Comtec Solar Systems Group Limited — Earnings Release 2002

Jul 24, 2002

Listed Company Information

SUN EAST TECH<00365> - Results Announcement (Summary) Sun East Technology (Holdings) Limited announced on 24/7/2002: (stock code: 365) Year end date: 31/3/2002 Currency: HKD Auditors' Report: Unqualified Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/4/2001 from 1/4/2000 to 31/3/2002 to 31/3/2001 ('000) ('000) Turnover : 494,466 509,120 Profit/(Loss) from Operations : 35,356 82,264 Finance cost : (1,586) (1,219) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 27,052 68,716 % Change over Last Period : -60.6% EPS/(LPS)-Basic : 8.67 cents 25.40 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 27,052 68,716 Final Dividend per Share : Nil 4 cents (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 28/8/2002 to 30/8/2002 bdi. Other Distribution for Current Period : Nil B/C Dates for Other Distribution : N/A Remarks: 1) The company was listed on 16 October 2000, this is not the first final results after listed on the exchange. 2) The Company was incorporated in Bermuda on 26 July 2000 as an exempted company with limited liability under the Companies Act 1981 of Bermuda. Pursuant to a reorganisation scheme to rationalise the structure of the Group in preparation for the public listing of the Company's shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in October 2000, the Company became the holding company of the companies now comprising the Group on 18 September 2000. This was accomplished by the Company acquiring the entire issued share capital of i-System Investment Company Limited ("i-System") in consideration and in exchange for the allotment and issue of a total of 1,000,000 shares of HK$0.10 each in the Company credited as fully paid to the former shareholders of i-System. 3) No change in financial year end dates. 4) Continuous operation Profit from operation is arrived at after written off of temporary structure in PRC amounted to HK$11.7 million (2001:Nil) 5) The calculation of basic earnings per share is based on the net profit attributable to shareholders for the year of HK$27,052,000 (2001: HK$68,716,000) and the weighted average of 312,000,000 shares (2001: 270,542,466 shares) in issue during the year. No diluted earnings per share for both current and prior years has been calculated as no diluting events existed during these years.