FIH Mobile Limited — Earnings Release 2005

Mar 20, 2006

Listed Company Information

Listed Company Information
PETROCHINA<00857> - Results Announcement PetroChina Company Limited announced on 20/03/2006: (stock code: 00857 ) Year end date: 31/12/2005 Currency: RMB Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 31/12/2005 to 31/12/2004 Note ('Million ) ('Million ) Turnover : 552,229 397,354 Profit/(Loss) from Operations : 192,171 151,138 Finance cost : (750) (1,515) Share of Profit/(Loss) of Associates : 2,401 1,621 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 133,362 103,843 % Change over Last Period : +28.4 % EPS/(LPS)-Basic (in dollars) : 0.75 0.59 -Diluted (in dollars) : 0.75 0.59 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 133,362 103,843 Final Dividend : RMB 0.180325 RMB 0.147511 per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 26/04/2006 to 26/05/2006 bdi. Payable Date : 09/06/2006 B/C Dates for Annual General Meeting : 26/04/2006 to 26/05/2006 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Basic and diluted earnings per share for the year ended December 31, 2005 have been computed by dividing profit for the year attributable to equity holders of PetroChina Company Limited (the "Company") by the weighed average number of 176.77 billion shares issued and outstanding for the year. Basic and diluted earnings per share for the year ended December 31, 2004 have been computed by dividing profit for the year attributable to equity holders of the Company by the number of 175.82 billion shares issued and outstanding for the year. There are no dilutive potential ordinary shares. 2. As authorized by shareholders in the Annual General Meeting on May 26, 2005, the Board of Directors, in a meeting held on August 24, 2005, resolved to distribute an interim dividend attributable to equity holders of the Company in respect of 2005 of RMB 0.157719 per share amounting to a total of RMB 27,731 million. The interim dividend was paid on September 30, 2005, and was accounted for in equity as an appropriation of retained earnings in the year ended December 31, 2005. 3. (1) In 2005, the Group adopted the new revised IFRS, which are relevant to its operations. The 2004 comparative numbers have been amended as required, in accordance with the relevant requirements. The adoption of the IFRS revisions did not result in substantial changes to the Group's accounting policies. In summary: IAS 1 and 27 (both revised in 2003) affected the presentation of minority interests. IAS 1 (revised in 2003) has also affected the presentation of share of profit of associates and required the disclosure of critical accounting estimates. IAS 2, 8, 10, 16, 17, 21, 32, 33 (all revised in 2003) and 39 (revised in 2004) and IFRS 2 have no material effect on the Group's accounting policies. IAS 24 (revised in 2003) affected the definition of related parties and related-party disclosures. IAS 27 and 28 (both revised in 2003) affected the accounting for investments in subsidiaries and associates in the separate financial statement of the Company. These investments are accounted for at cost rather than using equity method, which was used in prior years. As a result, the balance sheet of the Company as of December 31, 2004 and the related notes that are included in the financial statement, proposed to be submitted by the Company to The Stock Exchange of Hong Kong Limited (" HKSE") and published on the website of the HKSE on or before April 30, 2006, have been restated. Compared with the previously reported numbers, Investment in associates, Subsidiaries, Reserves and Retained earnings as of December 31, 2004 have been reduced by RMB 1,897 million, RMB 46,302 million and RMB 56 million and RMB 48,143 million, respectively, to reflect this restatement. IFRS 5 has resulted in a change in the accounting policy relating to the recognition of assets held for sale or discontinued operations, which did not have any material impact on the results of operations and financial positions of the Group as the Group did not hold any material assets in this category during the periods presented. The Group has adopted IFRS 6, which did not require any change in the accounting policy for exploration and evaluation activities. (2) In accordance with the acquisition agreement between the Company and China National Petroleum Corporation ("CNPC") dated March 28, 2005, the Company acquired the refinery and petrochemical businesses owned by CNPC's wholly-owned subsidiaries, Ningxia Dayuan Refinery and Petrochemical Company Limited ("Dayuan") and Qingyang Refinery and Petrochemical Company Limited ("Qingyang"). The acquisition is a combination of businesses under common control since the Company and the CNPC's refinery and petrochemical businesses owned by Dayuan and Qingyang are under the common control of CNPC. As a result, the Company has accounted for the acquisition in a manner similar to a uniting of interests, whereby the assets and liabilities acquired are accounted for at historical cost to CNPC (net liabilities of RMB 183 million at the effective date of the acquisition). The consolidated financial statements have been restated to give effect to the acquisition with all periods presented as if the operations of the Group and these refinery and petrochemical businesses have always been combined. The difference between RMB 9 million payable and the net liabilities transferred from CNPC has been adjusted against equity. (3) In August 2005 the shareholders of the Company approved the acquisition and transfer agreements relating to the Company's acquisition of a 50% ownership interest in (Zhong You Kan Tan Kai Fa Company Limited) ("Newco"). Newco was formed in 2005 and was wholly owned by China National Oil and Gas Exploration and Development Corporation ("CNODC", wholly owned by CNPC) and one of its subsidiaries. Under the terms of the related agreements, CNODC transferred certain overseas oil and gas exploration operations into Newco and the Company contributed to Newco its wholly-owned subsidiary, PetroChina International Limited ("PTRI"), and cash amounting to approximately RMB 20,162 million, which is the difference between the cash contribution of RMB 20,741 million payable by the Company according to the acquisition agreement and cash consideration of RMB 579 million for PTRI receivable by the Company. The terms of the agreements grant the Company the right to appoint four of the seven directors of Newco and enable the Company to maintain effective control over Newco. Similar to the acquisition of the refinery and petrochemical businesses from CNPC described above, the investment in Newco and related transactions have been accounted for in a manner similar to uniting of interests as all entities involved are under common control by CNPC. The consolidated financial statements of the Company have been restated as if the operations of the Company and Newco have always been combined. The payment was made directly to Newco, therefore the difference between RMB 20,162 million paid and the net assets of RMB 35,551 million at the effective date of the acquisition (including RMB 20,162 million contributed by the Company and RMB 50 million by CNODC and its subsidiary) has been adjusted against equity.