Source - RNS
RNS Number : 4313K
Walcom Group Limited
21 September 2016
 

21 September 2016

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")

 

WALCOM GROUP LIMITED

("Walcom" or the "Company")

 

Half-yearly results for the six months ended 30 June 2016

 

Walcom is pleased today to announce its interim results for the six months ended 30 June 2016. These results are also available from the Company's website at www.walcomgroup.com

 

 

Further enquiries:

 

Walcom Group Limited

Francis Chi (Chief Executive Officer)

Albert Wong (Chief Financial Officer)

 

+852 2494 0133

Allenby Capital Limited

David Hart

 

+44 20 3328 5656

 

 

CHAIRMAN'S STATEMENT

 

Introduction

 

The growth in the PRC economy remained slow during the first six months of the year and the performance of the pig farming industry did not improve during the same period. However, the Company was able to increase its revenue by 7 per cent. compared with the same period last year.  Despite the adverse exchange impact of the Renminbi and Thai Baht during this financial period and the continuing increase in production costs and operating expenses, the Company incurred a smaller loss per share for the period of HK$2.46 cents compared with a loss per share of HK$2.81 cents in the same period last year, showing an improvement of 13 per cent.

 

Results for the Period

 

The Company generated revenues of HK$20.7 million during the period (June 2015: HK$19.3 million) and gross profits of HK$11.7 million (June 2015: HK$12.1 million), representing an increase of 7 per cent. and a decrease of 3 per cent., respectively, compared with the same period last year.  The gross profit margin reduced to 56.5 per cent. (June 2015: 62.6 per cent.) owing to the aggregate impact of the devaluation of Renminbi and Thai Baht, which had significant adverse effect on the sales made in these two currencies, and the escalated production costs, in particular raw materials, labour and rental expenses.  Notwithstanding the above unfavourable factors, the Company reduced its net loss by 8 per cent. to HK$1.69 million (June 2015: loss of HK$1.83 million) and incurred a loss of HK$1.12 million at the EBITDA level, a decrease of 20 per cent. over the same period last year (June 2015: HK$1.40 million).

 

Review of Activities and Market

 

Despite the weakened Renminbi, but as a result of increase in sales quantity, during the six months to 30 June 2016, the sales turnover in the PRC increased by 13 per cent. to HK$11.8 million as compared to the same period last year (June 2015: HK$10.5 million) while overseas sales were maintained at HK$8.9 million, approximately the same level as last year (June 2015: HK$8.8 million).

 

Although the pig farm gate price in China began to rise in April 2015 and remained at a comparatively high level during the first 6 months of 2016, the demand for feedstuff remained weak as the number of farmed pigs remained low as a result of the large number of discontinued pig farms during 2014. The Board estimated last year that it would take some time for pig numbers to return to their previous level and this is still the situation at the moment.  The animal feed market has not yet fully recovered and this in turn has affected the operating results of the Company.

 

The Company's overseas sales were maintained at about the same level as last year.  Sales in Thailand in terms of quantity remained the same as last year. However, owing to the weakened Thai Baht and lower average unit selling price in Thailand, the Thai sales reported in Hong Kong Dollars were 9% less than last year (June 2016: 7.3 million; June 2015: 8.0 million).

 

Sales in Korea recovered during the period under review and sales increased by 188 per cent. to HK$1.6 million (June 2015: HK$0.5 million).

 

Acquisition of Land in Thailand

 

Further to the Company's announcement made on 21 July 2016, the acquisition of the land in Thailand for the purpose of developing a feed manufacturing plant is expected to be completed in November this year.  In view of the growth of sales of the Company's products in the Association of Southeast Asian Nations Economic Communities ("AEC") in the coming years, the Directors are optimistic that the building of a manufacturing plant in Thailand, which is an AEC country, should offer beneficial trading terms for the Company due to the region's trade treaties.

 

Outlook

 

The ongoing structural transformation of the Chinese economy has resulted in a slower growth in the economy in the past two years.  The consumer market has been inevitably affected, which has had a negative impact on the Company's sales in the PRC market.  However, efforts are being made in exploring new markets in the AEC region and to increase the Company's portfolio of customers with some encouraging results and the Directors are confident that this will result in improved sales in the overseas market.  In view of the coming high sales season of the Company's products in the PRC market and the expected growth in the Asian markets in the second half of the year, the Directors are cautiously optimistic in the overall performance of the Company in the year 2016.

 

 

Frankie Y. L. Wong

Chairman

21 September 2016

 



WALCOM GROUP LIMITED

 

UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

 

FOR THE SIX MONTHS ENDED 30 JUNE 2016

 


Note


Unaudited
six months
ended
30 June 201
6


Unaudited
six months
ended
30 June 2015


 

Audited
year ended

31 December 2015




HK$


HK$


HK$









Revenue

3


20,693,043


19,300,594


44,236,805









Cost of sales



(8,994,822)


(7,225,298)


(17,491,561)









Gross profit



11,698,221


12,075,296


26,745,244









Other income

4


13,173


23,636


189,853









Research and development expenses



(804,635)


(765,946)


(1,224,261)









Selling and distribution expenses



(5,496,572)


(5,879,720)


(11,847,110)









General and administrative expenses



(6,825,912)


(7,196,273)


(12,055,434)









(Loss) / profit from operations

5


(1,415,725)


(1,743,007)


1,808,292









Net finance expenses

6


(31,507)


(16,713)


(21,123)









(Loss) / profit before income tax



(1,447,232)


(1,759,720)


1,787,169









Income tax expense

7


(240,916)


(74,906)


(1,308,485)









(Loss) / profit for the period / year



(1,688,148)


(1,834,626)


478,684

















(Loss) / profit attributable to:








Owners of the Company



(1,690,571)


(1,935,378)


335,472

Non-controlling interests



2,423


100,752


143,212









(Loss) / profit for the period / year



(1,688,148)


(1,834,626)


478,684









 

(Loss) / profit per share - basic, HK cents

 

8


 

(2.46)


 

(2.81)


 

0.49

- diluted, HK cents



(2.46)


(2.81)


0.49









 



WALCOM GROUP LIMITED

 

UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

 

FOR THE SIX MONTHS ENDED 30 JUNE 2016

 


Note


Unaudited
six months
ended
30 June 20
16


Unaudited
six months
ended
30 June 2015


 

Audited
year ended

31 December 2015




HK$


HK$


HK$









(Loss) / profit for the period / year



(1,688,148)


(1,834,626)


478,684









Other comprehensive income








Exchange difference on translation of








  financial statements of overseas subsidiaries



(669,340)


(39,315)


(2,793,995)









Total comprehensive loss








   for the period / year



(2,357,488)


(1,873,941)


(2,315,311)

















Total comprehensive loss








   attributable to:








Owners of the Company



(2,419,944)


(1,951,302)


(2,262,139)

Non-controlling interests



62,456


77,361


(53,172)









Total comprehensive loss








   for the period / year



(2,357,488)


(1,873,941)


(2,315,311)



WALCOM GROUP LIMITED

 

UNAUDITED CONSOLIDATED BALANCE SHEET

 

AT 30 JUNE 2016

 


Note


Unaudited
30 June 201
6


Unaudited
30 June 201
5


Audited

31 December 2015




HK$


HK$


HK$

ASSETS
















NON-CURRENT ASSETS








Property, plant and equipment



1,383,334


1,755,065


1,520,698

Patents



1,946,865


2,212,403


2,079,634

Goodwill



-


-


-




3,330,199


3,967,468


3,600,332









CURRENT ASSETS








Inventories



1,759,975


2,947,561


2,247,884

Trade and other receivables

10


7,475,382


6,475,343


7,804,291

Cash and cash equivalents

Restricted cash

11

11


11,428,764

106,794


13,606,316

112,228


13,670,351

103,813




20,770,915


23,141,448


23,826,339









TOTAL ASSETS



24,101,114


27,108,916


27,426,671

















EQUITY AND LIABILITIES
















EQUITY








Share capital

12


688,344


688,344


688,344

Reserves



14,120,209


16,850,990


16,540,153

TOTAL EQUITY ATTRIBUTABLE TO

  OWNERS OF THE COMPANY



 

14,808,553


 

17,539,334


 

17,228,497

Non-controlling interests



2,149,051


2,217,128


2,086,595

TOTAL EQUITY



16,957,604


19,756,462


19,315,092









CURRENT LIABILITIES








Trade and other payables

13


4,561,715


4,743,853


4,954,919

Tax payables



241,793


72,461


769,455

Bank borrowings

14


2,340,002


2,536,140


2,387,205




7,143,510


7,352,454


8,111,579

 

TOTAL LIABILITIES



 

7,143,510


 

7,352,454


 

8,111,579









TOTAL EQUITY AND LIABILITIES



24,101,114


27,108,916


27,426,671









NET CURRENT ASSETS



 13,627,405


 15,788,994

 

15,714,760









TOTAL ASSETS

  LESS CURRENT LIABILITIES



16,957,604


19,756,462


19,315,092

 


WALCOM GROUP LIMITED

 

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

 

FOR THE SIX MONTHS ENDED 30 JUNE 2016

 








Share-based










Non-




Share


Share


Merger


compensation


Exchange


Surplus


Accumulated




controlling


Total


capital


premium


reserve


reserve


reserve


reserve


losses


Total


interests


equity


HK$


HK$


HK$


HK$


HK$


HK$


HK$


HK$


HK$


HK$





















At 1 January 2015

688,344


95,298,644


23,852,469


1,591,595


2,823,136


2,923,514


(107,687,066)


19,490,636


2,139,767


21,630,403





















Comprehensive loss




















Loss for the period

-


-


-


-


-


-


(1,935,378)


(1,935,378)


100,752


(1,834,626)





















Other comprehensive income




















Exchange difference on translation of




















financial statements of overseas subsidiaries

-


-


-


-


(15,924)


-


-


(15,924)


(23,391)


(39,315)





















Total comprehensive loss for the period

-


-


-


-


(15,924)


-


(1,935,378)


(1,951,302)


77,361


(1,873,941)





















Lapse of share option

-


-


-


(22,826)


-


-


22,826


-


-


-





















At 30 June 2015

688,344


95,298,644


23,852,469


1,568,769


2,807,212


2,923,514


(109,599,618)


17,539,334


2,217,128


19,756,462









































At 1 January 2016

688,344


95,298,644


23,852,469


1,568,769


225,525


3,263,694


(107,668,948)


17,228,497


2,086,595


19,315,092





















Comprehensive loss




















Loss for the period

-


-


-


-


-


-


(1,690,571)


(1,690,571)


2,423


(1,688,148)





















Other comprehensive income




















Exchange difference on translation of




















financial statements of overseas subsidiaries

-


-


-


-


(729,373)


-


-


(729,373)


60,033


(669,340)





















Total comprehensive loss for the period

-


-


-


-


(729,373)


-


(1,690,571)


(2,419,944)


62,456


(2,357,488)





















Lapse of share options

-


-


-


-


-


-


-


-


-


-





















At 30 June 2016

688,344


95,298,644


23,852,469


1,568,769


(503,848)


3,263,694


(109,359,519)


14,808,553


2,149,051


16,957,604


WALCOM GROUP LIMITED

 

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS

 

FOR THE SIX MONTHS ENDED 30 JUNE 2016

 


Note


Unaudited
six months
ended
30 June 201
6


Unaudited
six months
ended
30 June 201
5


 

Audited
year ended 

31 December 2015




HK$


HK$


HK$

Cash flow from operating activities








(Loss) / profit before income tax



(1,447,232)


(1,759,720)


1,787,169

Amortisation of patents



132,769


132,769


265,538

Depreciation



151,229


164,288


308,255

Foreign exchange loss / (gain), net



(685,765)


121,469


(1,547,782)

Interest received



(36,618)


(83,077)


(150,719)

Interest paid



68,125


99,790


171,842

Loss on disposal of property, plant and equipment



3,419


1,517


1,517

Patents written off



-


40,749


40,749









Operating (loss)/ profit before








   working capital changes



(1,814,073)


(1,282,215)


876,569

Decrease / (increase) in inventories



487,909


(604,040)


95,637

Decrease in trade and other receivables



328,909


1,479,387


101,432

Decrease in trade and other payables



(393,204)


(464,545)


(253,479)









Net cash (used in) / generated from operations



(1,390,459)


(871,413)


820,159

Corporate income tax paid



(768,579)


(525,086)


(1,012,664)

Interest paid



(68,125)


(99,790)


(171,842)

 

Net cash used in operating activities



 

(2,227,163)


 

(1,496,289)


 

(364,347)









Cash flow from investing activities








Purchase of property, plant and equipment



(9,768)


(59,458)


(91,237)

Interest received



36,618


83,077


150,719

Net cash generated from investing activities



26,850


23,619


59,482









Cash flow from financing activities








Repayment of bank borrowings



-


-


(2,535,176)

Proceeds from new bank borrowings



-


-


2,387,205

(Increase) / decrease in restricted bank balance



(2,981)


-


9,537

Net cash used in financing activities



(2,981)


-


(138,434)









Net decrease in cash and cash equivalents



(2,203,294)


(1,472,670)


(443,299)









Cash and cash equivalents at the beginning of the period / year



13,670,351


15,229,576


15,229,576









Exchange loss on cash and cash equivalents



(38,293)


(150,590)


(1,115,926)









Cash and cash equivalents at the end of the period / year

11


11,428,764


13,606,316


13,670,351

 



WALCOM GROUP LIMITED

 

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

 

FOR THE SIX MONTHS ENDED 30 JUNE 2016

 

 

(1)     BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES

 

The unaudited consolidated financial statements have been prepared using accounting policies consistent with International Financial Reporting Standards and in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting.

 

The unaudited consolidated financial statements have been prepared under the historical cost convention. The same accounting policies, presentation and methods of computation are followed in these unaudited consolidated financial statements as were applied in the preparation of the group's financial statements for the year ended 31 December 2015.

 

 

(2)     SEGMENT REPORTING

 

(a)          Primary reporting format - Geographical Segment

 

The Group's operations are mainly located in Hong Kong, PRC and Thailand. The Group's sales revenue by geographical location of customers are analysed as follows:

 

 

Unaudited
six months
ended
30 June 201
6


Unaudited
six months
ended
30 June 201
5


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$


 

 

 

 

 

PRC

11,824,924

 

10,461,572

 

25,690,774

Thailand

7,289,399

 

8,033,999

 

16,181,009

Others

1,578,720

 

805,023

 

2,365,022

 

20,693,043

 

19,300,594

 

44,236,805

 

(b)          Secondary reporting format - Business Segment

 

The Group is principally engaged in the manufacture, distribution and sale of chemical feed and additive products. All of the Group's products are of a similar nature and subject to similar risk and returns. Accordingly, the Group's activities are attributable to a single business segment and no business segment analysis is presented.

 

          (c)  Segment assets by geographical location of assets

 

 

Unaudited
six months
ended
30 June 20
16


Unaudited
six months
ended
30 June 201
5


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

PRC

14,446,142

 

17,048,481

 

17,061,384

Thailand

3,454,609

 

6,766,308

 

6,932,584

Hong Kong

4,253,498

 

1,081,724

 

1,708,878

Others

1,946,865

 

2,212,403

 

1,723,825

 

24,101,114

 

27,108,916

 

27,426,671

 

 

(3)     REVENUE

 

Revenue represents the sales value of goods supplied to the customers less returns, discounts, value added tax and sales taxes.

 

 

(4)     OTHER INCOME

 

 

Unaudited
six months
ended
30 June 201
6


Unaudited
six months
ended
30 June 20
15


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

Government subsidy

-

 

-

 

162,172

Sundry income

13,173

 

23,636

 

27,681

 

 

23,636

 

189,853

 

 

(5)     OPERATING (LOSS) / PROFIT

 

Operating (loss) / profit is stated after charging the following items:-

 

 

Unaudited
six months
ended
30 June 201
6


Unaudited
six months
ended
30 June 201
5


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

Amortisation of patents

132,769

 

132,769

 

265,538

Auditor's remuneration

180,879

 

160,000

 

307,474

Cost of inventories

8,426,009


6,851,910

 

16,623,712

Depreciation

107,795


164,288

 

225,969

Patents written off

-

 

40,749

 

-

 

Loss on disposal of property, plant and equipment

 

3,419

 

 

1,517

 

 

1,517

Rental charges under operating leases

 in respect of land and buildings

 

442,955

 

 

450,768

 

 

920,080

Staff costs

 (including directors' emoluments)

 

 

 

 

 

- wages and salaries

5,664,518

 

5,870,287

 

10,718,322

- contributions to retirement benefits

425,378

 

449,760

 

899,111

- share-based compensation

-

 

-

 

-

- other staff benefits

1,684,273

 

1,884,071

 

3,549,183

 

 

(6)     NET FINANCE (EXPENSES)/ INCOME

 

 

Unaudited
six months
ended

 30 June 2016


Unaudited
six months
ended
30 June 201
5


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$







Bank interest income

36,618

 

83,077

 

150,719

Interest expense on bank loans

(68,125)

 

(99,790)

 

(171,842)

 

(31,507)

 

(16,713)

 

(21,123)

 

 

(7)     INCOME TAX EXPENSE

 

No provision for Hong Kong Profits Tax has been made (June 2015: HK$nil; 2015: HK$nil) as the Group's assessable profit subject to Hong Kong profits tax for the period is fully set-off by tax loss brought forward from last year.

 

Taxation on overseas profits has been calculated on the estimated assessable profit for the period/year at the rate of taxation prevailing in the countries in which the Group companies operate. The overseas income tax provided for the six months ended 30 June 2016 is HK$240,916 (June 2015: HK$74,906; 2015: HK$1,308,485).

 

 

(8)     LOSS PER SHARE

 

The calculation of the basic loss per share for the six months ended 30 June 2016, is based on the loss attributable to ordinary equity shareholders of the company of HK$1,690,571 (June 2015: HK$1,935,378; 2015: Profit HK$333,473) during the period and the weighted average number of 68,834,388 ordinary shares (June 2015: 68,834,388; 2015: 68,834,388) in issue during the period/year. No diluted loss per share is to be reported for the period/year.

 

 

(9)     DIVIDENDS

 

No payment of dividend was recommended for the first six months of 2016 (June 2015: HK$ nil; 2015: HK$nil).

 

 

(10)   TRADE AND OTHER RECEIVABLES

 

 

Unaudited
 30 June 201
6


Unaudited
 30 June 201
5


Audited
31 December 201
5

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

Trade receivables

6,880,895

 

5,723,317

 

6,859,583

Less: provision for impairment loss

(508,758)

 

(508,758)

 

(508,758)

 

6,372,137

 

5,214,559

 

6,350,825

Other receivables

229,745

 

126,431

 

476,875

Prepayments and deposits

873,500

 

1,134,353

 

976,591

 

7,475,382

 

6,475,343

 

7,804,291

 

(a)          All trade and other receivables, are expected to be recovered within one year.

 

(b)          Impairment of trade receivables

 

The movement in the provision of impairment for doubtful debts during the period/year, including both specific and collective loss components, is as follows:

 


Unaudited
 six months ended

30 June 2016


Unaudited
 six months

ended

30 June 2015


 

Audited
 year ended

31 December 2015


HK$


HK$


HK$







At 1 January

508,758


508,758


508,758

Written off

-


-


-

Exchange difference

-


-


-

At 30 June/31 December

508,758


508,758


508,758

 

At 30 June 2016, the Group's trade receivables of HK$508,758 (June 2015: HK$508,758, 2015: HK$508,758) have been outstanding for a certain period of time. The management assessed that only a portion of the receivables is expected to be recoverable.  Consequently, specific allowance for doubtful debts was recognised for the individually impaired receivables. 

 

The Group does not hold any collateral over these balances.

           

 

(11)   CASH AND CASH EQUIVALENTS

 


Unaudited
 30 June 201
6


Unaudited
 30 June 201
5


Audited

31 December 2015


HK$


HK$


HK$







Cash at bank and on hand

11,535,558


13,718,544


13,774,164

Less: Cash at bank - restricted

 

(106,794)


 

(112,228)


 

(103,813)

Cash and cash equivalents

in the cash flow statement

 

11,428,764


 

13,606,316


 

13,670,351

 

 

(12)   SHARE CAPITAL

 

 

Unaudited
 30 June 201
6


Unaudited
 30 June 201
5


Audited
 31 December 201
5

 

HK$

 

HK$

 

HK$

Authorised

 

 

 

 

 

      150,000,000 (June 2015: 150,000,000 and Dec 2015: 150,000,000) ordinary shares of HK$0.01 each

 

 

1,500,000

 

 

 

1,500,000

 

 

 

1,500,000

 

 

 

 

 

 

Issued and fully paid

 

 

 

 

 

      68,834,388 (June 2015: 68,834,388 and

      Dec 2015: 68,834,388) ordinary

      shares of HK$0.01 each

 

 

688,344

 

 

 

688,344

 

 

 

688,344

 

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.  All ordinary shares rank equally with regard to the Company's residual assets.

 

 

(13)   TRADE AND OTHER PAYABLES

 

 

Unaudited
 30 June 201
6


Unaudited
 30 June 201
5


Audited
31 December 201
5

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

Trade payables

1,416,707

 

1,043,738

 

1,792,619

Other payables and accrued expenses

3,145,008

 

3,700,115

 

3,162,300

 

4,561,715

 

4,743,853

 

4,954,919

 

All of the trade and other payables are expected to be settled within one year.

 

 

(14)  BANK BORROWINGS

 



Unaudited
 30 June 201
6


Unaudited
 30 June 201
5


Audited
 31 December 201
5



HK$


HK$


HK$








Current







Bank borrowings, unsecured

(a)

2,340,002


2,536,140


2,387,205








 

(a)  The effective interest rate per annum for bank borrowings at balance sheet date is at 5.7% (June 2015: 7.8%, 2015: 5.7%) per annum.

 

 

(15)   RELATED PARTY TRANSACTIONS

 


Unaudited
 six months ended

30 June 2016


Unaudited
 six months ended

30 June 2015


 

Audited
 year ended

31 December 2015


HK$


HK$


HK$

Related companies






Legal and professional fees paid

-


-


111,369

 

 

(16)     RECONCILIATION OF (LOSS) / PROFIT BEFORE INCOME TAX TO EBITDA

 

 

 

 Unaudited
six months
ended

30 June 2016


  Unaudited
six months
ended

30 June 2015


 

Audited
year ended

31 December 2015

 

HK$

 

HK$

 

HK$

 

 

 

 

 

 

(Loss) / profit before income tax

(1,447,232)

 

(1,759,720)

 

1,787,169

Depreciation

151,229

 

164,288

 

308,255

Amortisation of patents

132,769

 

132,769

 

265,538

Interest income

(36,618)

 

(83,077)

 

(150,719)

Interest expenses

68,125

 

99,790

 

171,842

Patents written off

-

 

40,749

 

40,749

Loss on disposal of property, plant and equipment

 

3,419

 

 

1,517

 

 

1,517

EBITDA

(1,128,308)


(1,403,684)

 

2,424,351

 

EBITDA is defined herein as earnings before depreciation, amortization, interest and tax, plus specific charges which are considered non-recurring in nature. Specific charges include impairment loss in value and gain/loss in disposal of non-current assets, and amortization of fair value of share-based compensation. EBITDA is not a recognised term under generally accepted accounting principles and does not purport to be an alternative to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Because not all companies use identical calculations, this presentation may not be comparable to other similarly titled measures of other companies.

 

 

WALCOM GROUP LIMITED

Part D, Mingtai Bldg.

No.351 Guo Shou Jing Road, ZJ Hi-tech Park

Shanghai 201203, China

Tel: +86 21 5027 6567 / +86 21 5027 3720 ext 111

Fax: +86 21 5027 3767

 

Email: [email protected]

Website: www.walcomgroup.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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