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Shenzhou Space Park Group Limited, 00692.HK - Company Profile
Chairman	He Jianbin
Share Issued (share)	8,655,000,000
Par Currency	Hong Kong Dollar
Par Value	0.001
Industry	Furniture & Household Goods
Corporate Profile	Business Summary: The Group was principally engaged in trading of wooden products and provision of interior design services, the sales of fabrics and garments and other related accessories, iron and titanium exploration, development and mining in the PRC, securities investment, fashion business, money lending business and provision of information and technologies services and sales of related products during the year. Performance for the year: The Group recorded a net loss attributable to equity holders of the Company of HK$341.5 million for the year as compared with RMB1,087.0 million in previous year. The Group’s revenue and gross profit were HK$872.4 million and HK$172.8 million respectively,compared to HK$1,152.1 million and HK$329.8 million in the previous year. Basic loss per share improved from HK$0.306 in previous year to HK$0.073 this year. Business Review: The Group owns the mining rights with a total area of 7.89 square km. There has been no material change in the estimated coal reserves and resources of the Group’s iron and titanium dioxide mines. As a result of volatile metal commodity market, the Group recorded a significant impairment loss on exploration and evaluation assets of HK$699.2 million in previous year and narrowed to HK$56.4 million this year. Due to continual keen competition, the resulting contribution from the Group's previous business combination was less promising but improving, impairment on goodwill recessed from HK$272.8 million in previous year to HK$150.9 million this year while gain from other financial assets, which represented profit guarantee decreased from HK$237.9 million in previous year to HK$121.2 million this year. The Group received continual enquiry from investors and the Group issued convertible notes to promissory note holders during the year. Resulting from fair value regime of the accounting standard, the Group recorded a loss of HK$79.8 million for such financing activities. Conequently, the Group's finance costs reduced from HK$137.3 million in previous year to HK$91.6 million this year. Income tax expense decreased from HK$51.3 million in previous year to HK$41.6 million this year. This was in line with the Group's decrease in operating profit. Prospects: The Group would strive for a turn around in the household business and closely study the development of the mining industry. At the same time, the Group would look for proper investments that would diversify the Group’s risk and rewards. The Group is closely monitoring the acquisition of Aerospace Themed-Park Project and is confident that the acquisition will turn the Group to a new leaf.

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