Future Bright Holdings Limited 佳景集團有限公司

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Future Bright Holdings Limited * 佳景集團有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 703) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2013 FINANCIAL HIGHLIGHTS Year ended 31 December 2013 2012 Change HK$’000 HK$’000 % Turnover 746,541 646,093 15.5% Profit before interests, tax expense, depreciation and amortisation 357,933 343,476 4.2% Profit attributable to owners of the Company 260,957 242,279 7.7% Basic earnings per share HK41.49 cents HK43.18 cents -3.9% Final dividend per share HK5.5 cents HK4.5 cents 22.2% Special dividend per share Nil HK1.5 cents -100% 31 December 31 December 2013 2012 Change HK$’000 HK$’000 % Total assets 1,405,922 1,164,700 20.7% Net assets 821,703 603,354 36.2% Net assets per share HK$1.307 HK$0.959 36.2% Gearing ratio 19.3% 39.9% -20.6% Total assets/total liabilities ratio 2.41 2.07 16.4% * For identification purpose only – 1 – ANNUAL RESULTS The board of directors (“Directors”) of Future Bright Holdings Limited (“Company”) is pleased to announce the audited consolidated annual results of the Company and its subsidiaries (“Group”) for the year ended 31 December 2013 as follows: CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2013 2013 2012 Notes HK$’000 HK$’000 Turnover 4 746,541 646,093 Cost of sales (205,440) (185,547) Gross margin 541,101 460,546 Direct operating expenses (269,252) (223,458) Gross operating profit 271,849 237,088 Other revenue 6 19,485 13,540 Other gains and losses 7 132,946 151,661 Administrative expenses (90,447) (88,994) Finance costs 9 (11,247) (9,246) Profit before income tax expense 8 322,586 304,049 Income tax expense 10 (35,720) (36,267) Profit for the year 286,866 267,782 Other comprehensive income, net of tax Items that may be reclassified to profit and loss: Exchange differences on translating foreign operations (53) 126 Total comprehensive income for the year 286,813 267,908 Profit attributable to: Owners of the Company 260,957 242,279 Non-controlling interests 25,909 25,503 286,866 267,782 Total comprehensive income attributable to: Owners of the Company 260,904 242,405 Non-controlling interests 25,909 25,503 286,813 267,908 Earnings per share – Basic (HK cents per share) 12 41.49 43.18 – Diluted (HK cents per share) 12 41.49 43.18 – 2 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2013 2013 2012 Notes HK$’000 HK$’000 Non-current assets Property, plant and equipment 67,357 71,023 Investment properties 520,000 400,000 Goodwill 14 81,781 81,781 Interest in a joint venture – – Prepayments 15 3,883 – Pledged bank deposit 207,759 204,874 Total non-current assets 880,780 757,678 Current assets Inventories 27,363 27,619 Trade and other receivables 15 46,693 34,159 Financial assets at fair value through profit or loss 16 4,517 8,600 Pledged bank deposits 20,684 16,326 Cash and cash equivalents 425,885 320,318 Total current assets 525,142 407,022 Total assets 1,405,922 1,164,700 Current liabilities Trade and other payables 17 119,033 95,281 Current tax liabilities 73,855 59,300 Interest bearing borrowings 18,655 20,694 Non-interest bearing borrowings 1,388 – Total current liabilities 212,931 175,275 Net current assets 312,211 231,747 Total assets less current liabilities 1,192,991 989,425 – 3 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION – Continued As at 31 December 2013 2013 2012 Notes HK$’000 HK$’000 Non-current liabilities Interest bearing borrowings 335,259 368,871 Deferred tax liabilities 30,600 16,200 Non-interest bearing borrowings 5,429 1,000 Total non-current liabilities 371,288 386,071 Total liabilities 584,219 561,346 NET ASSETS 821,703 603,354 Capital and reserves attributable to owners of the Company Share capital 62,890 62,890 Reserves 747,115 538,417 Equity attributable to owners of the Company 810,005 601,307 Non-controlling interests 11,698 2,047 TOTAL EQUITY 821,703 603,354 – 4 – NOTES TO THE FINANCIAL STATEMENTS 31 December 2013 1. GENERAL Future Bright Holdings Limited is a public limited company incorporated in Bermuda. Its shares are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Its head office and principal place of business are at Room 1409, West Tower, Shun Tak Centre, 200 Connaught Road Central, Hong Kong. The Group, comprising the Company and its subsidiaries, is engaged in the sales of food and beverage and food souvenir and property investment. 2. BASIS OF PREPARATION (a) Statement of compliance The consolidated financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards (“HKASs”) and Interpretations (hereinafter collectively referred to as the “HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and the disclosure requirements of Hong Kong Companies Ordinance. In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on the Stock Exchange. (b) Basis of measurement The financial statements have been prepared under the historical cost basis except for investment properties and certain financial assets, which are measured at fair values as explained in the accounting policies set out in note 4 to the financial statements of the Company’s 2013 annual report. (c) Functional and presentation currency The functional currency of the Company is Macau Patacas (“MOP”). Each entity in the Group maintains its books and records in its own functional currency. As the Company is listed on Main Board of the Stock Exchange, the Directors consider that it is more appropriate to adopt Hong Kong dollars (“HK$”) as the Group’s and the Company’s presentation currency. 3. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRS”) (a) Adoption of new/revised HKFRSs – effective 1 January 2013 Amendments to HKAS 1 (Revised) Presentation of Items of Other Comprehensive Income Amendments to HKFRS 7 Offsetting Financial Assets and Financial Liabilities HKFRS 10 Consolidated Financial Statements HKFRS 11 Joint Arrangements HKFRS 12 Disclosure of Interests in Other Entities HKFRS 13 Fair Value Measurement HKAS 19 (2011) Employee Benefits HKAS 27 (2011) Separate Financial Statements HKAS 28 (2011) Investments in Associates and Joint Ventures Amendments to HKAS 1 (Revised) – Presentation of Items of Other Comprehensive Income The amendments to HKAS 1 (Revised) require the Group to separate items presented in other comprehensive income into those that may be reclassified to profit and loss in the future (e.g. revaluations of available-for-sale financial assets) and those that may not (e.g. revaluations of property, plant and equipment). Tax on items of other comprehensive income is allocated and disclosed on the same basis. The amendments are applied retrospectively. As the amendments affect presentation only, there are no effects on the Group’s financial position or performance. – 5 – NOTES TO THE FINANCIAL STATEMENTS – Continued 31 December 2013 3. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRS”) – Continued (a) Adoption of new/revised HKFRSs – effective 1 January 2013 – Continued HKFRS 13 – Fair Value Measurement HKFRS 13 provides a single source of guidance on how to measure fair value when it is required or permitted by other standards. The standard applies to both financial and non-financial items measured at fair value and introduces a fair value measurement hierarchy. The definitions of the three levels in this measurement hierarchy are generally consistent with HKFRS 7 “Financial Instruments: Disclosures”. HKFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. an exit price). The standard removes the requirement to use bid and ask prices for financial assets and liabilities quoted in an active market. Rather the price within the bid-ask spread that is most representative of fair value in the circumstances should be used. It also contains extensive disclosure requirements to allow users of the financial statements to assess the methods and inputs used in measuring fair values and the effects of fair value measurements on the financial statements. HKFRS 13 is applied prospectively. HKFRS 13 did not materially affect any fair value measurements of the Group’s assets and liabilities and therefore has no effect on the Group’s financial position and performance. The standard requires additional disclosures about fair value measurements and these are included in notes to the financial statements of the Company’s 2013 annual report. (b) New/revised HKFRSs that have been issued and have been early adopted Amendments to HKAS 36 – Recoverable Amount Disclosures The amendments limit the requirements to disclose the recoverable amount of an asset or cash generating unit (“CGU”) to those periods in which an impairment loss has been recognised or reversed, and expand the disclosures where the recoverable amount of impaired assets or CGUs has been determined based on fair value less costs of disposal. The amendments are effective for annual periods commencing on or after 1 January 2014. The Group has early adopted the amendments to HKAS 36 in the current year.

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