Great Eagle Holdings Limited — Earnings Release 2001

Mar 26, 2002

Listed Company Information

TIAN AN<00028> - Results Announcement (Summary) Tian An China Investments Company Limited announced on 26/3/2002: (stock code: Ord: 28 & War: 390) Year end date: 31/12/2001 Currency: HK$ Auditors' Report: Neither Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 299,273 966,733 Profit/(Loss) from Operations : 65,396 133,702 Finance cost : (39,161) (30,260) Share of Profit/(Loss) of Associates : 2,041 904 Share of Profit/(Loss) of Jointly Controlled Entities : 116,809 47,472 Profit/(Loss) after Tax & MI : 102,782 67,919 % Change over Last Period : +51% EPS/(LPS)-Basic : 1.2 cents 1.4 cents -Diluted : 1.2 cents 1.4 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 102,782 67,919 Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: 1. Turnover represents the aggregate of proceeds on the sale of development properties, rental income, interest income on instalments receivable, income from property management, commission from agency services and sales of construction material. 2. Profit from operations for both year includes the share of results of jointly controlled entities because the jointly controlled entities are mainly engaged in property development and investment. 3. Earnings per share The calculation of basic and diluted earnings per share is based on the following data: 2001 2000 HK$'000 HK$'000 Earnings Earnings for the purposes of basic earnings per share 102,782 67,919 Effect of dilutive potential ordinary shares: Adjustment to the share of result of a subsidiary based on dilution of its earnings per share (160) - ---------- ---------- Earnings for the purpose of dilutive earnings per share 102,622 67,919 ======== ======= 2001 2000 Number of Shares Weighted average number of ordinary shares for the purposes of basic earnings per share 8,490,678,716 4,899,739,368 Effect of dilutive potential ordinary shares: Warrants (expiring on 25th February 2000) - 26,627,724 -------------- ------------- Weighted average number of ordinary shares for the purposes of diluted earnings per share 8,490,678,716 4,926,367,092 ============= ============= There was no bonus element in the rights issue approved on 13th October, 2000. Accordingly, no adjustment is made on the number of ordinary shares issued in calculating the basic earnings per share for the year. The computation of diluted earnings per share for the year does not assume the conversion of the Company's outstanding convertible loan notes since their exercise would result in an increase in earnings per share. The computation of diluted earnings per share for the year ended 31st December, 2001 does not assume the exercise of the company's options and warrants as the exercise prices are higher than the average market price for shares. The computation of diluted earnings per share for the year ended 31st December 2000 does not assume the exercise of the company's outstanding share options and other warrants as the exercise prices are higher than the average market price per share. 4. Comparative figures Certain comparative figures have been realigned to conform with the current year's presentation.