Plastec Technologies, Ltd. - 20-F filing on 2018-04-30

Condensed financial information of Plastec Technologies, Ltd. (Tables)

12 Months Ended

Dec. 31, 2017

Balance Sheets

	December 31,		December 31,
	2016		2017
	HK$		HK$
Assets
Current assets
Cash and cash equivalents		394,508		274,094
Amounts due from subsidiaries		265,536		364,596
Consideration receivable		131,686		141,341
Prepaid expenses		171		1,053
Total current assets		791,901		781,084
Investment in subsidiaries		-		-
Total assets		791,901		781,084

Liabilities and shareholders’ equity
Current liabilities
Account payable and accrued liabilities		1,485		950
Tax payable		3,129		3,129
Total current liabilities		4,614		4,079
NET CURRENT ASSETS		787,287		777,005
TOTAL ASSETS AND LIABILITIES		787,287		777,005

Shareholders’ equity
Ordinary shares (US$0.001 par value; 100,000,000 authorized, 12,938,128 and 12,938,128 shares issued and outstanding as of December 31, 2016 and 2017, respectively)		101		101
Retained earnings		787,186		776,904
Total shareholders’ equity		787,287		777,005

Statements of operations and comprehensive income

	Year ended December 31,		Year ended December 31,		Year ended December 31,
	2015		2016		2017
	HK$		HK$		HK$

Revenues		74,000		-		-
Other income		13,091		17,866		5,689
Gain on disposal of a subsidiary		-		1,149,128		141,341
Administrative expenses		(16,213)		(10,573)		(5,937)
Income before income tax expense		70,878		1,156,421		141,093
Income tax expense		(232)		-		-
Total comprehensive income		70,646		1,156,421		141,093

Statements of cash flows

	Year ended December 31,		Year ended December 31,		Year ended December 31,
	2015		2016		2017
	HK$		HK$		HK$
Cash flows from operating activities
Net income		70,646		1,156,421		141,093
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposal of a subsidiary		-		(1,149,128)		(141,341)
Change in operating assets and liabilities
Prepaid expenses		(94)		999		(882)
Accounts payable and accrued liabilities		5,585		(4,516)		(534)
Income tax		232		-		-
Net cash provided by/(used in) operating activities		76,369		3,776		(1,664)

Cash flows from investing activities
Decrease in dividend receivable		70,000		-		-
Sale proceeds of disposal of a subsidiary, net		-		1,017,442		131,686
Net cash provided by investing activities		70,000		1,017,442		131,686

Cash flows from financing activities
Decrease/(increase) in amount due from subsidiaries		-		22,300		(99,060)
Dividend paid		(121,101)		(837,614)		(151,376)
Net cash used in financing activities		(121,101)		(815,314)		(250,436)
Net increase/(decrease) in cash and cash equivalents		25,268		205,904		(120,414)
Cash and cash equivalents, beginning of year		163,336		188,604		394,508
Cash and cash equivalents, end of year		188,604		394,508		274,094

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest income		267		857		2,089

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:
Consideration receivable		-		131,686		141,341