G-Resources Group Limited — Earnings Release 2000

Oct 31, 2000

Listed Company Information

STAR CYBERPOWER<1051> - Results Announcement Star Cyberpower Holdings Limited announced on 30/10/2000: (stock code: 1051) The auditors' report on the financial statements which contain the following result is qualified by the Company's auditors. For more details, please refer to the press announcement issued by the Company on 31/10/2000. Year end date: 30/6/2000 Currency: HK$ (Audited) (Audited) 15-Month 12-Month Period Period from 1/4/1999 from 1/4/1998 to 30/6/2000 to 31/3/1999 ('000) ('000) Turnover : 13,810 109,825 Profit/(Loss) from Operations : (20,360) (71,602) Finance cost : (1,335) (8,135) Share of Profit/(Loss) of Associates : (31,358) (17,100) Share of Profit/(Loss) of Jointly Controlled Entities : Nil Nil Profit/(Loss) after Tax & MI : 34,220 (499,717) % Change over Last Period : N/A EPS/(LPS)-Basic : 1.99 cents (42.05 cents) -Diluted : 1.89 cents Nil Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : 34,220 (499,717) Final Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 13/12/2000 to 15/12/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1) Adoption of Statements of Standard Accounting Practice ("SSAP"s) In the current year, the Company has adopted SSAP 1 (Revised) in relation to the Presentation of financial statements to which last year's comparative figures were re-classified. 2) Change of financial year end date The Company has changed its financial year end date as announced on 20 July 2000, the results as disclosed will cover fifteen months ended 30 June 2000 with the comparative figures for twelve months ended 31 March 1999. 3) Earnings (Loss) per share The calculation of the basic earnings (loss) per share is based on the profit (loss) for the period from 1st April, 1999 to 30th June 2000 of HK$34,220,000 (1.4.1998 to 31.3.1999 : loss of HK$499,717,000) and on the weighted average number of 1,719,225,884 (1.4.1998 to 31.3.1999: weighted average number of 1,188,387,810) ordinary shares in issue after adjustment for the Share Consolidation. The diluted earnings per share for the period from 1st April, 1999 to 30th June, 2000 is based on the profit for the period of HK$34,220,000 and on the adjusted weighted average number of 1,806,370,942 ordinary shares in issue during the period, after adjustment for the effect of dilutive potential ordinary shares on unexercised share options during the period. No disclosure of the diluted loss per share for the year ended 31st March, 1999 is shown as the exercise prices of the share options were greater than the market prices of the Company's shares during that period. 4) Taxation 1.4.1999 1.4.1998 to to 30.6.2000 31.3.1999 HK$ HK$ The (charge) credit comprises: Underprovision of Hong Kong Profits Tax in prior year (129) Overprovision in overseas taxation in prior year - 479 ----------------------------- (129) 479 ======== ===== No provision for taxation has been made in the financial statements as the Group had incurred a tax loss for the period from 1st April, 1999 to 30th June, 2000 and the year ended 31st March, 1999. (5) Profit / (Loss) from Operations 1.4.1999 1.4.1998 to to 30.6.2000 31.3.1999 HK$'000 HK$'000 Loss from operations has been arrived at after charging: Staff costs: Directors' remuneration 3,730 4,633 Other staff costs 2,948 3,814 --------------------- 6,678 8,447 Auditors' remuneration: Current year 900 1,040 Overprovision in prior year (49) - Depreciation: Owned assets 4,015 8,954 Assets held under hire purchase contracts 23 511 Loss on disposal of property, plant and equipment 612 8,100 Operating lease payments in respect of rented premises 1,991 3,506 Unrealised loss on investments in securities - 6,233 Write-off of pre-operating expenses - 3,266 and after crediting: Interest income 202 293 Rental income from properties under operating leases, net of outgoings of HK$15,000 (1999: HK$41,000) 65 - ===================== For more details, please refer to the press announcement today.