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tai united holdings ltd (718) Details

Tai United Holdings Limited, together with its subsidiaries, engages in the trading of metal-related and petrochemical products. The company is also involved in the trading of securities and commodities; sale of medical equipment; mining of natural resources, such as tungsten; and asset investment activities. It operates in Hong Kong, the People’s Republic of China, Singapore, Malaysia, Greece, India, and the United Arab Emirates. The company was formerly known as Bestway International Holdings Limited and changed its name to Tai United Holdings Limited in August 2016. The company was incorporated in 1995 and is headquartered in Admiralty, Hong Kong. Tai United Holdings Limited is a subsidiary of Tai He Financial Group Limited.

50 Employees
Last Reported Date: 11/30/16
Founded in 1995

tai united holdings ltd (718) Top Compensated Officers

Executive Director
Total Annual Compensation: $390.0K
Compensation as of Fiscal Year 2016.

tai united holdings ltd (718) Key Developments

Tai United Holdings Limited Announces Change of Financial Year End Date

Tai United Holdings Limited announced that it has resolved to change the financial year end date of the company from 31 March to 31 December. The forthcoming financial year end date of the Company will be 31 December 2016 and the next audited financial statements of the company will be for the period of nine months from 1 April 2016 to 31 December 2016.

Tai United Holdings Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2016

Tai United Holdings Limited reported unaudited consolidated earnings results for the six months ended September 30, 2016. For the period, the company reported revenue of HKD 2,617,112,000 against HKD 9,896,000 a year ago. This was mainly due to the Group has started a series of new businesses since December 2015. Loss before tax was HKD 105,417,000 against HKD 3,468,000 a year ago. Loss for the period was HKD 109,016,000 against HKD 3,477,000 a year ago. Loss for the period attributable to owners of the company was HKD 108,918,000 or 7.26 cents per basic and diluted share against HKD 3,408,000 or 0.30 cents per basic and diluted share a year ago. The net loss for the period was mainly due to increase in finance costs, increase in exchange loss arising from the depreciation of Renminbi, increase in employee benefits expenses of approximately HKD 36 million which were incurred by the rapid business development during the period.

Tai United Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended September 30, 2016

Tai United Holdings Limited provided unaudited consolidated earnings guidance for the six months ended September 30, 2016. For the six months, the company expected a significant increase in the loss attributable to the equity holders of the company for the six months ended 30 September 2016, as compared with that for the six months ended 30 September 2015. The expected increase in unaudited consolidated net loss was mainly attributable to: exchange loss due to the depreciation of Renminbi of approximately HKD 25 million, decrease in fair value of held-for-trading investments of approximately HKD 35 million, increase in finance costs of approximately HKD 37 million and increase in employee benefits expenses of approximately HKD 19 million and other operating expenses due to rapid business development of approximately HKD 30 million incurred for the six months ended 30 September 2016.

 

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