Computer And Technologies Holdings Limited — Earnings Release 1999

May 25, 2000

Listed Company Information

CHINA AEROSPACE<0031> - Results Announcement China Aerospace International Holdings Limited announced on 25/5/2000: (stock code: 31) Year end date: 31/12/1999 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/1/1999 from 1/1/1998 to 31/12/1999 to 31/12/1998 Turnover - Continuing : 1,283,521,000 2,226,796,000 - Discontinued : - - Operating Profit/(Loss) - Continuing : (435,189,000) (343,477,000) - Discontinued : - - Total Operating Profit/(Loss) : (435,189,000) (343,477,000) Share of Profit/(Loss) of Associated Companies : (17,640,000) (9,441,000) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (383,963,000) (342,242,000) % Change over Last Period : N/A EPS/(LPS)-Basic : (21.5 cents) (21.2 cents) -Diluted : N/A (21.0 cents) Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (383,963,000) (342,242,000) 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 : 22/6/2000 to 26/6/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1) In the current year, the Group has adopted, for the first time, Statement of Standard Accounting Practice 1 (Revised), 2 (Revised), 10 (Revised) and 24 for "Presentation of Financial Statements" (SSAP 1), "Net Profit or Loss for the period, Fundamental Errors and Changes in Accounting Policies" ("SSAP 2"). "Accounting for Investments in Associates" ("SSAP 10") and "Accounting for Investments in Securities" ("SSAP 24") respectively issued by the Hong Kong Society of Accountants. Comparative figures have been reclassified to conform with the presentation as specified by the revised SSAP 1 and SSAP 2. 2) Operating loss is arrived at after charging: 1999 1998 HK$'000 HK$'000 Provision for doubtful debts 218,605 121,171 Loss on interest rate SWAP 5,645 42,269 Amounts written off upon cessation of an associate - 80,392 Loss on disposal of a subsidiary 31,516 - Project cost written off 17,471 12,410 Termination fee on interest SWAP contracts 10,165 - Development cost written off 20,878 288 ------------------------ 304,280 256,530 3) Loss per share The calculation of the basic loss per share is based on the following data: 1999 1998 HK$'000 HK$'000 Loss Loss for the year for calculation of basic loss per share (383,963) (342,242) Number of shares Weighted average number of ordianry shares for the calculation of basic loss per share 1,785,401,738 1,616,215,402 4) Further to the release of the final result announcement on teletext on 25/5/2000, the Company subsequently notified the Exchange that the item of "Diluted EPS" should read as (21.0 cents) instead of "N/A", and remark 3 should read as the above. For more details, please refer to the press announcement today.