Quarterly Results announcement form Name of listed company :GREENCOOL TECHNOLOGY HOLDINGS LIMITED Stock code :8056 Year end date :31/12/2002 Auditors' report : Modified Qualified Unqualified X N/A Important Note : 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: RMB'000 (Unaudited) (Unaudited) Quarterly Results Announcement Current Last Corresponding Period Period from 01/01/2002 from 01/01/2001 to 30/06/2002 to 30/06/2001 RMB'000 RMB'000 Turnover : 197,440 228,871 Profit/(Loss) from Operations : 78,783 161,722 Finance cost : -2,576 -2,473 Share of Profit/(Loss) of Associates : 0 0 Share of Profit/(Loss) of Jointly Controlled Entites : 0 0 Profit/(Loss) after Taxation & MI : 71,751 149,138 % Change Over the Last Period : -51.89 % EPS / (LPS) - Basic : RMB7.18cents RMB14.91cents - Diluted : RMB7.17cents RMB14.63cents Extraordinary (ETD) Gain/(Loss) : 0 0 Profit (Loss) after ETD Items : 71,751 149,138 2nd Q Dividend per Share : NIL RMB5.3cents (specify if with other options) : N/A N/A B/C Dates for 2nd 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 : N/A B/C Dates for Other Distribution : N/A to N/A bdi. (bdi: both days inclusive) For and on behalf of Greencool Technology Holdings Limited Signature : Name :Mok Henry Wing Kai 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) Turnover from continuing operations and discontinued operations For the six months ended 30 June 2002 2001 RMB'000 RMB'000 Continuing Operations 197,440 228,871 Discontinued Operations 0 0 ------- ------- Total 197,440 228,871 ======= ======= Turnover of continuing operations comprised the followings: For the six months ended 30 June 2002 2001 RMB'000 RMB'000 Conversion engineering income 128,424 208,075 Sale of CFC-free refrigerants 69,016 20,796 ------- ------- 197,440 228,871 ======= ======= (2) Profit from continuing operations and discontinued operations For the six months ended 30 June 2002 2001 RMB'000 RMB'000 Continuing Operations 71,751 149,138 Discontinued Operations 0 0 ------- ------- Total 71,751 149,138 ======= ======= (3) Taxation Four group companies in PRC are subject to Enterprise Income Tax at a rate of 7.5%. Save as so disclosed, all other subsidiaries of the Group in PRC enjoy tax holidays. The Group had no income assessable under Hong Kong Profit Tax for the relevant periods. There was no material deferred taxation for the relevant periods. (4) Earnings per share ("EPS") The calculation of the basic and diluted earnings per share for the six months ended 30 June 2002 is based on the following data: Earnings: Net profit for the period and earnings for the purposes of basic and diluted earnings per share RMB71,751,000 ============= Number of shares: Weighted average number of shares for the 1,000,000,000 purpose of basic EPS Effect of dilutive potential shares: shares 577,712 options --------------- Weighted average number of shares for the purpose of diluted EPS 1,000,577,712 =============== (5) Dividends The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2002 [2001 - HK$0.05 per share (equivalent to RMB0.053 per share)].