Chen Hsong Holdings (00057) said it reported a loss attributable to equity holders of HK$173 million for the year ended 31 March 2016, as compared to the profit of HK$20.356 for the previous financial year.
Basic and diluted loss per share was HK27.5 cents.
The revenue was HK$1,248 million, a decrease of 20.4% from a year earlier.
The primary reason for the loss registered in this financial year - the first ever loss for the Group since its listing - was a sudden and swift devaluation by more than 3% of the Renminbi, the largest drop within two days since 1994, due to the Central Government of China reforming its Renminbi currency exchange policies on 11 August 2015 lowering the official daily Renminbi mid-point trading prices against the U.S. Dollar. As the Group keeps most of its assets denominated in the Renminbi, a serious foreign exchange loss was suffered in this financial year.
The proposed final and special final dividends are HK0.6 cent (2015: HK0.6 cent) and HK3.2 cents (2015: HK3.2 cents) per share, payable on or about 22 September 2016.
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