Glorious Sun Enterprises Limited — Earnings Release 2000

Sep 22, 2000

Listed Company Information

SHENYIN WANGUO<0218> - Results Announcement Shenyin Wanguo (H.K.) Limited announced on 22/9/2000: (stock code: 218) Year end date: 31/12/2000 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 30/6/2000 to 30/6/1999 ('000) ('000) Turnover : 161,383 90,121 Profit/(Loss) from Operations : 7,733 305 Finance cost : (2,880) (4,252) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : 10,590 7,541 Profit/(Loss) after Tax & MI : 13,817 4,248 % Change over Last Period : +225% EPS/(LPS)-Basic : 2.66 cents 0.82 cent -Diluted : 2.66 cents N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 13,817 4,248 Interim Dividend per Share : Nil Nil (Specify if with other options) : - - 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 : Nil B/C Dates for Other Distribution : N/A Remarks: 1. Tax 2000 1999 HK$'000 HK$'000 The Company and its subsidiaries Hong Kong and the People's Republic of China (the "PRC") tax Over-provision in prior year - 1,908 Jointly-controlled entities Hong Kong and the PRC tax Provision for the period (1,242) (532) Deferred tax (384) (400) ---------------------- (1,626) 976 ===================== No Hong Kong profits tax has been provided since the Group companies either did not generate any profits arising in Hong Kong or had available tax losses brought forward to offset the assessable profits generated. (1999: Nil) Tax on the profits of jointly-controlled entities operating in the PRC have been calculated at the rates prevailing in the jurisdictions in the PRC, based on the existing law, practices and interpretations in respect thereof. 2. Earnings per share (a) Basic earnings per share The calculation of basic earnings per share is based on the net profit attributable to shareholders of HK$13,816,676 (1999: HK$4,247,607) and the weighted average of 519,319,566 (1999: 516,203,104) shares in issue during the period. (b) Diluted earnings per share The calculation of diluted earnings per share is based on the net profit attributable to shareholders of HK$13,816,676. The weighted average number of ordinary shares used in the calculation comprises the 519,319,566 ordinary shares in issue during the period, as used in the basic earnings per share calculation, and the weighted average of 11,701 ordinary shares assumed to have been issued at no consideration on the deemed exercise of all options outstanding during the period. Diluted earnings per share in the last period reflecting the exercise of all outstanding options was not presented because the impact was anti-dilutive. 3. Comparative amounts Due to the adoption of new Statements of Standard Accounting Practice, certain comparative amounts have been reclassified to conform with the current period's presentation.