SINOTRONICS<08115> - Results Announcement (Q1, 2002/2003, Summary)
Sinotronics Holdings Limited announced on 11/11/2002
(stock code: 08115 )
Year end date :30/06/2003
Currency :RMB
Auditors' report :N/A
Review of 1st 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 01/07/2002 from 01/07/2001
to 30/09/2002 to 30/09/2001
RMB'000 RMB'000
Turnover : 61,305 50,499
Profit/(Loss) from Operations : 19,549 20,386
Finance cost : (534) (615)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 15,128 16,283
% Change Over the Last Period : -7.09%
EPS / (LPS)
Basic (in dollar) : RMB 0.0376 RMB 0.0468
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 15,128 16,283
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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
(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.
Remark:
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 unaudited
consolidated profit attributable to shareholders of
approximately RMB15,128,000 (2001: RMB16,283,000) and
on the 402,625,000 (2001: 347,625,000) ordinary shares
in issue during the three months ended 30th September, 2002.
(b) Diluted earnings per share
Diluted earnings per share is not presented as there were no dilutive
potential ordinary shares in existence during the three months ended
30th September, 2002 (2001: nil).
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