Comtec Solar Systems Group Limited — Interim / Quarterly Report 2004

Dec 19, 2003

Listed Company Information

SUN EAST TECH<00365> - Results Announcement Sun East Technology (Holdings) Limited announced on 19/12/2003: (stock code: 00365 ) Year end date: 31/03/2004 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/04/2003 from 01/04/2002 to 30/09/2003 to 30/09/2002 Note ('000 ) ('000 ) Turnover : 224,756 271,905 Profit/(Loss) from Operations : 19,856 (17,858) Finance cost : (581) (1,030) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 18,006 (20,441) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.0577 0.0655 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 18,006 (20,441) Interim Dividend : 1.2 cents NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 27/01/2004 to 30/01/2004bdi. Payable Date : 10/02/2004 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) The consolidated interim financial statements have been prepared in accordance with Statement of Standard Accounting Practice No.25 "Interim financial reporting" issued by the Hong Kong Society of Accountants. The accounting policies and methods of computation used in the preparation of the interim financial statements are consistent with those used in the Group's annual financial statements for the year ended 31 March 2003. In the current period, the Group adopted SSAP 12 (Revised) "Income Taxes". The principal effect of the implementation of SSAP 12 (Revised) is in relation to deferred tax. In previous years, partial provision was made for deferred tax using the income statement liability method, i.e. a liability was recognized in respect of timing differences arising, except where those timing differences were not expected to reverse in the foreseeable future. SSAP 12 (Revised) requires the adoption of a balance sheet liability method, whereby deferred tax is recognized in respect of all temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit with limited exceptions. In the absence of any specific transitional requirements in SSAP 12 (Revised), the new accounting policy has been applied retrospectively. The adoption of this standard has had no material effect on the results for the prior accounting periods. Accordingly, no prior period adjustment has been required. (2) The calculation of earnings per share is based on the net profit from ordinary activities attributable to shareholders for the period of approximately HK$18,006,000 (2002: loss of HK$20,441,000), and the issued share capital of 312,000,000 (2002: 312,000,000 shares). Diluted earning per share has not been calculated as no diluting event existed during the period.