JTF International : INTERIM REPORT 2022

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and mid- sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, 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 report. This report, for which the directors (the "Directors") of JTF International Holdings Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this report misleading.

02 JTF International Holdings Limited  Interim Report 2022

The board of directors of JTF International Holdings Limited (the "Company") is pleased to announce the unaudited condensed interim financial results of the Company and its subsidiaries (the "Group" or "our Group") for the three months and six months ended 30 June 2022 together with comparative figures for the corresponding periods in 2021 as follows:

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		For the three months	For the six months
		ended 30 June	ended 30 June
		2022	2021	2022	2021
	Note	RMB'000	RMB'000	RMB'000	RMB'000
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Revenue	5	122,106	648,833	400,126	1,082,298
Cost of sales	6	(115,125)	(614,917)	(382,396)	(1,022,821)
Gross profit		6,981	33,916	17,730	59,477
Other (losses)/gains - net		(221)	-	(220)	1
Distribution expenses	6	(3,541)	(5,119)	(7,431)	(10,829)
Administrative expenses	6	(3,143)	(3,493)	(5,952)	(6,248)
Operating profit		76	25,304	4,127	42,401
Finance income - net	7	363	12	528	138
Profit before income tax		439	25,316	4,655	42,539
Income tax expense	8	(411)	(8,521)	(2,166)	(14,540)
Profit for the period		28	16,795	2,489	27,999
Other comprehensive income		-	-	-	-
Total comprehensive income
for the period		28	16,795	2,489	27,999
Earnings per share	9
- Basic and diluted (RMB)		0.0 cents	1.8 cents	0.3 cents	3.0 cents

The accompanying notes form an integral part of these condensed consolidated financial statements.

JTF International Holdings Limited  Interim Report 2022	03

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		At	At
		30 June	31 December
		2022	2021
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
ASSETS
Non-current assets
Property, plant and equipment	11	16,620	17,137
Right-of-use assets		4,048	4,259
Deferred income tax assets		770	733
Prepayments		4,194	4,194
		25,632	26,323
Current assets
Inventories		103,936	42,131
Prepayments		131,006	15,210
Trade and other receivables	12	89,071	504,936
Cash and cash equivalents		106,637	7,805
		430,650	570,082
Total assets		456,282	596,405
EQUITY
Equity attributable to the
owners of the Company
Share capital	14	7,980	7,980
Other reserves		285,916	282,462
Retained earnings		95,232	96,197
Total equity		389,128	386,639

04 JTF International Holdings Limited  Interim Report 2022

		At	At
		30 June	31 December
		2022	2021
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
LIABILITIES
Non-current liabilities
Lease liabilities		3,772	4,054
Deferred income tax liabilities		16,404	16,187
		20,176	20,241
Current liabilities
Trade and other payables	13	15,154	179,700
Contract liabilities		28,193	3,527
Lease liabilities		362	353
Current income tax liabilities		3,269	5,945
		46,978	189,525
Total liabilities		67,154	209,766
Total equity and liabilities		456,282	596,405

The accompanying notes form an integral part of these condensed consolidated financial statements.