China Pipe Group Limited — Earnings Release 2000

Apr 25, 2001

Listed Company Information

PRIME SUCCESS<0210> - Results Announcement Prime Success International Group Limited announced on 25/4/2001: (stock code: 210) Year end date: 31/12/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 31/12/2000 to 31/12/1999 ('000) ('000) Turnover : 1,013,816 1,017,322 Profit/(Loss) from Operations : (27,159) 52,698 Finance cost : (14,159) (17,032) Share of Profit/(Loss) of Associates : 190 1,352 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (51,151) 33,885 % Change over Last Period : N/A EPS/(LPS)-Basic : (3.4 cents) 2.2 cents -Diluted : N/A 2.2 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (51,151) 33,885 Final Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 23/5/2001 to 25/5/2001 bdi. Other Distribution for Current Period : NIL B/C Dates for Other Distribution : N/A Remarks: 1. (LOSS) EARNINGS PER SHARE The calculation of the basic and diluted (loss) earnings per share for the year is based on the following data: 2000 1999 HK$'000 HK$'000 Net (loss) profit for the year (51,151) 33,885 ======== ======= Weighted average number of ordinary shares for the purpose of basic (loss) earnings per share 1,498,392,384 1,506,613,906 ============= Effect of dilutive potential ordinary shares in respect of share options 1,245,548 ------------- Weighted average number of ordinary shares for the purpose of diluted earnings per share 1,507,859,454 ============= No disclosure of diluted loss per share for the year ended 31st December, 2000 has been presented as the effect of the potential ordinary shares in issue is anti-dilutive. The computation of diluted earnings per share for the year ended 31st December, 1999 did not assume the exercise of the Company's then outstanding 2000 warrants as the exercise price of the Company's 2000 warrants was higher than the average market value of the Company's shares. 2. The Board has resolved not to declare an final dividend for the year. 3. To reflect the fair market value, provisions for impairment loss on two investments held by the Group had been made amounted to approximately HK$50.3 million in 2000. 4. As the presentation of the results announcement form differs from the one in 1999, the profit (loss) from operation for the year ended 1999 was restated as follow:- 1999 HK$'000 Profit(Loss) from operations 52,698 Finance cost (17,032) Gain on disposal of discontinued operations 893 ________ Total operating profit before restated 36,559 ========