CTF Services Limited — Earnings Release 2002

Apr 28, 2003

Listed Company Information

CENTRAL CHINA<00351> - Results Announcement Central China Enterprises Limited announced on 28/4/2003: (stock code: 00351 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/1/2002 from 1/1/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 1,606 126,817 Profit/(Loss) from Operations : (67,861) (49,439) Finance cost : (1,912) (8,637) Share of Profit/(Loss) of Associates : (13,593) (21,781) Share of Profit/(Loss) of Jointly Controlled Entities : N/A (1,085) Profit/(Loss) after Tax & MI : (147,980) (76,302) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0556) (0.0286) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (147,980) (76,302) Final Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A 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. Turnover from continuing operations and discontinuing 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: 2002 2001 HK$'000 HK$'000 Continuing operations: Software design and development 1,250 - Internet software services 356 285 Return from a power plant in the PRC (note below) - 374 Return from an investment in a motor spare parts business in the PRC (note below) - - ---------- -------- 1,606 659 Discontinuing operations: Manufacture and sale of coke, coal gas, coal tar and benzene - 99,919 Automobile repair and maintenance services - 26,239 --------- --------- 1,606 126,817 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 discontinuing operations 2002 2001 HK$'000 HK$'000 Continuing operations: Software design and development (16,377) - Internet software services (64) (3,241) Return from a power plant in the PRC (504) (130) Return from an investment in a motor spare parts business in the PRC - (10) Unallocated corporate expenses (50,916) (58,420) --------- --------- (67,861) (61,801) Discontinuing operations: Manufacture and sale of coke, coal gas, coal tar and benzene - 10,062 Automobile repair and maintenance services - 2,300 ---------- ---------- (67,861) (49,439) ========= ========= 3. Loss per share The calculation of loss per share is based on net loss for the year of approximately HK$147,980,000 (2001: HK$76,302,000) and 2,663,370,147 shares (2001: 2,663,370,147 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.