Hung Hing Printing Group Limited — Earnings Release 2000

Apr 2, 2001

Listed Company Information

ECYBERCHINA.NET<0254> - Results Announcement eCyberChina.net Limited announced on 30/3/2001: (stock code: 254) The auditors' report on the financial statements which contain the following result is modified by the Company's auditors. For more details, please refer to the press announcement issued by the Company on 2/4/2001. Year end date: 30/6/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/7/1999 from 1/7/1998 to 30/6/2000 to 30/6/1999 ('000) ('000) Turnover : 16,134 288,118 Profit/(Loss) from Operations : (98,636) (215,214) Finance cost : (12,037) (12,771) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - (23,004) Profit/(Loss) after Tax & MI : (110,536) (254,333) % Change over Last Period : N/A EPS/(LPS)-Basic : ($0.53) ($1.21) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (110,536) (254,333) Final Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : N/A B/C Dates for Other Distribution : - Remarks: 1. Turnover 2000 1999 HK$'000 HK$'000 Continuing operations 16,134 15,938 Discontinued operations - 272,180 ---------------------- 16,134 288,118 ====================== 2. Loss from operations 2000 1999 HK$'000 HK$'000 is after charging the following items:- Continuing operations Deficit on revaluation of investment properties (6,300) (49,302) Loss on disposal of investment properties - (22,114) Loss on disposal of leasehold land and buildings - (7,214) Provision for bad and doubtful debts (17,853) (5,882) Provision for impairment loss of properties under development (24,090) (11,032) Provision for impairment loss of deposits paid for the purchase of investment properties (27,000) (1,716) Discontinued operations Unrealised holding loss on other investments - (1,075) Expenses incurred for business restructuring - (4,145) Provision for bad and doubtful debts - (6,500) Gain on disposal of subsidiaries - 71,598 Amounts due from former subsidiaries written off - (163,681) -------------------------- but, before charging the following items:- Continuing operations Impairment loss on a jointly controlled entity - (11,706) ========================== 3. Taxation credit 2000 1999 HK$'000 HK$'000 The credit/(charge) comprises of: Hong Kong Profits Tax Over/(under) provision in prior years 137 (14) Refund during the year - 51 ---------------------- 137 37 Share of PRC income tax of jointly controlled entities - 72 ---------------------- 137 109 ======================= No provision for Hong Kong Profits Tax has been made in the financial statements as the Group did not have any assessable profit for the year. The refund during the year ended 30th June, 1999 represented the amount refunded by the Hong Kong Inland Revenue Department for the year of assessment 1997/1998. PRC income tax is calculated in accordance with the relevant laws and regulations in the PRC. 4. Loss per share The calculation of the basic loss per share is based on the loss for the year of approximately HK$110,536,000 (1999: HK$254,333,000) and the 210,100,000 (1999: 210,100,000) shares in issue throughout the year. No diluted loss per share has been presented because the exercise of the Company's outstanding share options would have an anti-dilutive effect on loss per share for the year ended 30th June, 2000. There were no diluting events existed for the year ended 30th June, 1999. 5. Comparative figures Certain comparative figures have been reclassified to conform with the current year's presentation. For more details, please refer to the press announcement today.