KINGDEE INT'L<08133> - Results Announcement (Q1, 2003, Summary)
Kingdee International Software Group Company Limited announced on 13/05/2003
(stock codes: 08133)
Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 1st Quarterly 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
(Unaudited) (Unaudited)
Current Last Corresponding
Period Period
from 01/01/2003 from 01/01/2002
to 31/03/2003 to 31/03/2002
$'000 $'000
Turnover : 78,528 51,611
Profit/(Loss) from Operations : 5,123 3,876
Finance cost : (41) 227
Share of Profit/(Loss) of Associates : (87) 0
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 4,721 3,403
% Change Over the Last Period : +38.73%
EPS / (LPS)
Basic (in dollar) : RMB 0.0107 RMB 0.0078
Diluted (in dollar) : RMB 0.0105 RMB 0.0078
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 4,721 3,403
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
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:
1. 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.
2. Turnover, sales and value-added tax refund
(a) Turnover is net of applicable business tax and value-added
tax ("VAT") in the PRC and comprises the following:
Three months ended 31 March
2003 2002
RMB'000 RMB'000
Sales of software 56,527 41,527
Sales of computer and related products 404 21
Software solution consulting and support services 12,500 5,120
69,431 46,668
(b) 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. Earnings per share
Basic earnings per share are calculated by dividing the net profit
for the three months ended 31 March 2003,by the weighted average
number of ordinary shares outstanding during the reporting period.
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
reporting period is adjusted by the after-tax effect of interest
recognised in the reporting period 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 for the
three months ended 31 March 2003 is as follows:
Three months ended 31 March
2003 2002
unaudited unaudited
RMB'000 RMB'000
Net Profit 4,721 3,403
After-tax effect of interest on proceeds 18 3
from exercise of share oprions
Net profit (diluted) 4,739 3,406
2003 2002
Number'000 Number'000
Issue ordinary shares at 1 January 440,887 437,750
Effect of shares issued 0 0
Effect of exercise of shares options 0 0
Weighted average number of ordinary 440,887 437,750
shares for the reporting period
Effect of share options outstanding 10,987 2,020
Weighted average number of ordinary 451,874 439,770
shares(diluted)for the reporting period
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