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Thursday, 29 August 2019, 08:48 HKT/SGT
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Source: CT Vision (International) Holdings Limited
CT Vision Announces 2019 Interim Results
Proactively Develops New Businesses

HONG KONG, Aug 29, 2019 - (ACN Newswire) - CT Vision (International) Holdings Limited ("CT Vision" or the "Group"; stock code: 0994) announced its unaudited interim results for the six months ended 30 June 2019 ("the Period"). During the Period, revenue for the Group amounted to HK$104.5 million, while gross profit was HK$31.9 million. The Group recorded a net profit of HK$10.3 million and earnings per share were HK1.69 cents.

On 19 February, 2019, CT Vision Investment Limited ("CT Vision Investment") invested in the Group. CT Vision Investment has officially become the Group's majority shareholder after the completion of the takeover on 24 April, with 51% of issued shares. CT Vision Investment's joining the Group would assist in developing the business of the Group by leveraging CT Vision Investment's experience and technology in the application of renewable energy in the construction sector; and international investment experience and business network in the construction sector both within mainland China and overseas. It would help the Group to expand into more business areas beyond construction projects such as green building construction and the application of renewable energy in China's construction industry and to diversify its income sources.

For the board of Directors, Dr. Ho Chun Kit Gregory, new Chief Executive Director and Executive Director, has extensive experience in finance and investment, especially in the renewable energy and technology, media and telecom (TMT) industry. Dr. Ho has previously participated in the investment in smart energy cities in China, which involved green building construction projects and the application of renewable energy in the construction sector; Ms. Du Yi, Chairlady of the board and Non-executive Director, has more than 24 years of industry experience in introducing foreign investment to infrastructure development in China; Mr. Wu Rui, Vice Chairman of the Board, has extensive experience in international trading business and transnational investment as well as searching for global green technology business opportunities and handling new-energy-related projects; Ms. Yip Man Shan, Non-executive Director, is currently Chairman of CITIC Land (Guangzhou) Co. Limited. She has rich experience in urban construction and operation management. The Group is confident that after its appointment on April 26, the new board of Directors will lead it forward to develop and expand into new businesses, which will subsequently diversify its income sources.

In addition, Ms. Ng Yi Kum, Estella, Mr. Wong Wing Cheong Philip and Dr. Tang Dajie have been appointed as Independent Non-executive Directors of the Company with effect from 16 July 2019. Ms. Ng is a qualified accountant with rich financial experience. She has held Senior Vice President of the Listing Division in the Hong Kong Stock Exchange and served as Executive Director of several listed companies; Mr. Wong is a Partner and Head of the Commercial Department of a firm of solicitors and notaries in Hong Kong with rich experience in the legal profession; Dr. Tang has over 20 years of experience in investment, financing and corporate management. He has held Vice President of Shenzhen Capital Group Company Limited and the Managing Director of Shenzhen High-tech Investment Group Company Limited. The Group believes that three Independent Non-executive Directors will provide more independent, objective and professional business development advice to the Group.

About CT Vision (International) Holdings Limited
CT Vision (International) Holdings Limited (formerly known as Win Win Way Construction Holdings Ltd.) is a construction company principally providing foundation works and ancillary services, as well as general building works in Hong Kong. The Group has more than 18 years of experience in the construction industry in Hong Kong, undertaking a variety of projects, including commercial complexes, hospitals, hotels, housing estates, schools, industrial buildings and private residential buildings. On 6 July 2018, the Group acquired 100% equity interest of TIEN New Energy Development Limited to develop form main engineering, procurement and construction ("EPC") in electric power projects in China with a focus in application of renewable energy in the construction sector of China.


Topic: Press release summary
Sectors: Daily Finance, Daily News
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