Dongyue Group Limited — Earnings Release 2002

Jul 16, 2002

Listed Company Information

HERALD HOLD<00114> - Results Announcement (Summary) Herald Holdings Limited announced on 16/7/2002: (stock code: 114) Year end date: 31/3/2002 Currency: HKD Auditors' Report: Unqualified Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/4/2001 from 1/4/2000 to 31/3/2002 to 31/3/2001 Turnover : 867,062,000 953,884,000 Profit/(Loss) from Operations : (27,588,000) 16,647,000 Finance cost : (660,000) (1,315,000) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : 343,000 531,000 Profit/(Loss) after Tax & MI : (32,416,000) 8,673,000 % Change over Last Period : N/A EPS/(LPS)-Basic : (5.19 cents) 1.39 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : NIL NIL Profit/(Loss) after ETD Items : (32,416,000) 8,673,000 Final Dividend per Share : 1 cent NIL (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : 17/9/2002 to 18/9/2002 bdi. Payable Date : 26/9/2002 B/C Dates for Annual General Meeting : 17/9/2002 to 18/9/2002 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. Turnover and profit for the year come from continuing operations only. 2. (Loss)/earnings per share The calculation of basic (loss)/earnings per share is based on the net loss for the year attributable to ordinary shareholders of HK$32,416,000 (2001: net profit of HK$8,673,000) and on 624,934,000 (2001: 625,826,000) ordinary shares, being the weighted average number of ordinary shares outstanding during the year. There were no dilutive potential ordinary shares in existence during the years ended 31 March 2002 and 2001. 3. Following the adoption of the new Statement of Standard Accounting Practice ("SSAP") 31 on Impairment of assets, the Group assessed the recoverable amount of its land and buildings at 31 March 2002 and recognised impairment losses of HK$31,894,000 (2001: nil). 4. The Group also recognised deficits on revaluation of its investment properties amounting to HK$5,009,000 at 31 March 2002 (2001: nil).