SUPERDATA<08263> - Results Announcement (Q3, 2003, Summary)
Superdata Software Holdings Limited announced on 12/11/2003:
(stock code: 08263)
Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 3rd 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 30/09/2003 to 30/09/2002
RMB'000 RMB'000
Turnover : 27,421 21,615
Profit/(Loss) from Operations : 11,001 7,656
Finance cost : 0 0
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 : 11,001 7,656
% Change Over the Last Period : +43.69%
EPS / (LPS)
Basic (in dollar) : RMB 0.0321 RMB 0.0255
Diluted (in dollar) : RMB 0.0311 N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 11,001 7,656
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd 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
Superdata Software Holdings Limited
Signature :
Name : Mr Cen Anbin
Title : Chairman
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. Group reorganisation and basis of preparation
Group reorganisation
(a) The Company was incorporated in the Cayman Islands on 3
July 2002 as an exempted company with limited liability under the
Companies Law, Cap 22 (Law 3 of 1961, as consolidated and revised)
of the Cayman Islands.
(b) Pursuant to a group reorganisation (the "Reorganisation")
in preparation for the listing of the Company's shares on GEM on 6
June 2003 (the "Listing"), the Company became the holding company
of the Group on 20 May 2003. Details of the Reorganisation are set
out in Appendix IV of the Prospectus.
(c) The Reorganisation is accounted for using merger
accounting as stipulated in the Hong Kong Statement of Standard
Accounting Practice ("SSAP") 27 "Accounting for group
reconstructions" issued by the Hong Kong Society of Accountants.
The consolidated results of the Group for the period ended 30
September 2003, including the comparative figures, are prepared as
if the Company had been the holding company of the companies
comprising the Group from the beginning of the earliest period
presented.
(d) All significant transactions and balances among the
companies comprising the Group are eliminated on consolidation.
Basis of preparation
The condensed consolidated results have been have been prepared
in accordance with SSAP and the applicable disclosure requirements
of the GEM Listings Rules.
The principal accounting policies and basis of preparation adopted
for the preparation of these condensed consolidated results are
consistent with those adopted by the Group in the Prospectus.
2. Turnover and revenue
The Group is principally engaged in the development and sale of
packaged software and customised software in the People's Republic
of China excluding Hong Kong (the "PRC"). Turnover and revenue
recognised during the period are as follows:
For the nine months ended
30 September
2003 2002
RMB'000 RMB'000
(Unaudited) (Unaudited)
Turnover
Sales of packaged software 27,421 20,419
Sales of customised software - 1,196
______ ______
27,421 21,615
Other revenue
Interest income 228 90
______ ______
Total revenue 27,649 21,705
====== ======
Note: Turnover as disclosed above is net of applicable value-added
tax in the PRC.
3. Taxation
No provision for Hong Kong profits tax has been made for the three
months and nine months ended 30 September 2003 (three months and
nine months ended 30 September 2002: Nil) as the Group has no
assessable profit in Hong Kong during these periods.
The Group's subsidiaries in the PRC, Superdata Software Technology
(Guangzhou) Limited ("Superdata (Guangzhou)") and Glory Software
(Shanghai) Limited ("Glory Shanghai), which was formerly known as
Beijing Superdata Network Co., are foreign investment enterprises
and are subject to PRC enterprise income tax ("EIT").
Superdata (Guangzhou) is registered in Guangzhou Economic
Technology Development District. During the period, Superdata
(Guangzhou) has accumulated net operating losses brought forward,
and is applying to the tax authorities for a preferential EIT rate
of 15%.
Glory Shanghai qualifies as a high-technology enterprise
established in new technology development zone and is entitled to a
preferential EIT rate of 15%.
In accordance with the PRC law of Enterprise Income Tax for
Enterprises with Foreign Investment and Foreign Enterprises,
Superdata (Guangzhou) is entitled to full exemption from EIT for
the first two years and a 50% reduction in EIT for the next three
years, commencing from the first profitable year after offsetting
all tax losses carried forward from the previous five years.
Glory Shanghai is now applying for full exemption from EIT for the
first two years and a 50% reduction in EIT for the next three
years, commencing from the first profitable year after offsetting
all tax losses carried forward from the previous five years.
4. Earnings per share
The calculation of basic earnings per share is based on the
unaudited profits attributable to shareholders for the three months
and nine months ended 30 September 2003 of approximately
RMB3,452,000 and RMB11,001,000, respectively (three months and nine
months ended 30 September 2002: approximately RMB2,573,000 and
RMB7,656,000, respectively) and the weighted average number of
approximately 400,000,000 and 343,223,000 ordinary shares,
respectively for the three months and nine months ended 30
September 2003 (three months and nine months ended 30 September
2002: 300,000,000 shares) in issue during the periods after
adjusted for the capitalisation issue.
The calculation of diluted earnings per share for the three months
and nine months ended 30 September 2003 was based on the unaudited
profit attributable to shareholders of approximately RMB3,452,000
and RMB11,001,000, respectively and the diluted weighted average
number of approximately 421,136,000 shares and 353,675,000 shares,
respectively in issue during the periods. They have been calculated
after taking into account all dilutive instruments outstanding as
at 30 September 2003. The effect of the dilutive potential ordinary
shares resulting from the exercise of the outstanding share options
on the weighted average number of shares in issue during the three
months and nine months ended 30 September 2003 were approximately
21,136,000 shares and 10,452,000 shares, respectively which were
deemed to have been issued at no consideration as if all
outstanding share options had been exercised on the date the
options were granted.
Diluted earnings per share is not presented for the three months
and nine months ended 30 September 2002 because there were no
dilutive potential ordinary shares in existence during the periods.
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