CTF Services Limited — Earnings Release 2000

Apr 26, 2001

Listed Company Information

CENTRAL CHINA<0351> - Results Announcement Central China Enterprises Limited announced on 26/4/2001: (stock code: 351) Year end date: 31/12/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 31/12/2000 to 31/12/1999 ('000) ('000) Turnover : 142,122 146,184 Profit/(Loss) from Operations : (78,132) 17,934 Finance cost : (8,543) (7,952) Share of Profit/(Loss) of Associates : (12,535) (10,454) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (425,420) (290) % Change over Last Period : N/A EPS/(LPS)-Basic : (19.53 cents) (0.02 cent) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (425,420) (290) Final Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Final 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. Impairment losses 2000 HK$'000 Impairment losses recognized in respect of: Property, plant and equipment (127,000) Goodwill on acquisition of subsidiaries (98,169) Guaranteed income investments (93,063) Investment securities (4,000) --------- (322,232) The directors considered that there had been an impairment loss on goodwill arising on acquisition of subsidiaries as the estimated future cash flows to be generated from these subsidiaries were expected to be negligible. 2. Loss per Share The calculation of loss per share is based on the loss for the year of HK$425,420,000 (1999: HK$290,000) and a weighted average of 2,178,479,003 shares (1999: 1,583,112,808 shares) in issue during the year. No diluted loss per share has been calculated as the exercise of the share options would result in a decrease in loss per share for both 1999 and 2000.