GREENCOOL TECH<08056> - Results Announcement (Final, 2003, Summary)
GREENCOOL TECHNOLOGY HOLDINGS LIMITED announced on 25/03/2004:
(stock code: 08056 )
Year end date :31/12/2003
Currency :RMB
Auditors' report :Unqualified
Interim Report Reviewed 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 01/01/2003 from 01/01/2002
to 31/12/2003 to 31/12/2002
RMB'000 RMB'000
Turnover : 106,834 321,420
Profit/(Loss) from Operations : 10,550 103,368
Finance cost : (2,517) (6,230)
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 : 8,624 82,688
% Change Over the Last Period : -89.57%
EPS / (LPS)
Basic (in dollar) : RMB 0.009 RMB 0.083
Diluted (in dollar) : N/A RMB 0.083
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 8,624 82,688
Final Dividends per Share : NIL NIL
(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 (-) 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.
(1) Turnover from continuing operations and discontinued operations
For the twelve months ended 31 December
2003 2002
RMB'000 RMB'000
Continuing Operations 106,834 321,420
Discontinued Operations 0 0
------- -------
Total 106,834 321,420
======= =======
Turnover of continuing operations comprised the followings:
For the twelve months ended 31 December
2003 2002
RMB'000 RMB'000
Conversion engineering income 86,445 219,647
Sale of CFC-free refrigerants 18,282 101,773
Agency Entering fee 2,107 -
------- -------
106,834 321,420
======= =======
(2) Profit from continuing operations and discontinued operations
For the twelve months ended 31 December
2003 2002
RMB'000 RMB'000
Continuing Operations 10,550 103,368
Discontinued Operations 0 0
------- -------
Total 10,550 103,368
======= =======
(3) Taxation
For the twelve months ended 31 December
2003 2002
RMB'000 RMB'000
PRC Enterprise Income Tax (credit) charge
Current year 3,863 14,450
Overprovision in prior year (4,454) -
------- -------
(591) 14,450
======= =======
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
financial statements as the Group's income is neither arises
in nor is derived from Hong Kong.
(4) Earnings per share ("EPS")
The calculation of the basic and diluted earnings per share for
the twelve months ended 31 December 2003 is based on the following
data:
Earnings:
Net profit for the year
for the purposes of basic and diluted
earnings per share RMB8,624,000
==============
Number of shares:
Weighted average number of shares for the 1,000,000,000
purpose of basic EPS ==============
No diluted earnings per share for 2003 has been presented as the
exercise price of the Company's option was higher than the average
market price per share.
(5) Dividends
No dividend was proposed for the year ended 31 December 2003.
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