ITE (Holdings) Limited — Earnings Release 2002

Jun 12, 2002

Yearly Results announcement form

Name of listed company : ITE (Holdings) Limited

Stock code : 8092

Year end date : 31/03/2002

Auditors' report : Qualified
Modified
x Neither

Important Note :

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

Currency: HK$'000
(Audited) (Audited)
Final Results Announcement Current Last
Corresponding
Period Period
from 01/04/2001 from 01/04/2000
to 31/03/2002 to 31/03/2001
HK$'000 HK$'000

Turnover : 62,849 45,669
Profit/(Loss) from Operations : 5,281 19,070
Finance cost : 143 8
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 4,834 16,262
% Change Over the Last Period : -70.27 %
EPS / (LPS) - Basic : HK$0.0053 HK$0.0201
- Diluted : HK$0.0050 HK$0.0199
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 4,834 16,262
Final Dividend per Share : N/A N/A
(specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A to N/A bdi.
Payable Date : N/A
B/C Dates for AGM/SGM : N/A to N/A bdi.
Other Distribution for Current Period: N/A
B/C Dates for Other Distribution : N/A to N/A bdi.
(bdi: both days inclusive)

                                             For and on behalf of   
                                            ITE (Holdings) Limited                  
                       Signature :          
               Name      :           Lau Hon Kwong, Vincent 
                       Title     :          Chief Executive Officer

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 whatsoever 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:

Basis of preparation

The audited consolidated results have been prepared
in accordance with all applicable Statements of
Standard Accounting Practice and Interpretations
issued by the Hong Kong Society of Accountants,
accounting principles generally accepted in Hong
Kong and the disclosure requirements of the Hong
Kong Companies Ordinance. The measurement basis
used in the preparation of the audited
consolidated results is historical cost.

Earnings per share

Basis earnings per share

The calculation of basic earnings per share is
based on the profit attributable to shareholders
of $4,833,880 (2001: $16,262,425) and the
weighted average of 903,581,535 ordinary shares
(2001: 810,485,764 shares after adjusting for
the bonus issue in 2002) in issue during the year.

Diluted earnings per share

The calculation of diluted earnings per share is
based on the profit attributable to ordinary
shareholders of $4,833,880 (2001: $16,262,425)
and the weighted average number of ordinary
shares of 968,708,399 shares (2001: 817,245,240
shares after adjusting for the bonus issue in
2002) after adjusting for the effects of all
dilutive potential ordinary shares.