Sinotronics Holdings Limited<08115> - Yearly Results Announcement Sinotronics Holdings Limited announced on 17/09/2002: (stock code :8115) 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: RMB'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 : 204,142 189,128 Profit/(Loss) from Operations : 82,827 76,387 Finance cost : -3,567 -5,198 Share of Profit/(Loss) of Associates : 0 0 Share of Profit/(Loss) of Jointly Controlled Entites : 0 0 Profit/(Loss) after Taxation & MI : 64,767 56,830 % Change Over the Last Period : +13.97% EPS / (LPS) Basic (in dollar) : RMB 0.18 RMB 0.2 Diluted (in dollar) : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit (Loss) after ETD Items : 64,767 56,830 Final Dividend per Share : HKD 3 cents NIL (specify if with other options) : N/A N/A B/C Dates for Final Dividend :17/10/2002 to 24/10/2002 bdi. Payable Date : 07/11/2002 B/C Dates for Annual 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 Sinotronics Holdings Limited Signature : Name : Tong Yiu On, Kendrick 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. Basis of Preparation (a) Reorganisation The Company was incorporated in the Cayman Islands on 29th September, 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 8th May, 2001 through a reorganisation (the "Reorganization") to rationalise the Group's structure in preparation for the public listing of the Company's shares on the Growth Enterprise Market (the "GEM") of the Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Further details of the Reorganistion are set out in the prospectus dated 11th May, 2001 issued by the Company. The shares of the Company were listed on the GEM of the Stock Exchange with effect from 17th May, 2001. (b) Basis of presentation On 8th May, 2001, the Company became the holding company of the other companies comprising the Group pursuant to the Reorganisation involoving companies under common control. The Company and its subsidaries resulting from the Reorganisation have been regarded as a 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 periods presented, except for any acquisitions or disposals subsequent to the Reorganisation, which are accounted for under the acquisition basis of accounting. The measurement basis used in the preparation of the financial statements is historical cost modified by the revaluation of land and buildings as explained in the accounting policies. The 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. 2. Earnings per share (a) Basic earnings per share The calculation of basic earnings per share is based on the profit attributable to shareholders of approximately RMB64,767,000 (2001: RMB56,830,000) and the weighted average of 354,721,000 ordinary shares (2001: 279,000,000 ordinary shares prior to the share offer but after adjusting for the capitalisation issue in 2001) in issue during the year. (b) Diluted earnings per share Diluted earnings per share is not presented as there were no dilutive potential ordinary shares in existence during the year ended 30th June, 2002 (2001: nil).