Computer And Technologies Holdings Limited — Earnings Release 1998

May 31, 1999

Listed Company Information

CHINA AEROSPACE<0031> - Results Announcement China Aerospace International Holdings Limited announced on 29/5/1999: (stock codes: Ord: 31 & War: 319) Year end date: 31/12/1998 Currency: Hong Kong Dollars Last Current Corresponding Period Period from 1/1/1998 from 1/1/1997 to 31/12/1998 to 31/12/1997 Turnover : 2,226,796,000 2,693,828,000 Profit-Continuing Operations - Operating Profit/(Loss) : 195,509,000 270,530,000 - Finance Costs : (274,701,000) (161,354,000) - Exceptional Items : (264,285,000) 102,741,000 - Discontinued Operations : N/A N/A Total Operating Profit/(Loss) : (343,477,000) 211,917,000 Share of Profit/(Loss) of Associated Companies : (9,441,000) 9,198,000 Profit/(Loss) after Tax & MI : (342,242,000) 202,093,000 % Change over Last Period : N/A EPS/(LPS)-Basic : (21 cents) 15 cents -Diluted : (21 cents) 14 cents Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (342,242,000) 202,093,000 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 : 25/6/1999 to 30/6/1999 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Exceptional Items 1998 1997 HK$'000 HK$'000 Profit on deemed disposal of subsidiary upon its initial public offer - 87,900 Interest income on subscription monies received for subsidiary's initial public offer - 7,657 (Provision) for doubtful debts written back (121,171) 3,059 (Provision) for obsolete inventories written back (20,453) 4,125 Amounts written of upon cessation of an associated company (80,392) - --------- --------- (264,285) 102,741 ========= ========= (2) (Loss) Earnings per Share The calculation of the basic and diluted (loss) earnings per share is based on the following data: 1998 1997 HK$'000 HK$'000 (Loss) Profit (Loss) Profit for the year and (loss) profit for calculation of basic and diluted (loss) earnings per share (342,242) 202,093 ========= ========= Number of Shares Weighted average number of ordinary shares for the calculation of basic (loss) earnings per share 1,616,215,402 1,331,959,925 Add: Adjustment for effects of dilutive potential ordinary shares Warrants 12,918,686 121,413,906 -------------- -------------- Weighted average number of ordinary shares for the calculation of diluted (loss) earnings per share 1,629,134,088 1,453,373,831 ============= ============= The adoption of the revised Statement of Standard Accounting Practice No.5 "Earnings per share" issued by the Hong Kong Society of Accountants has results in some modifications to the basis of calculation of diluted earnings per share and to the disclosures presented for diluted earnings per share. Amounts presented for the prior year have been restated to reflect the requirements of the revised standard. (3) Comparative figures Certain comparative figures have been reclassified to conform with the current year's presentation. For more details, please refer to the press announcement today.