lung cheong intl hldgs ltd (LCZ) Snapshot

Lung Cheong International Holdings Limited announced that Ms. Fang Fang has been appointed as an executive Director, and a member of each of the nomination committee and remuneration committee of the Company with effect from 31 May 2013. Ms. Fang Fang, aged 35, was appointed as a director of L C Technology Limited, a wholly owned subsidiary of the Company, since 1 March 2013 to oversee the strategic development of that subsidiary.

Lung Cheong International Holdings Limited, Special/Extraordinary Shareholders Meeting, Mar 14, 2013., at 09:30 China Standard Time. Location: Unit 11, First Floor, Houston Centre. Agenda: To consider and, if thought fit, passing with or without amendment, the resolution that the placing agreement dated November 6, 2012 entered into between the company as issuer and Vision Finance International Company Limited as placing agent in relation to the placing of up to a maximum of 2,000,000,000 new shares of HKD 0.10 each in the share capital of the company at a placing price of HKD 0.20 per placing share; to consider the conditional upon, among others, the listing committee of The Stock Exchange of Hong Kong Limited granting the listing of, and permission to deal in the issue and allotment of the placing shares; and to authorize the directors be and are hereby to exercise all the powers of the company and take all steps as might in the opinion of the directors be desirable, necessary or expedient in connection with the implementation of the transactions contemplated under the placing agreement as well as in relation to the issue and allotment of the placing shares.

Lung Cheong International Holdings Limited announced unaudited consolidated earnings results for the six months ended September 30, 2012. For the period, turnover was HKD 145,815,000, operating profit was HKD 1,163,000, profit before income tax was HKD 285,000 and profit for the period attributable to owners of the company was HKD 285,000 or 0.01 cents per basic and diluted share against turnover of HKD 316,975,000, operating profit of HKD 86,524,000, profit before income tax of HKD 85,127,000 and profit for the period attributable to owners of the company of HKD 85,127,000 or 2.88 cents per basic and diluted share for the same period a year ago. The decline in consolidated profit was primarily attributable to the fact that there was a one-off gain on disposal of the company's subsidiaries of approx HKD 92 million for the six months ended 30 September 2011 which did not occur for the same period in this year and partly due to the decrease in sales of the Group for the period. Net cash outflow from operating activities was HKD 32,427,000 compared with net cash inflow from operating activities of HKD 10,697,000 a year ago.