Fibocom Wireless Inc. — Earnings Release 2001

Jul 26, 2001

Listed Company Information

LUEN TAI GROUP<0346> - Results Announcement (Summary) Luen Tai Group Limited announced on 26/7/2001: (stock code: 346) Year end date: 31/3/2001 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/4/2000 from 1/4/1999 to 31/3/2001 to 31/3/2000 ('000) ('000) Turnover : 670,180 483,605 Profit/(Loss) from Operations : 51,358 36,852 Finance cost : (1,114) (1,302) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Taxation & MI : 42,060 29,436 % Change over Last Period : +42.9% EPS/(LPS)-Basic : 28.0 cents 19.6 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 42,060 29,436 Final Dividend per Share : Nil N/A (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 Annual General Meeting : 28/8/2001 to 30/8/2001 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: BASIS OF PRESENTATION AND CONSOLIDATION The Group reorganisation involved companies under common control. The consolidated financial statements have been prepared using the merger basis of accounting in accordance with Statement of Standard Accounting Practice ("SSAP") No. 2.127 "Accounting for Group Reconstruction" as a result of the Group reorganisation completed on 24 March 2001. 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 its acquisition of the subsidiaries. Accordingly, the consolidated results of the Group for the years ended 31 March 2000 and 2001 include the results of the Company and its subsidiaries with effect from 1 April 1999 or since the respective dates of their incorporation or establishment, where this is a shorter period. The comparative consolidated balance sheet as at 31 March 2000 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 the state of affairs of the Group as a whole. All significant intercompany transactions and balances within the Group have been eliminated in the preparation of the consolidated financial statements. Comparative amounts have not been presented for the Company because the Company did not exist as at 31 March 2000. These financial statements have been prepared in accordance with SSAPs, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention.