Suncity : ANNOUNCEMENT - SECOND QUARTERLY REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2020 BY A LISTED SUBSIDIARY - SUNTRUST HOME DEVELOPERS, INC.

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.

SUNCITY GROUP HOLDINGS LIMITED

太陽城集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1383)

ANNOUNCEMENT

SECOND QUARTERLY REPORT FOR THE SIX MONTHS ENDED

30 JUNE 2020 BY A LISTED SUBSIDIARY -

SUNTRUST HOME DEVELOPERS, INC.

This announcement is made by Suncity Group Holdings Limited (the "Company") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

This announcement is not an announcement on the financial results of the Company but an announcement to provide shareholders of the Company and the public investors with information on the financial results of Suntrust Home Developers, Inc. ("SunTrust"), an overseas listed subsidiary of the Company listed on The Philippine Stock Exchange, Inc. ("PSE").

Reference is made to the overseas regulatory announcement of the Company dated 14 August 2020 on the second quarterly report for the six months ended 30 June 2020 (the "Q2 Report") published by SunTrust on the website of PSE on 14 August 2020.

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Set out below are the financial highlights containing key financial information of SunTrust extracted from the Q2 Report, which was prepared in accordance with the Philippine Financial Reporting Standards, for information of the shareholders of the Company and the public investors:

SUNTRUST HOME DEVELOPERS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2020 AND 2019 (Amounts in Philippine Pesos)

Six months ended June 30,

2020 2019 (Unaudited) (Unaudited)

REVENUES
Management fees	-
Rental income	-
Service income	-
	-
COSTS AND EXPENSES
Cost of services	-
Operating expenses	26,802,973
Finance costs	-
Tax expense	419,299
	27,222,272
OTHER (LOSS) INCOME
Unrealized foreign exchange loss	(17,677,007)
Finance and other income	2,096,540
Equity in net earnings of an associate	5,832,241
	(9,748,226)
NET (LOSS) PROFIT	(36,970,498)
(Loss) Earnings Per Share -
Basic and Diluted	(0.0051)

257,525,953

17,999,105

9,636,931

285,161,989

177,353,257

75,434,091

3,120,384

13,922,732

269,830,464

-

11,156,327

-

11,156,327

26,487,852

0.0118

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SUNTRUST HOME DEVELOPERS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

JUNE 30, 2020 AND DECEMBER 31, 2019

(Amounts in Philippine Pesos)

		June 30,	December 31,
		2020		2019
		(Unaudited)	(Audited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	219,148,064		1,278,214,939
Trade and other receivables	24,812	75,596
Due from related parties	27,356,691	27,382,014
Other current assets - net	19,092,790	2,092,871
Total Current Assets	265,622,357		1,307,765,420
NON-CURRENT ASSETS
Interest in an associate	146,976,973		141,144,732
Deposits	3,287,362,993	-
Prepayments for non-current assets	390,644,540	-
Property and equipment - net		1,690,892	-
Total Non-current Assets		3,826,675,398		141,144,732
TOTAL ASSETS	4,092,297,755		1,448,910,152
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade and other payables	228,278,858		57,502,895
Due to related parties		22,813,608	-
TOTAL LIABILITIES		251,092,466		57,502,895
EQUITY	3,841,205,289		1,391,407,257
TOTAL LIABILITIES AND EQUITY	4,092,297,755		1,448,910,152

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By order of the Board

Suncity Group Holdings Limited

Chau Cheok Wa

Chairman

Hong Kong, 14 August 2020

As at the date of this announcement, the executive Directors are Mr. Chau Cheok Wa, Mr. Lo Kai Bong, Mr. Au Chung On John and Mr. Manuel Assis Da Silva; and the independent non-executive Directors are Mr. Tou Kin Chuen, Dr. Wu Kam Fun Roderick and Mr. Lo Wai Tung John

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