Coolpad Group Limited — Earnings Release 2004

Apr 12, 2005

Listed Company Information

Listed Company Information
CHINA WIRELESS<02369> - Results Announcement China Wireless Technologies Limited announced on 12/04/2005: (stock code: 02369 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000 ) ('000 ) Turnover : 245,545 151,808 Profit/(Loss) from Operations : 53,243 41,840 Finance cost : (2,048) (1,834) Share of Profit/(Loss) of Associates : N/A (40) Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 43,667 36,863 % Change over Last Period : +18 % EPS/(LPS)-Basic (in dollars) : 0.14 0.12 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 43,667 36,863 Final Dividend : $0.02 N/A per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 09/05/2005 to 13/05/2005 bdi. Payable Date : 30/05/2005 B/C Dates for Annual General Meeting : 09/05/2005 to 13/05/2005 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1.Basis of preparation The Company was listed on the Stock Exchange on 9 December 2004.These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, (which also include Statements of Standard Accounting Practice ("SSAP") and Interpretations) issued by HKICPA, accounting principles generally accepted in Hong Kong and the disclosure requirement of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention, except for the periodic remeasurement, as further explained below. 2 .Turnover For the year ended 31 December 2004, the Group accomplished a turnover of HK$245,545,000, a growth of 61.7% over that of 2003. The increase was the result of a shift of business focus to smartphone products in response to market demand, which led to a sharp surge in smartphone sales from HK$18, 086,000 in 2003 to HK$175,399,000 in 2004. In terms of revenue mix, turnover from smartphones accounted for 71% of the Group's turnover in 2004, as compared with 12% in 2003. Contribution from sales of wireless coverage system decreased from 19% of the Group's turnover in 2003 to 11% in 2004, while that of integrated telecom business platform decreased from 11% in 2003 to 4% in 2004. Sales from other terminal products accounted for 14% of the turnover for the period under review, as compared with 58% in 2003. The significant change in revenue mix was attributable to the upgrading of the Group's wireless terminal products and the changing environment for the market and technologies developments. 3.EARNINGS PER SHARE The calculation of basic earnings per share for the year is based on the net profit from ordinary activities attributable to shareholders for the year of HK$43,667,000 (2003: HK$36,863,000) and the weighted average of 306,301,370 (2003: 300,000,000) ordinary shares. No diluted earnings per share amounts have been presented as the Company did not have any dilutive potential ordinary shares during the year.