News

Grand Group Investment PLC
Final Results

26 June 2015

Final Results

Grand Group Investment PLC (AIM:GIPO), a provider of expansion capital and value added services to China-based SMEs with high growth potential, today announces its maiden set of Final Results for the period from 4 March 2014 to 31 December 2014 (the "period").

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Financial Highlights

  • Total assets stand at RMB 480 million (approximately £50 million)
  • Profit for the period of RMB 205 million (approximately £22 million)
  • Cash position excludes the proceeds from the Placing and Admission to AIM, which occurred post period

Post period highlights

  • Successful Placing and Admission to AIM on 27 January 2015 raising £7.1 million gross
  • Robust cash position post Admission to AIM
  • Cash investment of RMB 20 million into Jinxuntong, a Chinese online learning solutions provider

*The illustrative exchange rate as at 31 December 2014 was 1 GBP: 9.6 RMB

James Newman, Non-Executive Chairman of Grand Group Investment PLC, said: “We are delighted to present our first set of results as a newly quoted company on AIM.  Our first investment, a 33.33% holding in Wuxi Victory Media & Culture Co., Ltd. (“Victory China”), grew rapidly in 2014, with revenue more than doubling to RMB 237 million and net profit increasing by over 150% from RMB 55.8 million to RMB 144.5 million.  After our fiscal year end, the Group raised £7.1 million and was admitted to AIM in January 2015, which in turn allowed us to make our second investment in Jinxuntong during the first half of 2015.”

"The past year has been a difficult year for global investors and for Yangtze, with its focus on investment in China. Despite a volatile global economy, the economy in China continued to report GDP growth of 7.6 per cent in the first half of 2012, a figure that helped to dispel fears of a hard landing for the economy amid tightening policies to curb inflation."

 

For further information:

Grand Group Investment PLC  
James Newman, Non-Executive Chairman Tel: +86 510 8329 1718
  www.grandgroupplc.com
ZAI Corporate Finance Limited  
Ray Zimmerman / Ivy Wang Tel: +44 (0) 20 7060 2220
Steven Baird (Broker) www.zaicf.com

 

The financial information contained in this announcement does not constitute, but has been extracted from, the Group’s audited financial statements for the period ended 31 December 2014 upon which the auditors issued an unmodified audit opinion and which will shortly be available on the Company’s website at www.grandgroupplc.com. They are expected to be posted to shareholders on 29 June 2015 together with a Notice convening an Annual General Meeting for 23 July 2015.

 

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