brand power.

Financial Highlights
– Total revenue of the Group was US$1,514.7 million, representing a year-on-year increase of 22.6%;
– Gross profit was US$661.8million, a year-on-year increase of 43.2%;
– Adjusted profit attributed to owners of the parent for the six months ended June 30,2020, increasing by 230.4% year-on-year to approximately US$108.7million;

During the reporting period, the Group operates two major business segments, the SharkNinja segment and the Joyoung segment.

The SharkNinja segment focuses on household environmental appliances and kitchen appliances which are available in North America, Europe, Japan and various other countries throughout the world. This segment continued to launch new products in the second half of 2019 and the first half of 2020, and continued to upgrade existing products, which facilitated growth across all major categories. In the United States, it has benefited from the fact of consumers staying at home, the successful launch of new heating appliances (2-Basket Air Fryer, and 8-in-1 Air Oven) and the steady growth of clean appliances. At the same time, a series of new products were recently launched in the North American market in the first half of the year, such as VACMOP and steam mop, which were well received by the market. Meanwhile, the robot vacuum launched in the second half of 2019 continued to be widely favored by consumers and kept gaining market share. In Europe, the Company’s Shark brand ranks first in the market share of upright vacuum cleaners in the UK. Ninja also launched various new products in the first half of the year following their launch in the North American market.

The Group has continued to expand its business scale across European markets along with the continual cultivation in American and British markets. For example, the gradual diffusion in German and French market, with initiation in Germany at the first half of 2020, and expected to successfully launch in France by the second half of 2020.

As of June 30, 2020 SharkNinja segment recorded approximately US$ 890.3 million of revenue, up 34.2% year-on-year, accounting for approximately 58.8% of the total revenue of the Group. Revenue from the Joyoung segment amounted to US$624.4 million, increased approximately 9.1% year-on-year and accounting for approximately 41.2% of the total revenue of the Group.

The Joyoung segment continues to offer small household appliances, focusing on kitchen appliances and cleaning appliances. In China, Joyoung brand ranks No.1 in market share in multiple innovative categories.

In the second quarter of 2020, while the impact of the epidemic in China gradually alleviated, the Company’s operations returned to normal. Due to the changes in consumption patterns, offline consumers continue to switch to online. The Company launched new products and online marketing ahead of the industry to cater to consumers’ needs and successfully offset the adverse effects of offline business due to the epidemic.

In the first half of the year, Joyoung segment launched products including S160 steam rice cooker with glass linerand K150 disposable broken wall soybean milk machine, which were well received by the market. In the meantime, the Joyoung segment further expanded its selection of intellectual property (the “IPs”) crossover products and cooperated with adorable and trendy IPs including Line Friends and Pikachu in the first half of the year, thus further improving its brand awareness among young consumers. The Shark brand also launched more localized and light weighted products in China tailored for Chinese consumers’ demands for lightweight, compact household appliances.

Going forward, the Company is committed to driving sustainable long-term growth through the development and commercialization of innovative products with strong technology and design sensibilities, as well as through sales network and product category expansion. At the same time, the Company will maximize the synergies between the Joyoung and SharkNinja segments, strengthen the Group’s brand awareness and the level of consumer interaction, seek strategic partnerships and acquisitions to achieve strategic and sustainable long-term growth, and thus enhance the Group’s market position as a leading global small household appliance company.

Good Production Rate, Iron Ore Price and FX Rate
Maiden Underlying Profit of C.US$6 Million

The largest iron ore mining operator in the Russian Far East, IRC Limited (“IRC” or the “Company”, together with its subsidiaries, collectively “the Group”; stock code: 1029) is pleased to announce its interim results for the six months ended 30 June 2020.

Financial Highlights
– Revenue increased by 19% to US$106.2 million (30 June 2019: US$89.2 million)
– Cash cost down by 4.7% to US$48.8/t (30 June 2019: US$51.2/t)
– EBITDA has more than doubled, increasing to US$33.2 million (30 June 2019: US$13.2 million)
– Profit of US$5.9 million (30 June 2019: loss of US$25.2 million)

Operation Highlights
– 14.3% and 11.4% improvement in production and sales respectively over the same period in 2019
– Stable production capacity of 89% (30 June 2019: 78%)
– K&S operated at more than 90% capacity in July and the early part of August. Planned ball mill maintenance and a period of heavy rains affected production in August. Normal production has now been resumed, month-to-date capacity of c.80%.
– Impact of COVID-19 not as yet significant

Commenting on the results, Peter Hambro, Chairman of IRC said: “The first half of 2020 has been a significant time for the development of IRC with the Company achieving its maiden underlying profit. While the profit is modest, the milestone is significant. We are unlocking the great potential that we see in the Company. While K&S is currently operating at close to its full capacity, IRC has the track record of running a mine at higher than its designed capacity. We see K&S having the ability to do the same, and look forward to seeing the mine coming-of-age to unleash its full potential.

Good production rate, strong iron ore price and weak Russian Rouble contributed to IRC’s profitability. Despite the devastating effect of the COVID-19 on the global economy, iron ore was one of the best performing commodities in the first half of 2020. Coupled with K&S’s good production rate, IRC’s revenue recorded a significant increase in the first half of this year. We also benefitted from the weak Russian Rouble, allowing the Group to lower its cost level. These positive factors contributed to our maiden underlying profit.

We are pleased with the financial results of IRC in the first half of 2020 and are striving for further improvements as K&S continues to raise its production level. We are pleased that much has been achieved in the first half of 2020. That said, continuous improvement is our goal and we are not resting on our laurels. We believe that the foundations of our Company are in place for further enhancement in operational and financial performance. Looking to the future, we are committed to ensuring that IRC continues to prosper and grow in a sustainable manner. We shall increase our production from our world-class assets to maximise shareholders’ value. We would like to thank our stakeholders for their continued support.”

For more details of the Group’s interim results, please refer to full announcement at: https://files.services/files/370/2020/0826/20200826061501_65488741_en.pdf

About IRC Limited
IRC Limited (1029.HK) is the largest iron ore mining operator in the Russian Far East. Its operations focus on producing high-quality iron ore concentrates, with long-term relationships with customers in China and Russia. IRC is unique in the iron ore market due to its competitive advantages, namely superior geology and direct access to China, the world’s largest iron ore market, through established world-class infrastructure.

For more information, please visit: http://www.ircgroup.com.hk/

Media enquiries:
Anli Financial Communications Limited
Kylie Chan 852-3956 1640 kylie.chan@anli.com.hk
Doris Ho 852-3956 1641 doris.ho@anli.com.hk

“Construction first and property development to follow”, fully utilise the synergies between property development and construction contracting

A renowned property developer and construction company based in Zhuozhou, a city in Hebei Province, China – China Tianbao Group Development Company Limited (“Tianbao Group” or the “Company”, together with its subsidiaries, the “Group”, stock code: 1427.HK), today announced its interim results for the six ended 30 June 2020 (“the Reporting Period”).

In the Reporting Period, the performance of the Tianbao Group increased rapidly, with total revenue increasing by 101.8% to RMB 1,340.3 million, gross profit rose by 88% to RMB 297.9 million, and gross profit margin slightly decline to 22.2% (1H2019:23.9%). Profit for the period rose 127.1% to RMB128.3 million and net profit margin was 9.6% (1H2019:8.5%). The net gearing ratio was 18.4% for the six ended 30 June 2020, basic and diluted earnings per share were RMB 0.16. The Board declared an interim dividend of HK$ 0.05 per ordinary share (equivalent to RMB 0.045) for the six months ended June 30, 2020.

As of June 30, 2020, the Group had land reserves of approximately1,975,000 sq.m, representing an increase of 22.9% compared to December 31, 2019, which providing sufficient support for future development.During the Reporting Period, the Group acquired a land parcel located at the High-Tech Development Zone, Zhuozhou with a land area of approximately 58,611 sq.m. and gross floor area (“GFA”) of approximately 310,000 sq.m. Currently, the construction business of the Group has established footprint in 15 provinces in China and has set up new offices in Shandong Province, Anhui Province and Sichuan Province. For the Group’s construction contracting business, during the Reporting Period, the new contract value amounted to approximately RMB 337 million.

During the Reporting Period, the revenue of property development business and construction contracting business of the Group were RMB 661 million and RMB 679 million respectively, representing an increase of RMB 321 million and RMB 354 million respectively as compared to the corresponding period of 2019.

Looking forward to the second half of 2020, the central government will adhere to the positioning of “houses are for living, not for speculation”, and will continue to focus on “stabilization” in the regulation and control policy of the property market, so as to achieve the annual goal of stabilizing land prices, housing prices and expectations. The marginal easing will be maintained in terms of monetary policy, but the financial supervision on the real estate sector will remain strict. Local governments will continue to implement policies depending on their own actual situations. The focus of real estate investments will be the core cities of the first-, second- and third-tier metropolitan areas where housing demand is supported by the long-term economic development, while the overall sales growth trend of real estate companies will be sustained against the backdrop of the continuous demand for housing improvement, and products will continue to be iteratively upgraded.

Mr. Li Baotian, Chairman of the Board, Executive Director and Chief Executive Officer of China Tianbao said In the second half of 2020, the Group will continue to adhere to the expansion strategy of “construction first and property development to follow”, and fully utilise the synergies between property development and construction contracting. As for the property development, the Group will focus on the development of metropolitan cities, satellite cities and other high-quality land resources, as well as, expand commercial complexes. In the area of construction business, the Group will constantly improve the qualifications of its infrastructure segment, develop engineering technology and information technology, and establish a sound information system, to seize key infrastructure projects, enlarge and strengthen its historic building business, and steadily increase its market share and the revenue from construction business.

The Group consolidates our brand by developing high-end quality projects and safeguards our brand with construction projects of excellent quality, to make concerted efforts in construction and development, our two prime businesses. Meanwhile, guided by our mechanism and culture, the Group establishes a team of talents with high efficiency, so as to create a “service + quality” cultural system and facilitate collaborative development of two major businesses.

About China Tianbao Group Development Company Limited
China Tianbao Group Development Company Limited is a property developer and construction company based in Zhuozhou, a city in Hebei Province, China. A wide range of businesses, including planning and design, construction engineering, property sales, investment and operations. As of June 30, 2020, the Group has a diversified portfolio of 20 real estate projects, including 18 residential properties, an investment property and a hotel, all of which are owned and developed by the Group. Among these 20 projects, 9 are completed projects, 6 are under construction and 5 are held for future development. As of June 30, 2020, the Group had land reserves with a total gross floor area (“GFA”) of approximately1,975,000 square meters (“sq.m.”). The Group’s acquired land reserves are mainly located in Zhuozhou and Zhangjiakou which have high development potential. The Group was listed on the main board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on November 11, 2019.

For more information about Tianbao Group, please visit the company’s website at http://www.chinatbjt.com