GREENCOOL TECH<08056> - Results Announcement (Q2, 2003, Summary)
GREENCOOL TECHNOLOGY HOLDINGS LIMITED announced on 12/08/2003:
(stock code: 08056 )
Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 2nd 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 01/01/2003 from 01/01/2002
to 30/06/2003 to 30/06/2002
RMB'000 RMB'000
Turnover : 53,594 197,440
Profit/(Loss) from Operations : 6,293 78,783
Finance cost : (1,478) (2,576)
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 : 5,002 71,751
% Change Over the Last Period : -93.03%
EPS / (LPS)
Basic (in dollar) : RMB 0.005 RMB 0.072
Diluted (in dollar) : RMB 0.005 RMB 0.072
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 5,002 71,751
2nd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd 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
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.
Remarks:
1) Turnover from continuing operations and discontinued operations
For the six months ended 30 June
2003 2002
RMB'000 RMB'000
Continuing Operations 53,594 197,440
Discontinued Operations 0 0
------- -------
Total 53,594 197,440
======= =======
Turnover of continuing operations comprised the followings:
For the six months ended 30 June
2003 2002
RMB'000 RMB'000
Conversion engineering income 47,406 128,424
Sale of CFC-free refrigerants 6,188 69,016
------- -------
Total 53,594 197,440
======= =======
(2) Profit from continuing operations and discontinued operations
For the six months ended 3o June
2003 2002
RMB'000 RMB'000
Continuing Operations 6,293 78,783
Discontinued Operations 0 0
------- --------
Total 6,293 78,783
======= =======
(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% (2002: 7.5% to 15%). 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 six months ended 30 June 2003 is based on the following data:
Earnings:
Net profit for the period and earnings
for the purposes of basic and dilute
earnings per share RMB5,002,000
============
Number of shares:
Weighted average number of shares for the 1,000,000,000
purpose of basic EPS
Effect of dilutive potential shares on share Nil
options
--------------
Weighted average number of shares for the
purpose of diluted EPS 1,000,000,000
==============
(5) Dividends
The Board does not recommend the payment of an interim dividend for
the six months ended 30 June 2003 [2002 - Nil per share]
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