AKUP INT'L<08179> - Results Announcement (Q3, 2002, Summary)
AKuP International Holding Limited announced on 11/11/2002
(stock codes: Ord: 08179)
Year end date :31/12/2002
Currency :HKD
Auditors' report :N/A
Review of 3rd Quarterly Report by :Audit Committee
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
(Unaudited) (Unaudited)
Current Last Corresponding
Period Period
from 01/01/2002 from 01/01/2001
to 30/09/2002 to 30/09/2001
$'000 $'000
Turnover : 22,489 12,038
Profit/(Loss) from Operations : 7,360 (11,024)
Finance cost : (5) (61)
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 : 7,965 (10,613)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.0126 (HKD 0.0207)
Diluted (in dollar) : HKD 0.0126 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 7,965 (10,613)
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
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 listing date
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 Company's shares were listed on the Growth
Enterprise Market of The Stock Exchange of Hong Kong
Limited on 5 November 2001.
2 Basis of presentation
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
("SSAP") 27 "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 nine
months ended 30 September 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 financial information presented is unaudited but has
been reviewed by the Company's audit committee. This third quarterly
results announcement form has been prepared in accordance 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 accounting policies and basis of preparation used in the
preparation of the third quarterly results announcement
form are the same as those used in the 2001 annual accounts,
except for the following new or revised SSAPs issued
by the Hong Kong Society of Accountants which have been
adopted for the first time in the preparation of
the third quarterly results announcement form and
are effective for accounting periods beginning
on or after 1 January 2002:
SSAP 11 (revised) "Foreign currency translation"
SSAP 15 (revised) "Cash flow statements"
SSAP 25 (revised) "Interim financial reporting"
SSAP 26 (revised) "Segment reporting"
SSAP 33 "Discontinuing operations"
SSAP 34 "Employee benefits"
3 Revenue
Revenue represents income arising from the provision
of custom-made solutions and maintenance 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.
4 Earnings/(loss) per share
(a) Basic earnings/(loss) per share
The calculation of basic earnings per share for the nine
months ended 30 September 2002 is based on the
profit attributable to shareholders of HK$7,965,000
divided by 630,000,000 shares in issue during
the period.
The calculation of basic loss per share for the nine
months ended 30 September 2001 is based on
the loss attributable to shareholders of HK$10,613,000
divided by 513,000,000 shares after adjusting for the
capitalisation issue in 2001 during
the period.
(b) Diluted earnings/(loss) per share
The calculation of diluted earnings per share for the nine
months ended 30 September 2002 is based on
the profit attributable to shareholders of
HK$7,965,000 and the weighted average
number of ordinary shares of 633,503,294
shares after adjusting for the effects of all dilutive
potential ordinary shares.
Diluted loss per share for the nine months ended
30 September 2001 have not been presented
as there were no potential dilutive ordinary shares in
issue as at 30 September 2001.
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