Joy Spreader Group Inc. — Earnings Release 2004

Sep 24, 2004

GEM

MEGAINFO<08279> - Results Announcement (Final, 2003/2004, Summary)

MegaInfo Holdings Limited announced on 23/09/2004:
(stock code: 08279 )

Year end date :30/06/2004
Currency :HKD
Auditors' report :Unqualified

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

                                         (Audited)         (Audited)
                                          Current Last Corresponding
                                           Period            Period
                                   from 01/07/2003   from 10/12/2002
                                     to 30/06/2004     to 30/06/2003
                                             $'000             $'000

Turnover : 10,465 0
Profit/(Loss) from Operations : 2,906 0
Finance cost : (2) 0
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (6,589) 0
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0141) 0
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (6,589) 0
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 15/11/2004 to 18/11/2004 bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)

For and on behalf of
MegaInfo Holdings Limited

Signature :
Name : Wong Chit Lung Philip
Title : Company Secretary

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:

1. Basis of preparation

MegaInfo Limited, a subsidiary of the company, was incorporated on
10th December 2002 which was the earliest date of incorporation of the
companies now comprising the group resulting from the reorganisation
on 23rd December 2003. According, the accounting period of the group
is presented since that date.

The group assumed the business operated by Vodatel Holdings Limited
and its fellow subsidiaries and effected certain inter-group transfers
with effect from 1st July 2003 and, but, the consolidated result is nil
for the period from 10th December 2002 to 30th June 2003 under merger
accounting.

1. Significant accounting policies

The combined results have been prepared in accordance with generally
accepted accounting principles in Hong Kong and comply with accounting
standards issued by the Hong Kong Institute of Certified Public
Accountants.

1. Taxation

No provision for profits tax has been made in the accounts as the
group does not have any estimated profits in the jurisdictions in
which the group operates for the year ended 30th June 2004 (period
from 10th December 2002 to 30th June 2003: HK$Nil).

1. Loss per share

The calculation of basic loss per share is based on the group's loss
for the year ended 30th June 2004 of HK$6,588,899 (period from 10th
December 2002 to 30th June 2003: HK$Nil) and the weighted average of
468,381,507 shares in issue during the year.

Diluted loss per share has not been disclosed as there were no potential
dilutive ordinary shars.