Fibocom Wireless Inc. — Interim / Quarterly Report 2002

Dec 21, 2001

Listed Company Information

LUEN TAI GROUP<00346> - Results Announcement (Summary) Luen Tai Group Limited announced on 21/12/2001: (stock code: 346) Year end date: 31/3/2002 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2001 from 1/4/2000 to 30/9/2001 to 30/9/2000 ('000) ('000) Turnover : 304,585 332,406 Profit/(Loss) from Operations : 21,048 23,359 Finance cost : (675) (850) 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 Tax & MI : 16,992 18,776 % Change over Last Period : -9.5% EPS/(LPS)-Basic : 8.5 cents 12.5 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 16,992 18,776 Interim Dividend per Share : Nil N/A (Specify if with other options) : N/A N/A B/C Dates for Interim 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. BASIS OF PRESENTATION AND PRINCIPAL ACCOUNTING POLICIES The Company was incorporated in Bermuda on 5 January 2001 as an exempted company with limited liability under the Companies Act 1981 of Bermuda. Pursuant to a group reorganisation scheme ( the "Group reorganisation") to rationalise the structure of the Group in preparation for the public listing of the Company's shares on the main board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the Company became the holding company of the companies now comprising the Group on 24 March 2001. The shares of the Company were listed on the Stock Exchange on 19 April 2001. The Group reorganisation involved companies under common control. The condensed consolidated interim financial statements for the six months ended 30 September 2001 have been prepared using the merger basis of accounting in accordance with Hong Kong Statement of Standard Accounting Practice No. 2.127 "Accounting for Group Reconstructions". Under this basis, the condensed consolidated interim financial statements for the six months ended 30 September 2001 together with the comparative figures of the corresponding period last year and the related notes thereto have also been presented in these condensed consolidated interim financial statements on the basis that the Company is treated as the holding company of its subsidiaries for the financial periods presented rather than from the subsequent date of acquisition of the subsidiaries pursuant to the Group reorganisation on 24 March 2001, or since the respective dates of their incorporation/establishment, where this is a shorter period. The condensed consolidated interim financial statements of the Group have been prepared in accordance with Hong Kong Statement of Standard Accounting Practice No. 2.125 "Interim Financial Reporting". The basis of presentation and accounting policies adopted in these condensed consolidated interim financial statements are consistent will those adopted by the Group in presenting the most recent published annual financial statements for the year ended 31 March 2001. 2. EARNINGS PER SHARE The calculation of basic earnings per share for the six months ended 30 September 2001 is based on the Group's net profit from ordinary activities attributable to shareholders for the period of approximately HK$16,992,000 (2000: HK$18,776,000) and the weighted average of 200,000,000 (2000: 150,000,000) ordinary shares in issue during the period. The diluted earnings per share for the periods ended 30 September 2000 and 2001 have not been presented as there were no potential dilutive ordinary shares in existence during either of the periods.