Shentong Robot Education Group Company Limited announced its interim results for the six months ended 30 September 2016.

For the six months ended 30 September 2016, the Group recorded consolidated revenue of approximately HK$42,600,000, a significant increase of 155.3% compared to the same period last year, mainly attributable to the organisation of China Robot Competition (“CRC”) and relevant education and training courses in Heilongjiang Province (the “CRC Business”) upon the completion of the acquisition on 16 May 2016. Loss attributable to owners of the Company during the period significantly decreased to approximately HK$1,949,000 (1H 2015/16: loss of approximately HK$8,425,000). The adjusted profit attributable to owners of the Company was approximately HK$500,000 for the period, excluding professional fees incurred for the related share purchase of the acquisition. In the four and a half months after the completion of the acquisition, the CRC Business has already made revenue contributions to the Group. Profit before tax from the CRC Business was approximately HK$10,976,000 during the period, reflecting its strong growth potential. In addition, the Group changed its name to “Shentong Robot Education Group Company Limited”, with the view to better benefit the Group’s development, and catering to the new CRC Business and new corporate image.

Mr. He Chenguang, Chairman of the Company Limited, said, “The CRC Business is an important part of the Group’s development strategy, while also demonstrating the achievement of our efforts in tapping the new business. We are glad that the CRC Business has already made revenue contributions to our interim results in four and a half months after the acquisition, and recorded a continuous growth momentum. Looking ahead to the second half of the fiscal year, we will further grasp the market potential of robot sports to introduce more CRC competitions and strengthen the promotion of competitions, in order to further develop CRC training courses business. In the year ahead, the Group will further consolidate the development of its CRC Business through the organisation of various CRC competitions, which will effectively enhance the reputation and popularity of robot sports and relevant trainings in Heilongjiang Province, as well as increase the number of participants in CRC training courses and competitions, so as to strengthen the Group’s business development.”