OutlookNote 13 of the MD&A:
On March 13, 2014, the Corporation announced that it has sold its 13.2% interest in the Yangshan Logistics Park project as a part of the sale of the whole project to a new group of investors. The sale price for the whole Yangshan Logistics Park project is RMB239 million (approximately US$38.93 million). Grand Power’s portion of the sale price is RMB31.55 million (approximately US$5.139) for its 13.2% interest. Grand Power has invested a total of HK$13.2 million (approximately US$1.7 million) for its 13.2% interest in the project. In addition, on March 31, 2014, the Corporation announced that it has recently sold a piece of property bought for warehousing in Macau, PRC. The property was purchased for a cost of HK$14.46 million (approximately US$1.8 million) and sold for HK$16.50 million (approximately US$2.12 million). Once these transactions are completed, the Corporation would have made significant capital gain in the sale of these properties and has been evaluating the potential of diversifying its business into other sectors with higher potential for growth or capital appreciation.
Meanwhile, the Corporation will continue to focus in its core logistics business and will pursue the expanding its oversea agent network and direct sales business when opportunities arise.
So the balance sheet we have seen reflects the transactions not having yet been completed. Keep that in mind for future reports when they are complete a significant improvement in the cash position and probably some more benefits to the income statement will be shown.