Apollo Future Mobility Group Limited — Interim / Quarterly Report 2003

Jun 12, 2003

Listed Company Information

MING FUNG JEWEL<00860> - Results Announcement Ming Fung Jewellery Group Limited announced on 12/6/2003: (stock code: 00860 ) Year end date: 30/9/2003 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/10/2002 from 1/10/2001 to 31/3/2003 to 31/3/2002 Note ('000 ) ('000 ) Turnover : 149,751 128,231 Profit/(Loss) from Operations : 22,201 23,406 Finance cost : (472) (165) 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 : 18,095 19,567 % Change over Last Period : -7.52 % EPS/(LPS)-Basic (in dollars) : 0.028 0.038 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 18,095 19,567 Interim Dividend : NIL N/A per Share (Specify if with other : N/A N/A options) B/C Dates for Interim 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 Remarks: 1, Basis of preparation These condensed consolidated financial statements are unaudited and have been prepared under the historical cost convention. These condensed consolidated financial statements have been prepared using the merger basis of accounting as a result of a reorganization scheme to rationalize the structure of the Group on 12 August 2002 ("Reorganisation") in preparation for the listing of the Company's shares on the Main Board of The Stock Exchange of Hong Kong Limited ("Stock Exchange") on 3 September 2002. Under this basis, the Company has been treated as the holding company of its subsidiaries for the financial periods presented, rather than from the date of its acquisition of the subsidiaries. Accordingly, the condensed consolidated results of the Group for the six months ended 31 March 2002 include the results of the Company and its subsidiaries with effect from 1 October 2001 or since their respective dates of incorporation/establishment, whichever is a shorter period. These condensed consolidated financial statements have been prepared in accordance with the requirements of The Rules Governing the Listing of Securities on the Stock Exchange ("Listing Rules") and Statement of Standard Accounting Practice ("SSAP") 25 "Interim Financial Reporting" issued by the Hong Kong Society of Accountants. The accounting policies and basis of presentation adopted in the preparation of these condensed consolidated financial statements are consistent with those adopted in the preparation of the Group's audited consolidated financial statements for the year ended 30 September 2002, except for the adoption of the following new and revised SSAPs, which are effective for the first time in the preparation of the condensed consolidated financial statements for the Period. Their major effects on the Group's accounting policies and on the amounts disclosed in these condensed consolidated financial statements are summarized as follows: SSAP 11 (Revised) prescribes the basis for translation of foreign currency transactions and financial statements. SSAP 11 (Revised) has had no major impact on these condensed consolidated financial statements. SSAP 15 (Revised) prescribes the provision of information about the historical changes in cash and cash equivalents by means of a cash flow statement which classifies cash flow during the period into operating, investing and financing activities. The condensed consolidated cash flow statement for the Period has been presented in accordance with SSAP 15 (Revised). SSAP 34 prescribes the accounting treatment and disclosure for employee benefits. SSAP 34 has had no major impact on these condensed consolidated financial statements. 2. Earnings Per Share The calculation of basic earnings per share is based on the Group's unaudited net profit from ordinary activities attributable to shareholders for the Period of approximately HK$18,095,000 (2002: HK$19,567,000) and the weighted average of 650,000,000 (2002: 520,000,000) ordinary shares in issue during the Period. The number of ordinary shares used to calculate the earnings per share for the six months ended 31 March 2002 includes the pro forma issued share capital of the Company, comprising 10,000,000 ordinary shares issued nil paid on 28 February 2002 and sub-divided, 10,000,000 ordinary shares issued for the acquisition of the entire issued share capital of Ming Fung Investment Holdings Limited and the capitalization issue of 500,000,000 ordinary shares, pursuant to the Reorganisation. There were no potential dilutive ordinary shares in existence for the six months ended 31 March 2003 and 2002 and accordingly, no diluted earnings per share amounts have been presented for the two periods.