International Mining : Royal China International Announces 2017 Interim Results

International Mining : Royal China International Announces 2017 Interim Results Press Release For Immediate Release Royal China International Announces 2017 Interim Results HIGHLIGHTS HK$ thousand（Unaudited） Nine months ended 30 June 2017 2016 Revenue 74,412 94,623 Gross profit 28,410 41,729 Profit before taxation 5,770 28,049 Taxation (2,574) (4,460) Profit and total comprehensive income for the period 3,196 23,589 Earnings per share: Basic and diluted (HK cents) 0.6 4.7 18 August 2017, Hong Kong - Royal China International Holdings Limited (the "Company", and its subsidiaries collectively referred hereafter as the "Group") is pleased to announce its interim results today. During the nine months ended 30 June 2017, the Group recorded a turnover of HK$74.4 million and a consolidated net profit of HK$3.2 million. Earnings per share of the Group was 0.6 HK cents. The decrease in consolidated net profit was mainly attributable to: (i) the substantial decrease in revenue and gross profit of one-stop integrated interior design solutions arisen from intensive competition in the interior design industry; (ii) the increase of professional fees incurred for the mandatory unconditional cash offer for the shares of the Company; and (iii) the increase in the operating expenses for preparing new businesses and general administrative purpose. In order to broaden the Group's sources of income and to enhance its business development, after assessment of the Group's one-stop integrated interior design solutions business and various business opportunities available to the Group, the Board has decided to explore business opportunities in aviation and traveling business and financing services. Design, Fit out, and Decoration Segment During the nine months ended 30 June 2017, the revenue derived from the design, fit out and decoration ("DFD") projects in Hong Kong amounted to HK$45.3 million. The revenue derived from the DFD projects in Hong Kong decreased due to the Hong Kong market sentiment turned amid, the possibility for increase in US interest rate and uncertainty in the economic outlook resulting in a decline in the number of sizeable DFD projects in Hong Kong. Financing Services Segment Precious Metal Trading Business：On 29 June 2017, Hong Kong Exchanges and Clearing Limited and CGSE signed a Memorandum of Understanding. This event signifies a strategic partnership which aims to build a major gold and commodities trading center in Asia Pacific. On 9 May 2017, the Group purchased the membership of the Chinese Gold & Silver Exchange Society to conduct business of trading and exchange of precious metal. We are optimistic about the prospects of precious metal trading market in Hong Kong and the PRC and our precious metal trading business. Aviation and Traveling Segment Business Jet Management Business： On 12 July 2017, the Group entered into subscription agreement with BAA Jet Management Limited ("BAA"), a top business jet management company in the PRC for establish a joint venture Himalaya Business Aviation Limited (the "HBA"). HBA and a lessee (the "Lessee") of a Gulfsteam model of G550 aircraft entered into an aircraft management agreement, pursuant to which the Lessee has agreed to engage HBA to manage an Aircraft. We believe that the Group can leverage on the reputation, expertise and extensive experience of BAA to expand our business jet management business and bring positive returns to the Group. The Group is actively looking for and negotiating for potential business opportunities for our business jet management service. Service of Aircraft Sales Business：On 27 July 2017, the Company and Royal China Group International Holdings Limited ("RCG") entered into an agency agreement for the provision of agency service by the Company to act as an exclusive purchase agent for RCG in its purchase of a business jet. We believe that our agency service on business jet purchase would provide an opportunity for the Group to diversify our business into service of aircraft sales and broaden our sources of income. Because of the downturn in both macro property market and construction & design industry, the Group's business of design, fit out and decoration seems to be pessimistic. In accordance with initiative of "One belt, One road", it aims to promote the connection of infrastructure construction, strengthen economic, trade and industrial cooperation, and boost the integration in financial and other industries among more than 60 economic entities along "One belt, One road". The aviation industry will become the carrier and be benefited from the Air Silk Road, which brings tremendous development opportunities. The Group will combine its own resources and strive to explore other related business opportunities in order to create greater value for shareholders. -End- General Enquiry Address: Suites 2608-11, 26th Floor, Champion Tower, ThreeGarden Road, Central, Hong Kong Tel:(852) 3955 5901 Fax:(852) 3955 5900 Email: info@royalchina.hk Royal China International Holdings Limited published this content on 18 August 2017 and is solely responsible for the information contained herein.Distributed by Public, unedited and unaltered, on 21 August 2017 03:12:06 UTC. Porch Fest lights up community spirit When the lights went out in downtown Norman Saturday night, the Porch Fest party didn't stop. Normanites strolled through the Miller Historic District, mostly ignoring the power outage, voices soft as they stopped to visit with friends and listen to acoustic performances. Some seemed hardly aware that a major portion of downtown Norman running through the Porch Fest area had lost power. Others thought it added to the community-friendly atmosphere of the event. “It's kind of cool because the power did go out, and it makes it more intimate,” said Stevie Michelle. “We have amazing talent in Norman. Our community is so cool.” Irrational Consumers, a skunk (ska-punk fusion) band comprised of middle and high school students, performed with gusto in front of McMichael Music despite losing their microphones and amplifiers during the set. Parents and fans joked that they had blown out the power in the whole block. “Porch Fest is really magical,” said Kyle Bergersen, the father of two Irrational Consumers members. Bergersen said the family had been out of town for last year's festival and only returned shortly before Porch Fest, so this was the boys' first chance to participate as performers. “We just accidentally stumbled on it last year, and it's awesome,” he said. For some, enjoying the Miller neighborhood was a big part of the draw. “I came last year and loved it. I've always admired the porches on this block,” said Lauren Hale. “It's pretty amazing. They're going to power through despite the power outage.” Elaine Kumin said she's old enough to remember when people sat on their front porches and strolled along the sidewalk visiting with neighbors, then air conditioning and garage doors came along, and things changed. “People go in their houses, and they don't come out,” Kumin said. “This is a taste of what was. It's great to see children out, playing. It's a wonderful sense of community.” Friends and neighbors greeted one another, kids ran through the grass and people brought their dogs on leashes with hosting porch owners often providing bowls of water for the visiting canines. “I like listening to this kind of music,” said Abram, who added that he is four-and-a half before jumping up and running circles through the grass. “We were listening to some acoustic around the corner,” said Jeff Mlekush, who said they hadn't realized that Porch Fest was affected by the power outage, though he and others had been at nearby downtown businesses when the power went out and decided to come on over to the neighborhood music festival. Despite the positive attitudes, many performers were affected and a couple of porches shut down performances, but most kept going. Only three participating porches, all located on Miller Avenue still had power. “We shifted a few people who were electric only over to Miller where they had power,” said co-organizer Sara Kaplan. “There were only a couple of people who cut their sets short.” The early crowd was smaller this year with temperatures back on the rise Saturday, but with darkness descending, the crowds seemed to expand, even around houses with torchlight or no lights at all. “It would be better if the power would come back on,” said Janelle Powers. “It's hard on the musicians. We like singer, songwriter music. We came last year and were looking forward to it this year. We like this neighborhood.” Carol Danko said the heat and the bugs made for a lighter crowd this year, but the event was still worth showing up. “It's amazing that this all happens in people's yards,” said John Sandridge. “I think It's really good for the community.” FANTASY PLAYS: Devers emerging as fantasy star in Boston There is yet another fantasy rookie impressing this season, this time in Boston. Elsewhere, a pitcher has returned to dominate the league, a closer has hit the DL and a Yankees outfielder is struggling — and it's not Aaron Judge. Rafael Devers, BOS - To say Devers has been impressive since his arrival might be an understatement. In just 18 games, Devers is hitting .348 with six home runs, 13 Runs and 13 RBIs. The question with Devers was never his ability to hit but his ability to find playing time. Well, it's safe to say that Devers will play as much as he can handle given this production. Devers won't carry a .350-ish average regularly, as his current .400 BABIP is evidence of some luck. However, Devers can hit in the .280-.300 range over a full season and has the power to hit the mid-20s in home runs. Interestingly, Devers only has one stolen base after having none in the minors this year and 18 in 2016. It appears Devers has focused on hitting more than running, and as long as he keeps hitting at this clip, we can live with it. And continuing this hitting success is likely, as Devers also has great plate discipline with a 9.6 swinging strike percentage and a quality 39.2 hard hit ball percentage. If you grabbed Devers in your league, sit back, keep him in the lineup and enjoy the rewards. Danny Salazar, CLE - Salazar has a 1.39 ERA with 46 strikeouts in 32.1 innings in five starts since his return from a shoulder injury. Read that sentence again. Salazar has been an elite-level pitcher, but here's a tip: Sell Salazar now. First, he's not Clayton Kershaw. Even with his great strikeout ability, Salazar has never been able to limit his walks or home runs allowed. Salazar normally sits in the 16-19 range for SOBB (strikeout percentage minus base on balls percentage), which is quite good but hurt by a walk percentage usually around 10. In addition, three of the five teams he faced rank inside the top 10 for strikeout percentage and all are in the top half of the league. Second, Salazar has struggled with injuries throughout his career. The 2015 season was the only time he topped 170 innings, as Salazar missed time last year and again this season. Someone is going to salivate over those strikeouts and ignore Salazar's more usual output. Trevor Rosenthal, STL - Rosenthal hit the DL, which is unfortunate given how well he was pitching. Rosenthal had finally turned back into the top-end closer we saw in the 2014-15 seasons. Rosenthal had given up just two earned runs since June and had a second half SOBB of 34.5. Fortunately, Seung-Hwan Oh has rediscovered his shutdown ability as well. Oh has a 0.82 ERA with just one earned run since July 19 and 13 strikeouts in 11 innings. If Oh is available in your league, grab him immediately, but don't drop Rosenthal. Oh struggled earlier this year and is 35 years old. Rosenthal was back to being a dominant closer and can once again be the Cardinals' future at the position. Brett Gardner, NYY - Owners might be a bit worried as Gardner is just three for his last 27 and had just two runs and zero RBIs before notching two of each against the Mets on Thursday night. More concerning was seeing Gardner sit out a game in the series now that the team is near full strength in the outfield with Jacoby Ellsbury and Aaron Hicks back. Don't be concerned, and if you can grab Gardner for a worried owner, do so. The Yankees don't have any more road games in the National League, meaning no more concerns about one of the four sitting. Matt Holliday is nearing a return, which again likely worries Gardner owners, but Holliday is hitting just .229 this year, so don't expect Holliday to steal too many starts from Gardner. After all, he still has 19 home runs, 75 runs, 51 RBIs and 15 SBs this season and was scorching hot in May. Gardner can go on a run again at any time, and even if not, he's a valuable piece down the stretch despite recent struggles. The Mets are selling off pieces like they're going out of business. The offense is ripe for targeting pitchers to start. The White Sox had their fire sale long ago and continue to struggle offensively. The Brewers are fading and striking out at a league-high rate. Meanwhile, the Astros continue to mash, and the Indians have heated up lately, especially Edwin Encarnacion. Avoid both teams. This column was provided to The Associated Press by Jake Ciely of the Fantasy Sports Network, http://FNTSY.com Copyright 2017 The Associated Press. All rights reserved. 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