GREENCOOL TECH<08056> - Results Announcement (Q1, 2005, Summary)
GREENCOOL TECHNOLOGY HOLDINGS LIMITED announced on 11/05/2005:
(stock code: 08056 )
Year end date :31/12/2005
Currency :RMB
Auditors' report :N/A
1st Quarterly Report Reviewed 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 01/01/2005 from 01/01/2004
to 31/03/2005 to 31/03/2004
RMB'000 RMB'000
Turnover : 53,258 22,675
Profit/(Loss) from Operations : 7,846 3,171
Finance cost : (1,909) (1,020)
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 : 4,888 1,460
% Change Over the Last Period : +234.79%
EPS / (LPS)
Basic (in dollar) : RMB 0.0049 RMB 0.0015
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 4,888 1,460
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarter 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) Basis of presentation
The principal accounting policies adopted in preparing the
unaudited consolidated results have been prepared in accordance
with International Financial Reporting Standards 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.
(2) Turnover
Turnover represents net amount received and receivable for goods
sold and services rendered during the year. An analysis of the
Group's turnover is as follows:
For the three months ended 31 March
2005 2004
RMB'000 RMB'000
Conversion engineering income 20,057 22,459
Sales of refrigeration trucks and parts 20,835 -
Sales of chlorofluorocarbon ("CFC") 12,365 216
free refrigerants
---------- ---------
53,258 22,675
=========== =========
Turnover from continuing operations and discontinued operations
For the three months ended 31 March
2005 2004
RMB'000 RMB'000
Continuing Operations 53,258 22,675
Discontinued Operations 0 0
---------- ---------
53,258 22,675
=========== =========
(3) Profit from continuing operations and discontinued operations
For the three months ended 31 March
2005 2004
RMB'000 RMB'000
Continuing Operations 7,846 3,171
Discontinued Operations 0 0
---------- ---------
7,846 3,171
=========== =========
(4) Taxation
For the three months ended 31 March
2005 2004
RMB'000 RMB'000
PRC enterprise Income Tax charge
- Current year 1,049 691
---------- ---------
1,049 691
=========== =========
Pursuant to the relevant income tax laws of the PRC applicable to
enterprises with foregin investment and foreign enterprises, the
Group's PRC subsidiaries with foreign investment are subject to
PRC Enterprise Income Tax at rates ranging from 7.5% to 15%
(2004: 7.5% to 15%). Certain of the Group'S PRC subsidiaries are
foreign investment enterprises of a 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, one of the Group's PRC subsidiaries 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.
The income tax rate for one of the Group's PRC subsidiaries is 33%.
No provision for Hong Kong Profits Tax has been made in the
financial statements as the Group's income neither arises in
nor is derived from Hong Kong.
(4) Earnings per share
The calculation of the basic earnings per share is based on the net
profit for first quarter of 2005 of RMB4,888,000 (2004:
RMB1,460,000) and on 1,000,000,000 shares (2004: 1,000,000,000
shares ) outstanding during the period.
No diluted earnings per share have been presented as there were no
dilutive potential ordinary shares in issue in both periods.
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