CMON Limited — Earnings Release 2003

Aug 22, 2003

Listed Company Information

SHENYANG PUBLIC<00747> - Results Announcement Shenyang Public Utility Holdings Company Limited announced on 22/08/2003: (stock code: 00747 ) Year end date: 31/12/2003 Currency: RMB Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2003 from 01/01/2002 to 30/06/2003 to 30/06/2002 Note ('000 ) ('000 ) Turnover : 11,674 363,965 Profit/(Loss) from Operations : (9,338) 152,312 Finance cost : (1,064) (295) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : 14,493 11,934 Profit/(Loss) after Tax & MI : 1,777 127,667 % Change over Last Period : -98.6 % EPS/(LPS)-Basic (in dollars) : 0.0017 0.1251 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit/(Loss) after ETD Items : 1,777 127,667 Interim Dividend : NIL NIL 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. EARNINGS PER SHARE - basic The calculation of basic earnings per share for the period is based on the net profit for the period of RMB1,777,000 (six months ended 30th June, 2002: RMB127,667,000) and the number of 1,020,400,000 shares (2002: 1,020,400,000 shares) in issue during the period. No diluted earnings per share are presented as the Company has no dilutive potential shares outstanding in both periods. 2. Explanation for any change or adjustment of the last corresponding results. In the current period, the Group has adopted, for the first time, SSAP 12 (Revised) "Income taxes" ("SSAP 12 (Revised)") issued by the HKSA. SSAP 12 (Revised) has introduced a new basis of accounting for income taxes (including both current tax and deferred tax) which have been adopted in the condensed financial statements. In the absence of any specific transitional requirements in SSAP 12 (Revised), the new accounting policy has been applied retrospectively. Comparative amounts for prior period have been restated accordingly. Opening accumulated profits at 1st January, 2002 have been increased by RMB14,632,000, which is the cumulative effect of the change in policy on the results for period prior to 2002. Net profit for the six months period ended 30th June, 2002 has been increased by RMB17,558,000. In the last year, the Group disposed of its 99.37% equity interest in Shenyang Water Company Limited ("Shenyang Water") ("Disposal of Water Business"). The Disposal of Water Business was approved in the Company's extraordinary general meeting held on 20th August, 2002. Accordingly, the effective date of discontinuance for accounting purposes was 31st July, 2002 upon the completion of the Disposal of Water Business. However, in the previously reported interim report for the six months period ended 30th June, 2002, the effective date of Disposal of Water Business was regarded at 31st March, 2002. Accordingly, the comparative amounts of the condensed financial statements for the six months period ended 30th June, 2002 have been restated. Net profit for the six months period ended 30th June, 2002 has been increased by RMB11,698,000.