Genesis Scale Holdings Limited — Earnings Release 2000

Jun 16, 2000

Listed Company Information

CLIMAX INT'L<0439> - Results Announcement Climax International Company Limited announced on 16/6/2000: (stock code: 439) The accounts which contain the following results are qualified by the Company's auditor. For more details, please refer to the press announcement to be issued by the Company on 19/6/2000. Year end date: 31/3/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 325,905 482,466 - Discontinued : 719 97,391 Operating Profit/(Loss) - Continuing : (54,396) (126,842) - Discontinued : 3,696 12,562 Total Operating Profit/(Loss) : (50,700) (114,280) Share of Profit/(Loss) of Associated Companies : Nil Nil Share of Profit/(Loss) of Jointly Controlled Entities : Nil Nil Profit/(Loss) after Tax & MI : (51,164) (112,378) % Change over Last Period : N/A EPS/(LPS)-Basic : (13.6 cents) (30.0 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (51,164) (112,378) 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 Annual General Meeting : 24/7/2000 to 28/7/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Relevant items arising from continuing operations 2000 1999 HK$'000 HK$'000 Provision for redundancy and severance (4,706) (2,296) payments Provision for early termination of an (1,673) - operating lease for rented premises Provision for doubtful debts and deposits paid - (12,389) Net loss on disposal of investment properties - (7,560) Loss on disposal of property held for sale - (1,925) Penalty paid for early termination of an - (1,191) operating lease for machinery Write-off of leasehold land in the People's - (23,049) Republic of China Provision for slow-moving and obsolete inventories - (31,400) Provision for redundancy and severance payments - (2,732) --------- --------- (6,379) (82,542) ====== ======= Loss from ordinary activities of continuing operations not including in above were respectively HK$48,017,000 and HK$44,300,000 for the current period and for the last corresponding period. (2) Relevant items arising from discontinued operations 2000 1999 HK$'000 HK$'000 Gain on winding up of a subsidiary in Singapore, net of the realisation of translation reserve of HK$145,000 3,852 - Gain on disposal of a subsidiary - 28,611 -------- -------- 3,852 28,611 ====== ====== Loss from ordinary activities of continuing operations not including in above were respectively HK$156,000 and HK$16,049,000 for the current period and for the last corresponding period. (3) Loss per share The calculation of loss per share is based on the net loss for the year of HK$51,164,000 (1999: HK$112,378,000) and the weighted average of 374,990,800 (1999: 374,990,800) shares in issue during the year. No diluted loss per share has been presented as the exercise price of the Company's outstanding share options was higher than the average market price of the Company's shares for both years. (4) Changes of figures in last corresponding period The figures of turnover and operating loss for the last corresponding period have been split into "Continuing" and "Discontinued" to conform to current year's presentation.