abc Multiactive Limited — Earnings Release 2003

Feb 25, 2004

GEM

ABC MULTIACTIVE<08131> - Results Announcement (Final, 2002/2003, Summary)(Revised)

abc Multiactive Limited announced on 24/02/2004:
(stock code: 08131)

Year end date :30/11/2003
Currency :HKD
Auditors' report :Unqualified
Review of Quarterly Report 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 01/12/2002   from 01/12/2001
                                     to 30/11/2003     to 30/11/2002
                                             $'000             $'000

Turnover : 22,567 25,668
Profit/(Loss) from Operations : 8,556 (37,219)
Finance cost : (1,042) (634)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 7,788 (38,281)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.0048 (HKD 0.0238)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 7,788 (38,281)
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

                                     For and on behalf of
                                   abc Multiactive Limited
                        Signature :
                             Name :  Cheung, Siu Leong
                            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 preparation

The audited consolidated annual financial statements of the
Group have been prepared in accordance with the Statement of
Standard Accounting Practice ("SSAP") issued by the Hong Kong
Society of Accountants ("HKSA") and the applicable disclosure
requirements of the Rules Governing the Listing of Securities
on the Growth Enterprise Market of The Stock Exchange of
Hong Kong Limited.

The audited consolidated annual financial statements should be
read in conjunction with the Company's annual financial statements
for the year ended 30th November 2003.

The audited consolidated annual financial statements have
been audited by the auditors and have been reviewed by
the Company's audit committee.

In the current year, the Group adopted the following new and
revised SSAP's issued by the Hong Kong Society of Accountants
(the "HKSA") which are effective for the first time for the
current year's financial statement :

SSAP 11 (revised): Foreign currency translation
SSAP 34: Employee benefits

The changes to the Group's accounting policies and the effect of
adopting these new policies are set out below:

a. SSAP 11 (revised) "Foreign currency translation" prescribes
the basis for translation of foreign currency transactions
and financial statements. The adoption of this SSAP has
resulted in no material effect to the previously and
currently adopted accounting policy for foreign currency
translation.

b. SSAP 34 "Employee benefits" prescribes the recognition and
measurement criteria to apply to employee benefits together
with the required disclosures in respect thereof. The
adoption of this SSAP has resulted in no material change to
the previously adopted accounting treatments for employee
benefits.

1. Basic earnings/(loss) per share

The calculation of basic earnings per share is based on the Group's
profit for the year of HK$7,788,000 (2002 : net loss HK$38,281,000)
and the weighted average of 1,605,909,668 & 1,605,909,668 ordinary
shares in issue during the year ended 30th November 2003 and
30 November 2002 respectively.