hmvod Limited — Earnings Release 2004

Nov 7, 2003

GEM

SYSTEK INFOTECH<08103> - Results Announcement

Systek Information Technology (Holdings) Limited announced on 07/11/2003:
(stock code: 08103 )
Year end date: 31/03/2004
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee

Important Note:

This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com

                                                    (Unaudited )
                                 (Unaudited )       Last
                                 Current            Corresponding
                                 Period             Period
                                 from 01/04/2003    from 01/04/2002
                                 to 30/09/2003      to 30/09/2002 
                           Note  ('000      )       ('000      )

Turnover 1 : 15,952 21,161
Profit/(Loss) from Operations : (848) (14,159)
Finance cost : (14) 0
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI 2 : (770) (14,159)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 3 : (0.00074) (0.01366)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (770) (14,159)
2nd Quarterly Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)

B/C Dates for
2nd Quarterly Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period

B/C Dates for Other
Distribution : N/A

For and on behalf of 
Systek Information Technology (Holdings) Limited

Name : Luk Yat Hung
Title : Chairman

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for
the accuracy of the information contained in this results announcement
form (the "Information") and confirm, having made all reasonable
inquiries, that to the best of their knowledge and belief the
Information are accurate and complete in all material respects and
not misleading and that there are no other matters the omission of
which would make the Information herein inaccurate or misleading. The
Directors acknowledge that the Stock Exchange has no responsibility
whatsever with regard to the Information and undertake to indemnify
the Exchange against all liability incurred and all losses suffered
by the Exchange in connection with or relating to the Information.

Remarks:

1 Turnover

The principal activities of the Group are the provision of systems
development and consultancy services and sale of software and hardware
products. Turnover represents income arising from the provision of
systems development and consultancy services, provision of IT
engineering and technical support services, provision of training
courses and the sales of software and hardware products.

An analysis of the turnover by principal activities of the operations of
the Group during the reporting periods is as follows:

                            Three months ended   Six months ended  
                                30 September         30 September 
                               2003      2002       2003       2002 
                            HK$'000   HK$'000    HK$'000    HK$'000

Principal activities

Systems development 1,411 7,183 8,637 13,337
Sales of software
and hardware products 215 842 2,732 1,071
Professional service fees 2,024 2,532 3,835 5,746
Training fees 402 453 748 1,007

                              4,052    11,010     15,952     21,161

2 Loss from operations

Loss from operations is stated after charging/(crediting):

                             Three months ended    Six months ended  
                                30 September        30 September 
                               2003      2002       2003       2002 
                            HK$'000   HK$'000    HK$'000    HK$'000

Auditors' remuneration 67 150 145 300
Depreciation 299 636 756 1,265
Finance costs
Bank interests 3 - 14 -
Operating leases 483 1,367 1,190 2,706
Retirement benefit costs 101 - 101 -
Net exchange (gain)/loss (5) 27 (350) 11

3 Loss per share

The calculation of basic loss per share for the three months and six
months ended 30 September, 2003 was based on the loss attributable to
the shareholders of approximately of HK$572,000 and HK$770,000 (2002:
loss of HK7,099,000 and HK$14,159,000) divided by the weighted average
number of 1,036,375,000 (2002: 1,036,375,000) shares in issue during the
year.

There were no potential dilutive ordinary shares in issue during the
three months and six months ended 30 September, 2003 and 2002.