LOULAN HOLDINGS<08039> - Results Announcement
Loulan Holdings Limited announced on 08/11/2004:
(stock code: 08039 )
Year end date: 31/12/2004
Currency: RMB
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
Important Note:
This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 30/09/2004 to 30/09/2003
Note ('000 ) ('000 )
Turnover : 39,594 96,650
Profit/(Loss) from Operations : (6,205) 2,588
Finance cost : (2,546) (2,435)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (8,935) (209)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.022) (0.001)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (8,935) (209)
3rd Quarter Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
3rd Quarter Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
For and on behalf of
Loulan Holdings Limited
Name : Pong Lai Kit, Tracy
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. Group reorganisation
The Company was incorporated in the Cayman Islands on 29 August 2001 as
an exempted company with limited liability and its shares have been
listed on the GEM of the Stock Exchange since 12 August 2002.
Pursuant to a group reorganisation ("the Reorganisation") to rationale
the structure of the Group in preparation for the listing of the
Company's shares on the GEM of the Stock Exchange, the Company became
the holding company of the Group on 24 July 2002. Details of the
Reorganisation are set out in the prospectus of the Company dated 31
July 2002 (the "Prospectus").
2. Basis of preparation and principal accounting policies
The unaudited consolidated results have been prepared in accordance with
all applicable Statements of Standard Accounting Practice and
Interpretations issued by the Hong Kong Institute of Certified Public
Accountants, accounting principles generally accepted in Hong Kong, the
applicable disclosure requirements of the Hong Kong Companies Ordinance
and the applicable disclosure provisions of the GEM Listing Rules of the
Stock Exchange of Hong Kong Limited.
With effect from 1 January 2003, in order to complying with SSAP 12
(revised) issued by Hong Kong Institute of Certified Public Accountants,
the Group adopted a new policy for deferred tax to the financial
statements. The adoption of this accounting policy has been applied
retrospectively, but has no material effect on the results for the
current or prior accounting periods. Accordingly, no prior periods
adjustment is necessary.
The accounting policies adopted in preparing the unaudited condensed
consolidated results for the period ended 30 September 2004, except for
the vineyard development as explained below, are consistent with those
followed in the preparation of the Group's annual financial statements
for the year ended 31 December 2003.
Vineyard development represents the costs incurred in preparing
agricultural land for the planting of grapes. Cost comprises the direct
costs of development during the period of development. Vineyard development
costs are amortised over the estimated economic life of the commercial
harvesting of the grapes, which is 20 years, on a straight-line basis, as
from the 6th years which the agricultural land preparation is generally
completed.
3. Loss per share
The calculation of the Group's basic loss per share for the nine months
ended 30 September 2004 is based on the unaudited loss attributable to
shareholders of RMB8,935,000 (2003: RMB209,000) and the weighted average
of 400,000,000 (2003: 400,000,000) shares in issue during the period.
Diluted loss per share amounts for the nine months respectively ended
30 September 2004 and 2003 have not been disclosed as there were no
dilutive potential shares during the periods.
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