Emperor Capital Group Ltd. — Earnings Release 2000

Apr 24, 2001

Listed Company Information

LUKS IND(GROUP)<0366> - Results Announcement Luks Industrial (Group) Limited announced on 23/4/2001: (stock code: 366) Year end date: 31/12/2000 Currency: HKD (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 : 121,949 103,625 Profit/(Loss) from Operations : (620,407) 824,643 Finance cost : (23,296) (28,603) Share of Profit/(Loss) of Associates : (1,763) - Share of Profit/(Loss) of Jointly Controlled Entities : (23,040) (21,419) Profit/(Loss) after Tax & MI : (666,142) 794,434 % Change over Last Period : N/A EPS/(LPS)-Basic : ($1.96) $2.54 -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (666,142) 794,434 Final Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A 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. GROUP REORGANIZATION The Company was incorporated in Bermuda on 16 November 2000 as an exempted company with limited liability under the Company Act 1981 of Bermuda (as amended). Upon the implementation of the Reorganization Scheme (the "Scheme"), the listing of the shares of Luks Industrial Company Limited ("LICL") on the Stock Exchange of Hong Kong Limited (the "Stock Exchange") was withdrawn and the shares of the Company was listed on the Stock Exchange with effective on 4 April 2001. As a result of the Scheme, the shareholders of LICL received the Company's shares in exchange for their shares holdings in LICL, and LICL became a 100% wholly owned subsidiary of the Company. The consolidated financial statements of the Company have been prepared using the merger basis of accounting as a result of the Group Reorganization set out in above. Under this basis, the Company has been treated as the holding company of its subsidiaries for the financial years presented rather than from the date of acquisition of the subsidiaries. Accordingly, the consolidated results of the Group for the year ended 31 December 2000 include the results of the Company and its subsidiaries with effect from 1 January 2000. The comparative consolidated balance sheet as at 31 December 1999 has been prepared on the basis that the existing Group had been in place at that date. In the opinion of the directors, the consolidated financial statements prepared on the above basis present more fairly the results and state of affairs of the Group as a whole. 2. EARNINGS/LOSS PER SHARE The calculation of basic earnings/(loss) per share is based on the net loss from ordinary activities attributable to shareholders for the year of HK$666,142,000 (1999: net profit of HK$794,434,000) and the weighted average of 340,094,000 (1999: 312,168,000) ordinary shares in issue during the year. The diluted earnings/(loss) per share for the years ended 31 December 2000 and 31 December 1999 have not been calculated as the company's options would have resulted in an anti-dilutive effect. 3. COMPARATIVE AMOUNTS Certain comparative amounts have been reclassified to conform with the current year's presentation. For more details, please refer to the press announceement today.