CTF Services Limited — Earnings Release 2001

Apr 26, 2002

Listed Company Information

CENTRAL CHINA<00351> - Results Announcement (Summary) Central China Enterprises Limited announced on 26/4/2002: (stock code: 351) Year end date: 31/12/2001 Currency: HKD Auditors' Report: Neither Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 126,817 142,122 Profit/(Loss) from Operations : (49,439) (78,132) Finance cost : (8,637) (8,543) Share of Profit/(Loss) of Associates : (21,781) (12,535) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (76,302) (425,420) % Change over Last Period : N/A EPS/(LPS)-Basic : (2.86 cents) (19.53 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (76,302) (425,420) 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. Turnover from continuing operations and discontinued operations Turnover represents the amount received and receivable for goods sold to outside customers, less returns and allowance, service income and guaranteed return for the year, and is analysed as follows: 2001 2000 HK$'000 HK$'000 Continuing operations: Internet software services 285 1,272 Return from a power plant in the People's Republic of China ("PRC") 374 3,738 Return from an investment in a motor spare parts business in the PRC (note) - 234 -------- -------- 659 5,244 ======== ======== Discontinued operations: Manufacture and sale of coke, coal gas, coal tar and benzene 99,919 99,618 Automobile repair and maintenance services 26,239 37,260 --------- --------- 126,817 142,122 ========= ========= Note: No return has been recognised in the current year as the recoverability of the guaranteed return for the current year is considered by the directors to be uncertain. 2. Profit/(loss) from continuing operations and discontinued operations 2001 2000 HK$'000 HK$'000 Continuing operations: Internet software services (3,241) (5,483) Return from a power plant in the People's Republic of China ("PRC") (130) (2,388) Return from an investment in a motor spare parts business in the PRC (10) (49) Unallocated corporate expenses (58,420) (63,745) ---------- --------- (61,801) (71,665) ========== ========= Discontinued operations: Manufacture and sale of coke, coal gas, coal tar and benzene 10,062 (6,737) Automobile repair and maintenance services 2,300 270 ----------- --------- (49,439) (78,132) =========== ========= 3. Loss per share The calculation of loss per share is based on net loss for the year of approximately HK$76,302,000 (2000: HK$425,420,000) and 2,663,370,147 shares (2000: a weighted average of 2,178,479,003 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 years.