Brief: 51 Credit Card Says Co Unable To Carry Out Communication With Shouhui Kaizhuo

Vala

09/01/2023 10:32

Jan 9 (Reuters) - 51 Credit Card Inc  2051.HK :
    * SINCE 3 AUG, GROUP HAS BEEN UNABLE TO CARRY OUT WORKPLACE
COMMUNICATION WITH SHOUHUI KAIZHUO AND ITS UNIT
    * MANAGEMENT OF SK GROUP CEASED TO REPORT TO GROUP ON ANY
BUSINESS
MATTER
    * UNABLE TO ASCERTAIN OPERATIONAL STATUS AND FINANCIAL
SITUATION
OF SK GROUP
    * UNABLE TO EXERCISE ITS DECISION-MAKING RIGHTS OVER SK
GROUP
    * EXPECTS DECONSOLIDATION WILL HAVE A SIGNIFICANT IMPACT ON
CONSOLIDATED FINANCIAL STATEMENTS OF GROUP FOR YEAR
    * TO EXCLUDE FINANCIAL POSITION OF SK GROUP AS AT AND AFTER
3 AUG
2022 FROM CONSOL FINANCIAL STATEMENT OF GROUP FOR FY ENDED 31
DEC 2022
    * CONSIDERS THAT SK GROUP SHALL BE DECONSOLIDATED FROM GROUP
WITH
EFFECT FROM 3 AUG
    * ANNUAL AUDIT IS TAKING PLACE AND COMPANY IS IN COURSE OF
QUANTIFYING FINANCIAL IMPACT OF DECONSOLIDATION ON GROUP

Source text for Eikon:  ID:nHKS3yNhZD 
Further company coverage:  2051.HK 
 ((Reuters.Briefs@thomsonreuters.com;))