CTF Services Limited — Earnings Release 2000

Sep 28, 2000

Listed Company Information

CENTRAL CHINA<0351> - Results Announcement Central China Enterprises Limited announced on 28/9/2000: (stock code: 351) Year end date: 31/12/2000 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 30/6/2000 to 30/6/1999 ('000) ('000) Turnover : 79,396 57,738 Profit/(Loss) from Operations : (85) 11,322 Finance cost : (3,762) (3,360) Share of Profit/(Loss) of Associates : 5,982 2 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 3,773 7,595 % Change over Last Period : -50.3% EPS/(LPS)-Basic : 0.20 cent 0.48 cent -Diluted : 0.20 cent 0.48 cent Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 3,773 7,595 Interim Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Turnover represents the net invoiced value of goods sold and investment income accrued or received. (2) Taxation Six months ended 30/6/2000 30/6/1999 HK$'000 HK$'000 Hong Kong Profits Tax - - Overseas taxation 372 368 -------- -------- 372 368 ======== ======== No provision for Hong Kong profits tax has been made as there was no assessable profit generated during the period. Overseas taxation was accrued for profits arising in the People's Republic of China (the "PRC") and was calculated at the rates under the applicable taxation rules of the PRC. (3) Earnings per share The calculation of basic and diluted earnings per share is based on the following: Six months ended 30/6/2000 30/6/1999 HK$'000 HK$'000 Earnings Profits for the period 3,773 7,595 ======= ======= Number of Shares Weighted average number of ordinary shares for the calculation of basic earnings per share 1,895,718,716 1,579,656,000 Effect of dilutive potential ordinary shares - Options 36,404,768 12,338,099 ------------------------------ Weighted average number of ordinary shares for the calculation of diluted earnings per share 1,932,123,484 1,591,994,099 ============ ============ (4) Basis of presentation In the current period, the Group has adpoted the following Statements of Standard Accounting Practice ("SSAPs") issued by the Hong Kong Society of Accountants: SSAP1 (Revised) Presentation of financial statements SSAP2 (Revised) Net profit or loss for the period, fundamental errors and changes in accounting policies SSAP 10 (Revised) Accounting for investments in associates SSAP 24 Accounting for investments in securities The comparative figures for the period ended 30 June, 2000 have been modified in order to conform with the requirements of the above mentioned SSAPs for consistency.