CHINA STATE CONSTRUCTION DEVELOPMENT HOLDINGS LIMITED — Earnings Release 2000

Apr 26, 2001

Listed Company Information

UNIVERSAL APPLI<0419> - Results Announcement Universal Appliances Limited announced on 25/4/2001: (stock code: 419) 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 : 119,275 727,726 Profit/(Loss) from Operations : (559,319) (1,236) Finance cost : (7,077) (9,623) Share of Profit/(Loss) of Associates : (15,032) 9 Share of Profit/(Loss) of Jointly Controlled Entities : (3,628) 2,041 Profit/(Loss) after Tax & MI : (492,869) 70,559 % Change over Last Period : N/A EPS/(LPS)-Basic : (18.2 cents) 3.3 cents -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (492,869) 70,559 Final Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: 1. TURNOVER Revenue from the following activities has been included in the Group's turnover: 2000 1999 HK$'000 HK$'000 Continuing operations: Sales of goods 73,974 15,729 Provision of international financial market information and selective consumer data services 15,779 16,722 ------ ------ 89,753 32,451 Discontinued operations: Sales of goods 29,522 695,275 ------ ------- Total 119,275 727,726 ======= ======= 2. LOSS FROM OPERATING ACTIVITIES The Group's loss from operating activities is arrived at after charging/(crediting): 2000 1999 HK$'000 HK$'000 Depreciation 15,261 31,185 Amortisation 13,907 17,384 Write off of goodwill 94,862 56,725 Provision for bad and doubtful debts 44,230 108,621 Net unrealised holding loss of short term investments 294,132 16,742 Loss on disposal of short-term investments 8,820 - Gain on conversion of investment in preference shares (27,200) - Gain on disposal of investment in preference shares (40,745) - Loss/(gain) on discontinued operations 40,149 (101,319) ======== ========= 3. TAX Hong Kong profits tax has not been provided (1999: Nil) as the Group did not generate any assessable profits arising in Hong Kong during the year. The tax credit for the year represents Hong Kong profits tax over-provided in prior years. Overseas profits tax has not been provided (1999: Nil) as the foreign subsidiaries did not generate any assessable profits attributable to their operations in their respective countries of operation or are still exempted from income tax during the year. No deferred tax has been provided for the Company and the Group as there were no significant timing differences at the balance sheet date. 4. EARNINGS/(LOSS) PER SHARE The calculation of basic loss (1999: earnings) per share for the year ended 31 December 2000 is based on the net loss attributable to shareholders of HK$492,869,000 (1999: net profit of HK$70,559,000) and the weighted average number of 2,710,537,000 (1999: 2,168,341,486) ordinary shares deemed to have been in issue during the year. There were no dilutive potential ordinary shares in 1999 and 2000 and therefore, no diluted earnings/(loss) per share for the years was shown. 5. COMPARATIVE AMOUNTS Certain comparative amounts have been reclassified to conform with the current year presentation. For more details, please refer to the press announcement today.