CHINA STATE CONSTRUCTION DEVELOPMENT HOLDINGS LIMITED — Earnings Release 2002

Sep 27, 2002

Listed Company Information

UNIVERSAL APPLI<00419> - Results Announcement (Summary) Universal Appliances Limited announced on 27/9/2002: (stock code: 419) Year end date: 31/12/2002 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2002 from 1/1/2001 to 30/6/2002 to 30/6/2001 ('000) ('000) Turnover : 42,563 69,220 Profit/(Loss) from Operations : (26,938) (53,979) Finance cost : (1,049) (851) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : (212) (483) Profit/(Loss) after Tax & MI : (6,684) (41,360) % Change over Last Period : N/A EPS/(LPS)-Basic : (0.24 cent) (1.50 cents) -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (6,684) (41,360) Interim Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Interim Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: 1. Operating loss Operating loss is stated after charging the following: Six months ended 30th June 2002 2001 HK$'000 HK$'000 Charging Depreciation: Owned fixed assets 9,382 6,091 Leased fixed assets 61 20 Amortisation of goodwill 994 1,252 Amortisation of development costs, patents and trademarks 4,251 4,322 Provision for inventory - 4000 Provision for doubtful debts 225 10,149 ===== ====== 2. Taxation Hong Kong profits tax has not been provided (2001: nil) as the Group did not generate any assessable profits arising in Hong Kong for the period. Overseas profits tax has not been provided (2001: nil) as the foreign subsidiaries did not generate any assessable profits attributable to their operations in 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 because there were no significant timing differences at the balance sheet date. 3. Loss per share The calculation of basic loss per share for the period ended 30th June 2002 is based on the net loss attributable to shareholders of HK$6,684,000 (2001: net loss of HK$41,360,000) and the weighted average number of 2,774,293,157 (2001: 2,774,293,157) ordinary shares deemed to have been in issue during the period. There were no dilutive potential ordinary shares in 2001 and 2002 and therefore, no diluted loss per share for the period is shown. 4. Staff costs Six months ended 30th June 2002 2001 HK$'000 HK$'000 Salaries 18,191 18,410 MPF Contributions 1,121 973 -------- ------- 19,312 19,383 ======== ======= 5. Dividend The Directors do not recommend any payment of interim dividend for the period. (2001: Nil) 6. Discontinued operation The Company does not have any discontinued operation during the period.