Quarterly Results announcement form Name of listed company : AKuP International Holding Limited Stock code : 8179 Year end date : 31 December 2002 This result announcement form only contains extracted information from and should be read in conjunction with the detailed results announcement of the issuer, which can be viewed on the GEM website at http://www.hkgem.com Currency: HK$'000 Unaudited Unaudited Quarterly Results Announcement Current Last Corresponding Period Period from 01/01/2002 from 01/01/2001 to 31/03/2002 to 31/03/2001 HK$'000 HK$'000 Turnover : 5,726 6,887 Profit/(Loss) from Operations : 1,199 69 Finance cost : 0 4 Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entites : N/A N/A Profit/(Loss) after Taxation & MI 1,568 291 % Change Over the Last Period : 438.83 % EPS / (LPS) - Basic : 0.25 cents 0.06 cents - Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit (Loss) after ETD Items : 1,568 291 1st Q Dividend per Share : 0 0 (specify if with other options) : N/A N/A B/C Dates for 1st Q Dividend : N/A to N/A bdi. Payable Date : N/A B/C Dates for AGM/SGM : N/A to N/A bdi. Other Distribution for Current Period : Nil B/C Dates for Other Distribution : N/A to N/A bdi. (bdi: both days inclusive) For and on behalf of AKuP International Holding Limited Signature : Name : PAU Wai Lun, Willy Title : Company Secretary Responsibility statement The directors of the Company (the "Directors") as at the date hereof hereby collectively and individually accept full responsibility for the accuracy of the information contained in this results announcement form (the "Information") and confirm, having made all reasonable inquiries, that to the best of their knowledge and belief the Information are accurate and complete in all material respects and not misleading and that there are no other matters the omission of which would make the Information herein inaccurate or misleading.The Directors acknowledge that the Stock Exchange has no responsibility whatsoever with regard to the Information and undertake to indemnify the Exchange against all liability incurred and all losses suffered by the Exchange in connection with or relating to the Information. Remarks: 1 Group reorganisation and basis of presentation AKuP International Holding Limited (the "Company") was incorporated in the Cayman Islands on 14 June 2000 as an exempted company with limited liability under the Companies Law (Revised) of the Cayman Islands. The Company became the holding company of the Group on 29 October 2001 through a reorganisation (the "Reorganisation"). The financial information presented has been prepared in accordance with all applicable Statements of Standard Accounting Practice and Interpretations issued by the Hong Kong Society of Accountants, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. This financial information also complies with the applicable disclosure requirements of the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited. The Company and its subsidiaries (the "Group") resulting from the Reorganisation have been regarded as a continuing group. Accordingly the consolidated results have been prepared on the basis of merger accounting in accordance with the Statement of Standard Accounting Practice No. 2.127 "Accounting for Group Reconstructions". On this basis, the Company was the holding company of the Group for both periods presented, rather than from 29 October 2001. In the circumstances, the results of the Group for the periods ended 31 March 2001 and 2002 include the results of the Company and its subsidiaries with effect from 1 January 2001 or since their respective dates of incorporation whichever is a shorter period. In the opinion of the Directors, the resulting consolidated results give a more meaningful view of the results of the Group as a whole. The Company's shares were listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited on 5 November 2001. 2 Revenue Revenue represents income arising from the provision of custom-made solutions and consultancy services and the sale of hardware and software products. Revenue excludes value added or other sales taxes and is after deduction of any trade discounts. 3 Earnings per share (a) Basic earnings per share The calculation of basic earnings per share for the three months ended 31 March 2002 is based on the profit attributable to shareholders of $1,568,000 divided by 630,000,000 shares in issue during the period. The calculation of basic earnings per share for the three months ended 31 March 2001 is based on the profit attributable to shareholders of $291,000 divided by 513,000,000 shares in issue, immediately prior to the placing but after the capitalisation issue dated 4 November 2001. (b) Diluted earnings per share There were no potential dilutive ordinary shares in issue as at 31 March 2002 and 2001.