Plastec Technologies Reports Fiscal 2020 Financial Results
Plastec Technologies, Ltd. (OTCBB: PLTYF) reported its audited financial results for the fiscal year ended December 31, 2020. The company held $22.2 million in working capital, slightly down from $22.6 million in 2019. The book value per share decreased to $1.72 from $1.76 year-over-year. Chairman Kin Sun Sze-To emphasized maintaining the company’s public listing status and a low expense structure to ensure readiness for future investment opportunities. However, the results contain forward-looking statements with significant risks that may affect actual outcomes.
- Maintained public company listing status for future investment opportunities.
- Retained financial flexibility with a low expense infrastructure.
- Decline in working capital from $22.6 million in 2019 to $22.2 million in 2020.
- Decrease in book value per share from $1.76 in 2019 to $1.72 in 2020.
Plastec Technologies, Ltd. (OTCBB: PLTYF) (the “Company”) today reported audited financial results for the fiscal 2020 year ended December 31, 2020. See financial tables at the end of this release in Hong Kong dollars (HKD). All other amounts in this press release are presented in U.S. dollars (USD) with a conversion rate of US
Current Balance Sheet Highlights
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$22.2 million in workingcapital at December 31, 2020, compared to$22.6million at December 31, 2019. -
Book value per share was
$1.72 at December 31, 2020, compared to$1.76 at December 31, 2019.
Management Comments
Mr. Kin Sun Sze-To, Chairman of the Company, stated, “Throughout the year, the Company has continued to maintain its public company listing status in order to evaluate potential investments in the future. We have maintained a low expense infrastructure while retaining the financial flexibility to take advantages of any opportunities that may arise.”
Forward Looking Statements
This press release contains “forward-looking statements.” These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.
PLASTEC TECHNOLOGIES, LTD. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated) |
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FAQ
What were the financial results of Plastec Technologies (PLTYF) for 2020?
Plastec Technologies reported a working capital of $22.2 million and a book value per share of $1.72 for the fiscal year ended December 31, 2020.
How did Plastec Technologies' working capital change from 2019 to 2020?
The working capital decreased from $22.6 million in 2019 to $22.2 million in 2020.
What was the book value per share for Plastec Technologies in 2020?
The book value per share for Plastec Technologies was $1.72 at the end of 2020, down from $1.76 in 2019.
Are there any forward-looking statements in Plastec Technologies' 2020 results?
Yes, the press release includes forward-looking statements that involve significant risks and uncertainties, which may affect actual results.
PLASTEC TECHNOLOGIES ORD
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