hmvod Limited — Earnings Release 2004

Aug 7, 2003

GEM

SYSTEK INFOTECH<08103> - Results Announcement

Systek Information Technology (Holdings) Limited announced on 07/08/2003:
(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 30/06/2003      to 30/06/2002 
                           Note  ('000      )       ('000      )

Turnover 1 : 11,900 10,151
Profit/(Loss) from Operations : (188) (7,059)
Finance cost : (10) (1)
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 : (198) (7,060)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 3 : (0.19) (6.81)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (198) (7,060)
1st Quarterly Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)

B/C Dates for
1st 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 sales 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  
                                         30 June 
                                       2003       2002 
                                    HK$'000    HK$'000

Principal activities

Systems development 6,781 5,830
Sales of software and hardware products 2,517 229
Professional service fees 1,811 3,213
Training fees 346 553
Technical support fees 445 326

                                     11,900     10,151

1. Loss from ordinary activities before taxation

Loss from ordinary activities before taxation is arrived at after
crediting and charging:

                                    Three months ended  
                                         30 June 
                                       2003       2002 
                                    HK$'000    HK$'000

Crediting

Interest income 1 13

Charging

Staff costs 6,945 10,174
Operating lease rentals - properties 708 1,095
Pre-operating costs written off - 28
Amortisation of deferred assets - 24
Auditors' remuneration 120 150
Loss on disposal of fixed assets 5 -
Depreciation 459 710

1. Loss per share

The calculation of basic loss per share for the three months ended
30 June 2003 was based on the loss attributable to the shareholders
of approximately of HK$198,000 (2002: HK$7,060,000) divided by the
weighted average number of 1,036,375,000 (2002: 1,036,375,000)
shares in issue during the period.

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