Beijing Geekplus Technology Co., Ltd. — Earnings Release 1998

Apr 27, 1999

Listed Company Information

KARCE INTL HOLD<1159> - Results Announcement Karce International Holdings Company Limited announced on 26/4/1999: (stock code: 1159) Year end date: 31/12/1998 Currency: HK$ Last Current Corresponding Period Period from 1/1/1998 from 1/1/1997 to 31/12/1998 to 31/12/1997 ('000) ('000) Turnover/Interest Income : 469,489 413,122 Profit-Continuing Operations - Operating Profit/(Loss) : 58,716 84,374 - Exceptional Items : - 3,969 - Discontinued Operations : - 37,999 Total Operating Profit/(Loss) : 58,716 126,342 Share of Profit/(Loss) of Associated Companies : - - Profit/(Loss) after Tax & MI : 50,636 110,235 % Change over Last Period : -54% EPS/(LPS)-Basic : 13.2 cents 36.7 cents -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 50,636 110,235 Final Dividend per Share : 2 cents Nil (Specify if with other options) : - - B/C Dates for Final Dividend : 25/5/1999 to 28/5/1999 bdi. Payable Date : 31/5/1999 B/C Dates for Annual General Meeting : 25/5/1999 to 28/5/1999 bdi. Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: (1) Basis of presentation Pursuant to a group reorganisation (the "Group Reorganisation") to rationalise the structure of Karce International Holdings Company Limited (the "Company") and its subsidiaries (the "Group") in preparation for the listing of the Company's shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the Company became the holding company of the Group on 13th February, 1998. The Company's shares were listed on the Stock Exchange on 13th March, 1998. The Group resulting from the Group Reorganisation is regarded as a continuing entity. Accordingly, the results and comparative figures have been prepared on the basis as if the current group structure had been in existence throughout the two years ended 31st December, 1998. In the opinion of the directors, the Group's results prepared on the foregoing basis present fairly the results of the Group as a whole. (2) Exceptional item The exceptional item for the previous year represented waiver of profit entitlement of the joint venture partner on its cancellation of a joint venture agreement. (3) Profit from discontinued operations From 1/1/1998 From 1/1/1997 to 31/12/1998 to 31/12/1997 HK$'000 HK$'000 Discontinued operations excluding exceptional item - 2,634 Exceptional item - 35,365 ----- --------- - 37,999 ==== ====== The profit from discontinued operations excluding exceptional item for the previous year represented the operating results of subsidiaries disposed during the previous year. The exceptional item represented profit on disposal of the subsidiaries. (4) Earnings per share From 1/1/1998 From 1/1/1997 to 31/12/1998 to 31/12/1997 Adjusted basic earnings per share N/A 23.6 cents ========== Adjusted basic earnings per share figure for the year ended 31st December, 1997 which was calculated on the basis of the profit after tax but before exceptional items, is also presented to give a better understanding of the maintainable earnings of the Group. There are no dilutive potential ordinary shares in issue, accordingly no diluted earnings per share figure is presented. For more details, please refer to the press announcement today.