GREENCOOL TECH<08056> - Results Announcement (Final, 2002, Summary)
GREENCOOL TECHNOLOGY HOLDINGS LIMITED announced on 18/03/2003
(stock code: 08056)
Year end date :31/12/2002
Currency :RMB
Auditors' report :Unqualified
Review of Quarterly Report by :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
(Audited) (Audited)
Current Last Corresponding
Period Period
from 01/01/2002 from 01/01/2001
to 31/12/2002 to 31/12/2001
RMB'000 RMB'000
Turnover : 321,420 516,330
Profit/(Loss) from Operations : 103,368 339,365
Finance cost : (6,230) (4,430)
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 : 82,688 314,342
% Change Over the Last Period : -73.69%
EPS / (LPS)
Basic (in dollar) : RMB 0.083 RMB 0.31
Diluted (in dollar) : RMB 0.083 RMB 0.31
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 82,688 314,342
Final Dividends per Share : NIL HK5cents
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : N/A
Payable Date : N/A
B/C Dates for Annual 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
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.
Remark:
(1) Turnover from continuing operations and discontinued operations
For the twelve months ended 31 December
2002 2001
RMB'000 RMB'000
Continuing Operations 321,420 516,330
Discontinued Operations 0 0
------- -------
Total 321,420 516,330
======= =======
Turnover of continuing operations comprised the followings:
For the twelve months ended 31 December
2002 2001
RMB'000 RMB'000
Conversion engineering income 219,647 476,726
Sale of CFC-free refrigerants 101,773 39,604
------- -------
321,420 516,330
======= =======
(2) Profit from continuing operations and discontinued operations
For the twelve months ended 31 December
2002 2001
RMB'000 RMB'000
Continuing Operations 103,368 339,365
Discontinued Operations 0 0
------- -------
Total 103,368 339,365
======= =======
(3) Taxation
Pursuant to the relevant income tax laws of the PRC applicable to
enterprises with foreign investment and foreign enterprises, the
Group's PRC subsidiaries are subject to PRC Enterprise Income Tax
at rates ranging from 7.5% to 15% (2001: 15% to 24%). The Group's
certain PRC subsidiaries are foreign investment enterprises of
production nature established in the PRC. Accordingly,
these subsidiaries are entitled to tax exemption for the first
two years of profitable operations and 50% tax reduction in the
following three years of operations. In addition, a PRC
subsidiary is a foreign investment enterprise of production
nature and is located in New and High Technology Development
Zone in the PRC. Accordingly, this subsidiary is entitled to tax
exemption for the first three years of operations and 50% tax
reduction in the following three years of operations.
No provision for Hong Kong Profits Tax has been made in the
financialˇ@statements as the Group's income is neither arises
in nor is derivedˇ@from Hong Kong.
No provision for deferred taxation has been made in the
financialˇ@statements as there were no significant timing
differences arisingˇ@during the year or at the balance sheet date.
(4) Earnings per share ("EPS")
The calculation of the basic and diluted earnings per share for
the twelve months ended 31 December 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 RMB82,688,000
==============
Number of shares:
Weighted average number of shares for the 1,000,000,000
purpose of basic EPS
Effect of dilutive potential shares: shares 578,000
options
---------------
Weighted average number of shares for the
purpose of diluted EPS 1,000,578,000
===============
(5) Dividends
The Board does not recommend the payment of a final dividend for
the twelve months ended 31 December 2002 [2001 - HK$0.05 per share
(equivalent to RMB0.053 per share)].
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