KINGDEE INT'L<08133> - Results Announcement (Final, 2002, Summary)
Kingdee International Software Group Company Limited announced on: 21/03/2003
(stock code: 08133)
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
$'000 $'000
Turnover : 318,488 199,735
Profit/(Loss) from Operations : 41,992 29,239
Finance cost : 403 1,680
Share of Profit/(Loss) of Associates : 381 (686)
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 40,698 30,036
% Change Over the Last Period : +35.50%
EPS / (LPS)
Basic (in dollar) : RMB 0.09 RMB 0.07
Diluted (in dollar) : RMB 0.09 RMB 0.07
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 40,698 30,036
Final Dividends per Share : HKD0.02 HKD0.01
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends :23/04/2003 to 25/04/2003 bdi.
Payable Date : 25/06/2003
B/C Dates for Annual General Meeting :23/04/2003 to 25/04/2003 bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)
For and on behalf of
Kingdee International Software Group Company Limited
Signature :
Name : XU WEN HUI
Title :Executive Director & Vice President
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:
(a) Basis of presenation
The financial statements are prepared in accordance with International
Financial Reporting Standards ("IFRS") which include International
Accounting Standards and Interpretations issued by the International
Accounting Standards Board, the disclosure requirements of the Hong
Kong Companies Ordinance and the Rules Governing the Listing of
Securities on the GEM issued by the Stock Exchange.
The books and records of the Company and its subsidiaries, except for
those subsidiaries established in the PRC (the "PRC subsidiaries"),
are maintained in Hong Kong dollars. The books and records of the PRC
subsidiaries are maintained in Renminbi ("RMB"). Owing to the fact
that the Group principally operates in the PRC and its business
activiites are principaly transacted in RMB, these financial statements
are prepared in RMB.
These financial statements have been prepared under the historical cost
covention except as disclosed in the accounting policies below.
(b) Turnover, sales and value-added tax refund
1. Turnover is net of applicable business tax and value-added
tax ("VAT") in the PRC and comprises the following:
2002 2001
RMB'000 RMB'000
Sales of software 235,289 153,413
Sales of computer and related products 3,370 3,159
Software solution consulting and support services 55,873 31,170
294,532 187,742
2. Pursuant to the document Cai Shui Zi [2000] No.25 ("Document 25")
issued jointly by Ministry of Finance, State Administration of Taxation
and General Administration of Customs, for subsidiaries engaging in the
development and distribution of software, sales of software are
subject to VAT at the rate of 17% and any VAT paid exceeding 3% of
the sales will be refunded. In the opinion of directors, the effective
rate of VAT of these subsidiaries on sales of software is 3% taking into
account of the refund.
3. No segment information is presented as the Group operates in
one single industry and one single segment. The Group opeartes
within one geographic segment as its revenues are primarily
generatd in the PRC and its major assets are located in the PRC.
(c)Earnings per share
Basic earnings per share are calculated by dividing the net profit
for the year by the weighted average number of ordinary
shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit and the weighted average number of shares outstanding
are adjusted for the effects of all dilutive potential ordinary shares
from exercise of share options. The amount of net profit for the
year is adjusted by the after-tax effect of interest recognised in the
year for the proceeds from exercise of share options. The number
of ordinary shares is the weighted average number of ordinary
shares plus the weighted average number of ordinary shares
which would be issued on the conversion of all the dilutive
potential ordinary shares into ordinary shares. Share options are
deemed to have been converted into ordinary shares on the
date when the options were granted.
Information on net profit and number of shares outstanding during
the year is as follows:
2002 2001
RMB'000 RMB'000
Net Profit 40,698 30,036
After-tax effect of interest on proceeds 36 6
from exercise of share options
Net profit (diluted) 40,734 30,042
2002 2001
Number'000 Number'000
Issue ordinary shares at 1 January 437,750 350,000
Effect of shares issued 1,856 76,563
Effect of exercise of shares options 0 125
Weighted average number of ordinary 439,606 426,688
shares for the year
Effect of share options outstanding 5,533 706
Weighted average number of ordinary 445,139 427,394
shares(diluted)for the year
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