Key Developments: New Focus Auto Tech Holdings Ltd (0360.HK)

0360.HK on Hong Kong Stock

0.55HKD
11 Jul 2014
Price Change (% chg)

HK$0.02 (+3.77%)
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Latest Key Developments (Source: Significant Developments)

New Focus Auto Tech Holdings Ltd comments on FY 2013 earnings guidance
Friday, 28 Feb 2014 08:00am EST 

New Focus Auto Tech Holdings Ltd:Says that it expects to record a increase in net loss for FY 2013 as compared to that for FY 2012.  Full Article

New Focus Auto Tech Holdings Ltd announces change of financial reporting standards and termination of appointment of auditors in Taiwan
Wednesday, 29 Jan 2014 04:21am EST 

New Focus Auto Tech Holdings Ltd:Says the company and its subsidiaries have adopted the International Financial Reporting Standards (IFRSs), changing from the Hong Kong Financial Reporting Standards (HKFRSs), in the preparation of financial statements to be presented in the annual report for the FY 2013.Says as the adoption of IFRSs renders the appointment of auditors in Taiwan by the company unnecessary.Says it has terminated the appointment of PwC Taiwan as its auditors in Taiwan with effect from the date of this announcement.  Full Article

New Focus Auto Tech Holdings Ltd updates on equity transfer agreement in relation to acquisition of 51 pct equity interest in Changchun Guangda
Wednesday, 29 Jan 2014 04:04am EST 

New Focus Auto Tech Holdings Ltd:Refers to the announcement made on July, 17, 2012, in relation to the acquisition of 51 pct equity interest in Changchun Guangda.Says the company and the vendor entered into a supplemental agreement with effect from Jan. 29 to amend the terms of the equity transfer agreement.Says the amendments include the change of payment terms and the inclusion of additional guarantee of future performance of Changchun Guangda by the Vendor.Says for this purpose, equity interest as Collateral will be transferred to the designated subsidiary of the company by the Vendor to secure the performance of her guarantee.Says Changchun Guangda is a 51 pct-owned subsidiary of the company.Says the vendor, being a substantial shareholder of Changchun Guangda, is therefore a connected person of the company.Says pursuant to the supplemental agreement, 46,300,000 yuan will be satisfied by way of cash within 10 business days after the completion of industry and commerce registration.Says and 20,000,000 yuan will be satisfied by way of cash within 10 business days after the issue of Audited Report of 2014 if it determines that the Audited Net Profit After Taxation of 2014 reaches 26,000,000 yuan.Says upon the completion of transfer of equity interest as Collateral, the equity interest in Changchun Guangda owned by the company will be increased from 51 pct to 61 pct.  Full Article

New Focus Auto Tech Holdings Ltd Does Not Recommend Interim Dividend
Friday, 30 Aug 2013 09:09am EDT 

New Focus Auto Tech Holdings Ltd announced that the directors do not recommend the payment of an interim dividend for the six months ended June 30, 2013 (June 30, 2012: Nil).  Full Article

New Focus Auto Tech Holdings Ltd Recommends Final Dividend
Wednesday, 27 Mar 2013 06:51pm EDT 

New Focus Auto Tech Holdings Ltd announced that the Board of Directors did not recommend the payment of a final dividend for the year ended December 31, 2012 (2011: RMB Nil).  Full Article

New Focus Auto Tech Holdings Ltd And Hubei Autoboom Vendors Enters Into Supplemental Agreement To Amend Terms Of Hubei Autoboom Equity Transfer Agreement
Monday, 18 Feb 2013 05:06am EST 

New Focus Auto Tech Holdings Ltd announced with reference to the announcement made earlier, where in the Company and the Hubei Autoboom Vendors entered into the Hubei Autoboom Equity Transfer Agreement whereby the Hubei Autoboom Vendors agreed to transfer their 51% equity interest in Hubei Autoboom to the Company at a initial consideration of RMB87,258,450, subject to adjustment by an amount equals to the difference between the initial consideration and the Formula Amount. The Company now announced that on February 18, 2013, the Company and the Hubei Autoboom Vendors entered into a supplemental agreement to amend the terms of the Hubei Autoboom Equity Transfer Agreement, including the payment method. A total of 29,749,744 new Shares will be issued at the Issue Price as part of the consideration for the Hubei Autoboom Acquisition. The Issue Price of HK$0.98 represents: a premium of approximately 12.64% to the closing price of HKD0.87 per Share as quoted on the Stock Exchange on the Last Trading Day; and a premium of approximately 7.69% to the average of the closing prices per Share of HKD0.91 as quoted on the Stock Exchange for the last five consecutive trading days prior to the Last Trading Day. The Consideration Shares, when allotted, issued and fully paid, will rank pari passu in all respects among themselves and with the Shares in issue on the date of allotment and issue of the Consideration Shares.  Full Article

New Focus Auto Tech Holdings Ltd's Shanghai New Focus Repair Auto Services Co. Limited Enters Into Strategic Partnership Agreement With British Petroleum Group's Castrol (Shenzhen) Co. Limited
Sunday, 27 Jan 2013 05:44am EST 

New Focus Auto Tech Holdings Ltd announced that Shanghai New Focus Repair Auto Services Co. Limited (Shanghai New Focus), a wholly-owned subsidiary of the Company, entered into a three year Strategic Partnership Agreement (the Partnership Agreement) with Castrol (Shenzhen) Co. Limited (Castrol), a wholly-owned subsidiary of British Petroleum Group. According to the Partnership Agreement, a series of strategic partnerships will be implemented by Shanghai New Focus and Castrol. The parties will work together to create a "Castrol" Branded Oil Change station throughout various service & retail outlets of Shanghai New Focus. Shanghai New Focus will initially designate all of its China Southern & NFA-RT Mart stores to Castrol Partnership, or approximately 30% of its total more than 100 stores. In return, Castrol will provide to these stores multiple oil gun & oil change equipments, in-store marketing collateral, and most favourable pricing to customers of Shanghai New Focus. Shanghai New Focus also agreed to designate no less than 70% of the total motor oil retail floor space to selling of Castrol Motor oil. It is expected more stores of Shanghai New Focus and its subsidiaries will be covered by the strategic cooperation between the parties.  Full Article

New Focus Auto Tech Holdings Ltd Comments On FY 2012 Profit Guidance
Friday, 25 Jan 2013 05:22am EST 

New Focus Auto Tech Holdings Ltd announced that the Group expects to record an extraordinary loss for fiscal 2012 as compared to a profit for fiscal 2011. This extraordinary loss was mainly attributable to the writing-off of goodwill arising from the decrease in the profit generated by, and therefore reduction in the valuation of, the Group’s subsidiaries engaging in wholesale service business that were acquired in 2010 and 2011, additional expenses incurred by the Group in the transformation of its retail service channel, cost of integrating various subsidiaries of the Group and the sluggish global economy for fiscal 2012.  Full Article

New Focus Auto Tech Holdings Ltd Receives Licence Agreement With Michelin In Relation To Michelin Trademarks
Tuesday, 22 Jan 2013 05:17am EST 

New Focus Auto Tech Holdings Ltd announced that its wholly owned subsidiary New Focus Lighting & Power Technology (Shanghai) Co Ltd has entered into a three year exclusive trademarks license agreement with Michelin Lifestyle Ltd, a member of the Michelin Group. According to the License Agreement, New Focus Lighting & Power will be granted the right to use the Michelin trademarks on auto accessories including Car Mats, Front Sunshades, Steering Wheel Covers, Head Rest Covers, Seat Covers, Cushions, Blankets, Multi Holders, Sun Visor Pockets, Tissue Paper Holders, Seat Belt Pads, Lumbar Back Supports, HID/LED Halogen Lights, AC/DC Converters, Battery Chargers, Cold and Warmer Boxes, Vacuum Cleaners, Car polishers, Tyre gauges, Jump Starter Series and Multi-Functional Power Packs, Emergency Kits and Booster Cables, Snow Chains and Car Wax in the People’s Republic of China (PRC) for three years term expiring on March 31, 2016 for royalties payable by New Focus Lighting and Power to Michelin Lifestyle based on the revenue generated from the sale of licensed products. Under the License Agreement, New Focus Lighting & Power will be responsible for product development, promotional planning, sales, distribution and after-sales services to the China market. All licensed products will be distributed through the Group's more than 100 directly-owned service retail chains, its cross-region wholesale channels throughout the PRC and also through other retail stores.  Full Article

New Focus Auto Tech Holdings Ltd Does Not Recommend Interim Dividend
Thursday, 30 Aug 2012 07:50am EDT 

New Focus Auto Tech Holdings Ltd announced that the directors do not recommend the payment of an interim dividend for the six months ended June 30, 2012 (June 30, 2011: RMBNil).  Full Article

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