Announcement • Mar 23
CA Cultural Technology Group Limited, Annual General Meeting, Apr 29, 2026 CA Cultural Technology Group Limited, Annual General Meeting, Apr 29, 2026. Announcement • Mar 11
CA Cultural Technology Group Limited to Report First Half, 2026 Results on Mar 20, 2026 CA Cultural Technology Group Limited announced that they will report first half, 2026 results on Mar 20, 2026 Announcement • Jun 30
CA Cultural Technology Group Limited to Report Fiscal Year 2025 Results on Aug 31, 2025 CA Cultural Technology Group Limited announced that they will report fiscal year 2025 results on Aug 31, 2025 Announcement • Nov 19
CA Cultural Technology Group Limited to Report First Half, 2025 Results on Nov 29, 2024 CA Cultural Technology Group Limited announced that they will report first half, 2025 results on Nov 29, 2024 Reported Earnings • Aug 02
Full year 2024 earnings released: HK$0.14 loss per share (vs HK$0.87 loss in FY 2023) Full year 2024 results: HK$0.14 loss per share (improved from HK$0.87 loss in FY 2023). Revenue: HK$364.0m (up 1.0% from FY 2023). Net loss: HK$170.7m (loss narrowed 84% from FY 2023). Reported Earnings • Jun 30
Full year 2024 earnings released: HK$0.001 loss per share (vs HK$0.87 loss in FY 2023) Full year 2024 results: HK$0.001 loss per share (improved from HK$0.87 loss in FY 2023). Revenue: HK$364.0m (up 1.0% from FY 2023). Net loss: HK$170.7m (loss narrowed 84% from FY 2023). Announcement • Jun 29
CA Cultural Technology Group Limited, Annual General Meeting, Aug 28, 2024 CA Cultural Technology Group Limited, Annual General Meeting, Aug 28, 2024. Announcement • Jun 19
CA Cultural Technology Group Limited to Report Fiscal Year 2024 Results on Jun 28, 2024 CA Cultural Technology Group Limited announced that they will report fiscal year 2024 results on Jun 28, 2024 New Risk • Apr 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-HK$122m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-HK$961m). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$37.8m market cap, or US$4.83m). Reported Earnings • Dec 02
First half 2024 earnings released: HK$0.068 loss per share (vs HK$0.23 loss in 1H 2023) First half 2024 results: HK$0.068 loss per share (improved from HK$0.23 loss in 1H 2023). Revenue: HK$175.6m (down 9.1% from 1H 2023). Net loss: HK$80.6m (loss narrowed 70% from 1H 2023). Over the last 3 years on average, the company's earnings growth rate has exceeded its share price growth rate by 4 percentage points per year. Announcement • Nov 24
CA Cultural Technology Group Limited Provides Group Earnings Guidance for the Six Months Ended September 30, 2023 CA Cultural Technology Group Limited provided group earnings guidance for the six months ended September 30, 2023. For the period, the company expected that the Group will record a net loss of approximately HKD 75 million to HKD 85 million for the six months ended 30 September 2023, as compared to the net loss of approximately HKD 271 million for the six months ended 30 September 2022, which was primarily attributable tothe decrease in administrative expense and the decrease in provision for expected credit loss allowance on the Group's trade and other receivables for the six months ended 30 September 2023. Announcement • Nov 21
CA Cultural Technology Group Limited to Report First Half, 2024 Results on Nov 30, 2023 CA Cultural Technology Group Limited announced that they will report first half, 2024 results on Nov 30, 2023 Reported Earnings • Jul 04
Full year 2023 earnings released: HK$0.87 loss per share (vs HK$10.16 loss in FY 2022) Full year 2023 results: HK$0.87 loss per share (improved from HK$10.16 loss in FY 2022). Revenue: HK$360.3m (down 21% from FY 2022). Net loss: HK$1.03b (loss narrowed 1.6% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 13 percentage points per year, which is a significant difference in performance. Announcement • Jul 04
CA Cultural Technology Group Limited, Annual General Meeting, Aug 30, 2023 CA Cultural Technology Group Limited, Annual General Meeting, Aug 30, 2023. New Risk • Jul 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-HK$119m). Earnings have declined by 77% per year over the past 5 years. Market cap is less than US$10m (HK$56.7m market cap, or US$7.24m). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Announcement • Jun 20
CA Cultural Technology Group Limited to Report Fiscal Year 2023 Results on Jun 30, 2023 CA Cultural Technology Group Limited announced that they will report fiscal year 2023 results on Jun 30, 2023 Reported Earnings • Dec 02
First half 2023 earnings released: HK$0.23 loss per share (vs HK$0.02 profit in 1H 2022) First half 2023 results: HK$0.23 loss per share (down from HK$0.02 profit in 1H 2022). Revenue: HK$193.2m (down 38% from 1H 2022). Net loss: HK$271.8m (down HK$291.1m from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Nov 29
CA Cultural Technology Group Limited Provides Earnings Guidance for the Six Months Ended September 30, 2022 CA Cultural Technology Group Limited provided earnings guidance for the six months ended September 30, 2022. For the period, the company expects loss attributable to Shareholders in the range between HKD 260 million and HKD 300 million for the 6 months ended 30 September 2022 (the "Period"), as compared to a profit of approximately HKD 15 million for the corresponding period in 2021. Announcement • Nov 19
CA Cultural Technology Group Limited to Report Q2, 2023 Results on Nov 30, 2022 CA Cultural Technology Group Limited announced that they will report Q2, 2023 results on Nov 30, 2022 Announcement • Nov 05
CA Cultural Technology Group Limited Announces Board Changes The Board of CA Cultural Technology Group Limited announced that with effect from 3 November 2022: Mr. Tsang Wah Kwong has resigned as an independent non-executive Director, the chairman of the Audit Committee, a member of the Remuneration Committee, and a member of the Investment Committee of the Company; and Mr. Wang Guozhen has been appointed as an independent non-executive Director of the Company, the chairman of the Remuneration Committee, a member of the Audit Committee, and a member of the Investment Committee of the Company. Mr. Wang is responsible for providing independent judgement and advising on the issue of strategy, performance, resources and standard of conduct of the Group. Mr. Wang, aged 63, holds an executive master's degree in business administration with Cheung Kong Graduate School of Business. He joined the Ministry of Finance of the People's Republic of China in 1982 and has served as heads of various departments. He was also officer of General Office and Bureaucratic Service Center of National Council for Social Security Fund, the standing member of council of Beijing Charity Association and the member of 11th and 12th Beijing Municipal Committee of the Chinese People's Political Consultative Conference. Mr. Wang acted as the executive director and vice chairman of Hsin Chong Group Holdings Limited from September 2018 to November 2019. Hsin Chong is a company incorporated in Bermuda with limited liability and the securities of which were listed on the Main Board of The Stock Exchange until 31 December 2019. Hsin Chong was principally engaged in engineering and property businesses. HsinChong was wound up by an order of the Supreme Court of Bermuda dated 20 January 2020, following a winding-up petition being filed by a creditor and shareholder of Hsin Chong in January 2019. Mr. Wang confirmed that (i) the winding up had not resulted in any liability or obligation imposed against him; (ii) there was no wrongful act on his part leading to the winding up process of Hsin Chong; and (iii) he was not aware of any actual or potential claim that had been or would be made against him as a result of the winding up. Mr. Wang also acted as an independent non-executive director of Link-Asia International MedTech Group Limited ("Link-Asia") from November 2019 to April 2020 and has been acting as an executive director and the vice president of Link-Asia since April 2020. Following the resignation of Mr. Tsang as an independent non-executive Director Mr. Tsang has ceased to act as the chairman of the audit committee of the Company, a member of the Remuneration Committee and a member of the investment committee of the Company. Mr. Wang has been appointed as the chairman of the Remuneration Committee, a member of the Audit Committee and a member of the Investment Committee with effect from 3 November 2022. Mr. Hung Muk Ming, an existing independent non-executive Director, has ceased to be the chairman of but remained as a member of the Remuneration Committee, and has been appointed as the chairman of the Audit Committee with effect from 3 November 2022. The compositions of the Audit Committee, the Remuneration Committee and the Investment Committee have been changed as follows: Audit Committee: Mr. Hung Muk Ming, (chairman), Mr. Ni Zhenliang, Mr. Wang Guozhen. Remuneration Committee: Mr. Wang Guozhen (chairman), Mr. Ni Zhenliang, Mr. Hung Muk Ming. Investment Committee: Mr. Chong Heung Chung, Jason (chairman), Ms. Liu Moxiang, Mr. Ni Zhenliang, Mr. Wang Guozhen, and Mr. Hung Muk Ming. Reported Earnings • Sep 29
Full year 2022 earnings released: HK$1.02 loss per share (vs HK$0.087 profit in FY 2021) Full year 2022 results: HK$1.02 loss per share (down from HK$0.087 profit in FY 2021). Revenue: HK$453.1m (down 5.3% from FY 2021). Net loss: HK$1.05b (down HK$1.13b from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Announcement • Sep 28
CA Cultural Technology Group Limited, Annual General Meeting, Nov 01, 2022 CA Cultural Technology Group Limited, Annual General Meeting, Nov 01, 2022. Announcement • Sep 17
CA Cultural Technology Group Limited Revises Earnings Guidance for the Fiscal Year 2022 CA Cultural Technology Group Limited revised earnings guidance for the fiscal year 2022. For the period, the company expects to record a loss of an amount not less than HKD 840 million. The increase in the amount of expected loss compared to the one previously announced in the Announcement dated 30 June 2022 is primarily attributable to the following items on top ofsuch loss in the amount of approximately HKD 384 million in the Announcement dated 30 June 2022:the increase in amortization of intangible assets in the amount of approximately HKD 55.8 million to be recorded in the 2022 Financial Year, the increase in share of losses in a joint venture and associates in the amount of approximately HKD 39.0 million to be recorded in the 2022 Financial Year; the impairment losses with respect to investments in a joint venture and associates in the amount of approximately HKD 93.1 million to be recorded in the 2022 Financial Year; the impairment losses made on property, plant and equipment in the amount of approximately HKD 70.2 million to be recorded in the 2022 Financial Year; the impairment losses made on right-of-use assets in the amount of approximately HKD 20.7 million to be recorded in the 2022 Financial Year; the impairment losses made on intangible assets in the amount of approximately HKD 93.7 million to be recorded in the 2022 Financial Year; and the increase in the impairment losses under expected credit loss model in the amount of approximately HKD82.3 million to be recorded in the 2022 Financial Year. Reported Earnings • Jul 05
Full year 2022 earnings released: HK$0.37 loss per share (vs HK$0.087 profit in FY 2021) Full year 2022 results: HK$0.37 loss per share (down from HK$0.087 profit in FY 2021). Revenue: HK$453.1m (down 5.3% from FY 2021). Net loss: HK$375.1m (down HK$458.1m from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 4 percentage points per year. Announcement • Jul 01
Ca Cultural Technology Group Limited Provides Group Earnings Guidance for the Financial Year 2022 CA Cultural Technology Group Limited provided group earnings guidance for the financial year 2022. For the year, the group is anticipated to record a loss from approximately HKD 350 million to HKD 400 million as compared to the profit recorded for the financial year ended March 31, 2021 of approximately HKD 83.1 million, which was primarily attributable to the factors disclosed in the Announcement. Based on the latest assessment by the Board, the Board wishes to further supplement that the anticipated loss for the 2022 Financial Year is mainly due to: Significant decline in revenues of approximately HKD 113 million derived from theme park design and consultancy services for Shanghai, Qingdao and Japan theme parks due to partial lockdown and social restriction arising from COVID-19. Absence of one-off gain on changes in fair value of financial asset mandatorily measured at FVTPL and gain on disposal of property, plant and equipment approximately HKD 55.9 million which was incurred in prior year. Impairment loss approximately HKD 295.3 million on certain other receivable and trade receivable which have been significantly past due. Announcement • Jun 22
CA Cultural Technology Group Limited to Report Fiscal Year 2022 Results on Jun 30, 2022 CA Cultural Technology Group Limited announced that they will report fiscal year 2022 results on Jun 30, 2022 Announcement • Jun 16
CA Cultural Technology Group Limited Announces Board Changes CA Cultural Technology Group Limited announced that Mr. Ting Ka Fai Jeffrey ("Mr. Ting") has tendered his resignation as an executive Director with effect from 15 June 2022 owing to personal health and family reasons, but will continue to serve the Company as the chief operating officer, focusing on the operations of the Group. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Muk Ming Hung was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Apr 14
Founder recently sold HK$1.1m worth of stock On the 8th of April, Heung Chung Chong sold around 6m shares on-market at roughly HK$0.19 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$1.6m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$184m. Recent Insider Transactions • Mar 21
Founder recently bought HK$106k worth of stock On the 15th of March, Heung Chung Chong bought around 900k shares on-market at roughly HK$0.12 per share. In the last 3 months, they made an even bigger purchase worth HK$6.4m. Despite this recent buy, Heung Chung has been a net seller over the last 12 months, reducing personal holdings by HK$184m. Recent Insider Transactions • Feb 20
Founder recently bought HK$3.9m worth of stock On the 15th of February, Heung Chung Chong bought around 24m shares on-market at roughly HK$0.16 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Heung Chung has been a net seller over the last 12 months, reducing personal holdings by HK$191m. Buying Opportunity • Jan 18
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be HK$0.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% per annum over the last 3 years. Earnings per share has grown by 21% per annum over the last 3 years. Reported Earnings • Dec 30
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: HK$0.02 (down from HK$0.027 in 1H 2021). Revenue: HK$309.3m (up 79% from 1H 2021). Net income: HK$19.4m (down 24% from 1H 2021). Profit margin: 6.3% (down from 15% in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 21
Founder recently sold HK$998k worth of stock On the 13th of December, Heung Chung Chong sold around 2m shares on-market at roughly HK$0.50 per share. In the last 3 months, they made an even bigger sale worth HK$32m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$195m. Recent Insider Transactions • Dec 18
Founder recently sold HK$15m worth of stock On the 9th of December, Heung Chung Chong sold around 22m shares on-market at roughly HK$0.67 per share. In the last 3 months, they made an even bigger sale worth HK$32m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$194m. Board Change • Dec 09
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Honorable Chairman Shinichiro Ikeda was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Recent Insider Transactions • Oct 13
Founder recently sold HK$32m worth of stock On the 6th of October, Heung Chung Chong sold around 40m shares on-market at roughly HK$0.81 per share. This was the largest sale by an insider in the last 3 months. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$190m. Recent Insider Transactions • Sep 28
Founder recently sold HK$30m worth of stock On the 21st of September, Heung Chung Chong sold around 10m shares on-market at roughly HK$2.93 per share. This was the largest sale by an insider in the last 3 months. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$126m. Recent Insider Transactions • Sep 14
Founder recently sold HK$852k worth of stock On the 8th of September, Heung Chung Chong sold around 300k shares on-market at roughly HK$2.84 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$3.5m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$21m. Recent Insider Transactions • Aug 28
Founder recently sold HK$762k worth of stock On the 25th of August, Heung Chung Chong sold around 300k shares on-market at roughly HK$2.54 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$3.5m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$10.0m. Recent Insider Transactions • Aug 19
Founder recently sold HK$485k worth of stock On the 12th of August, Heung Chung Chong sold around 180k shares on-market at roughly HK$2.70 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$3.5m. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$7.9m. Recent Insider Transactions • Jul 14
Founder recently sold HK$2.8m worth of stock On the 9th of July, Heung Chung Chong sold around 975k shares on-market at roughly HK$2.88 per share. This was the largest sale by an insider in the last 3 months. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$1.1m. Reported Earnings • Jul 02
Full year 2021 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: HK$478.3m (up 22% from FY 2020). Net income: HK$83.1m (down 21% from FY 2020). Profit margin: 17% (down from 27% in FY 2020). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$2.80, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 33x in the Hospitality industry in Hong Kong. Total returns to shareholders of 4.3% over the past three years. Is New 90 Day High Low • Feb 20
New 90-day high: HK$3.07 The company is up 2.0% from its price of HK$3.00 on 20 November 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 14
New 90-day low: HK$2.24 The company is down 14% from its price of HK$2.61 on 16 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 15% over the same period. Reported Earnings • Dec 31
First half 2021 earnings released: EPS HK$0.027 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: HK$172.4m (down 27% from 1H 2020). Net income: HK$25.5m (up 2.7% from 1H 2020). Profit margin: 15% (up from 11% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 03
First half 2021 earnings released: EPS HK$0.027 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: HK$172.4m (down 27% from 1H 2020). Net income: HK$25.5m (up 2.7% from 1H 2020). Profit margin: 15% (up from 11% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 23
Market bids up stock over the past week After last week's 25% share price gain to HK$2.87, the stock is trading at a trailing P/E ratio of 25.1x, up from the previous P/E ratio of 20.1x. This compares to an average P/E of 34x in the Hospitality industry in Hong Kong. Total return to shareholders over the past three years is a loss of 4.0%. Announcement • Nov 20
CA Cultural Technology Group Limited to Report First Half, 2021 Results on Nov 30, 2020 CA Cultural Technology Group Limited announced that they will report first half, 2021 results on Nov 30, 2020 Recent Insider Transactions • Nov 18
Insider recently sold HK$7.0m worth of stock On the 12th of November, Den Fung Or sold around 3m shares on-market at roughly HK$2.80 per share. In the last 3 months, they made an even bigger sale worth HK$9.6m. Insiders have been net sellers, collectively disposing of HK$410m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Nov 16
Market pulls back on stock over the past week After last week's 24% share price decline to HK$2.30, the stock is trading at a trailing P/E ratio of 20.1x, down from the previous P/E ratio of 26.4x. This compares to an average P/E of 35x in the Hospitality industry in Hong Kong. Total return to shareholders over the past three years is a loss of 15%. Is New 90 Day High Low • Oct 30
New 90-day high: HK$3.34 The company is up 55% from its price of HK$2.16 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 9.0% over the same period. Recent Insider Transactions • Oct 27
Insider recently sold HK$9.6m worth of stock On the 19th of October, Den Fung Or sold around 4m shares on-market at roughly HK$2.54 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$400m more than they bought in the last 12 months. Recent Insider Transactions • Oct 24
Founder recently sold HK$3.3m worth of stock On the 15th of October, Heung Chung Chong sold around 1m shares on-market at roughly HK$2.64 per share. This was the largest sale by an insider in the last 3 months. Heung Chung has been a seller over the last 12 months, reducing personal holdings by HK$387m. Valuation Update With 7 Day Price Move • Oct 22
Market bids up stock over the past week After last week's 17% share price gain to HK$3.03, the stock is trading at a trailing P/E ratio of 26.5x, up from the previous P/E ratio of 22.7x. This compares to an average P/E of 25x in the Hospitality industry in Hong Kong. Total returns to shareholders over the past three years are 2.4%. Is New 90 Day High Low • Oct 14
New 90-day high: HK$2.55 The company is up 32% from its price of HK$1.93 on 16 July 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 10.0% over the same period. Announcement • Aug 22
CA Cultural Technology Group Limited to Report Fiscal Year 2020 Final Results on Aug 28, 2020 CA Cultural Technology Group Limited announced that they will report fiscal year 2020 final results on Aug 28, 2020 Announcement • Jul 30
CA Cultural Technology Group Limited (SEHK:1566) completed the acquisition of Flourishing Emerald Limited from Liu Zhongsheng. CA Cultural Technology Group Limited (SEHK:1566) entered into a sale & purchase agreement to acquire Flourishing Emerald Limited from Liu Zhongsheng for approximately HKD 120 million on April 23, 2020. The Consideration shall be satisfied by the CA Cultural Technology by procuring the Company to allot and issue 44 million consideration shares within seven days from the completion Date to the Liu Zhongsheng at the issue price of HKD 2.76 per consideration share that was determined after arm’s length negotiations between the company and the vendor. As on June 16, 2020, CA Cultural Technology Group Limited entered into a supplemental agreement pursuant to which the Completion shall be subject to each of the VIE Contracts becoming effective from the Date of Registration. Upon Completion, the Flourishing Emerald will become an indirect wholly-owned subsidiary of the Company and the financial results of the target group will be consolidated into the Group’s financial information. For year ended December 31, 2019, Flourishing Emerald had unaudited net assets of CNY 66 million (HKD 72.3 million) and profit after tax was CNY5.6 million (HKD 6.13 million). Transaction is subject to satisfaction of certain conditions like obtaining all necessary approvals and consents, the representations, warranties and undertakings remaining true, accurate, complete and non-misleading in all material respects, the grant or conditional grant of approval by the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the consideration shares having been obtained, Purchaser being reasonably satisfied with the results of the legal and financial due diligence review in respect of the target group precedent pursuant to the Sale and Purchase Agreement and transaction has long stop date as July 31, 2020.
CA Cultural Technology Group Limited (SEHK:1566) completed the acquisition of Flourishing Emerald Limited from Liu Zhongsheng on June 22, 2020. As on June 22, 2020, all conditions have been fulfilled. Announcement • Jun 18
CA Cultural Technology Group Limited to Report Fiscal Year 2020 Results on Jun 30, 2020 CA Cultural Technology Group Limited announced that they will report fiscal year 2020 results on Jun 30, 2020 