Techwayson Holdings Limited<08098> - Yearly Results Announcement TECHWAYSON HOLDINGS LIMITED announced on 16/09/2002 (stock codes: Ord: 08098) Year end date :30/06/2002 Currency :RMB Auditors' report :Unqualified Review of Yearly Report by :Audit Committee & Auditors 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: $'000 ( Audited) ( Audited) Current Last Corresponding Period Period from 01/07/2001 from 01/07/2000 to 30/06/2002 to 30/06/2001 $'000 $'000 Turnover : 143,269 130,961 Profit/(Loss) from Operations : 48,390 61,984 Finance cost : 511 0 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 : 45,030 60,437 % Change Over the Last Period : -25.49% EPS / (LPS) Basic (in dollars) : RMB 0.1287 RMB 0.1963 Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit (Loss) after ETD Items : 45,030 60,437 Yearly Dividend per Share : NIL NIL (specify if with other options) : N/A N/A B/C Dates for Yearly Dividend : N/A to N/A bdi. Payable Date : N/A B/C Dates for (-) General Meeting : 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 TECHWAYSON HOLDINGS LIMITED Signature : Name : SZE KWAN Title : DIRECTOR 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: (a). The Company was incorporated in the Cayman Islands on 1 September 2000 as an exempted company with limited liability under the Companies Law(Revised) of the Cayman Islands. Its shares have been listed on the Growth Enterprises Market ( "GEM") of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 8 February 2001. (b). On 16 January 2001, the Company became the holding company of other companies comprising the Group pursuant to a group reorganisation (the "Reorganisation") which included exchanges of shares. The Reorganisation involved companies under common control, and the Company and its subsidiaries resulting from the Reorganisation are regarded as continuing group. Accordingly, the Reorganisation has been accounted for on the basis of merger accounting, under which the consolidated financial statements have been prepared as if the Company had been the holding company of the other companies comprising the Group throughout the year ended 30 June 2001, rather than from the date on which the Reorganisation was completed. (c). The consolidated financial statements have been prepared in accordance with Statement of Standard Accounting Practices issued by the Hong Kong Society of Accountants and accounting principles generally accepted in Hong Kong. They have been prepared under the historical cost convention. 2. Turnover: The Group's turnover represented revenue generated from fixed price contracts in respect of (i) sales of system control equipment and software products, and (ii) fees for system integration services and was further classified under the heading of industrial automation services and building automation services. The Group's revenue from fixed price contracts is stated after deducting Mainland China value-added tax and city and county maintenance tax. 3. Earnings per share: The calculation of basic earnings per share for the year ended 30 June 2002 was based on the consolidated profit attributable to shareholders of approximately RMB45,030,000 (2001: RMB60,437,000) and the weighted averaged number of approximately 350,000,000 shares (2001:307,808,000 shares) deemed to be in issue during the year. Diluted earnings per share was not presented because there were no dilutive potential ordinary shares in issue during the year ended 30 June 2001 and 2002. 4. Final Dividend: The Direcotrs do not recommend the payment of a final dividend for the year ended 30 June 2002. (2001: NIL )