Maoyan Entertainment — Earnings Release 2003

Aug 28, 2003

Listed Company Information

CHINA UNICOM<00762> - Results Announcement China Unicom Limited announced on 28/8/2003: (stock code: 00762 ) Year end date: 31/12/2003 Currency: RMB Auditors' Report: N/A Review of Interim Report by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/1/2003 from 1/1/2002 to 30/6/2003 to 30/6/2002 Note ('000 ) ('000 ) Turnover : 31,967,244 17,990,844 Profit/(Loss) from Operations : 4,373,039 3,744,245 Finance cost : (1,019,344) (761,267) 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 : 2,385,273 2,136,755 % Change over Last Period : +11.6 % EPS/(LPS)-Basic (in dollars) : 0.19 0.17 -Diluted (in dollars) : 0.19 0.17 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 2,385,273 2,136,755 Interim Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim 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 Remarks: (1) Profit from operations Profit from operations is arrived at by adding back the finance costs to the profit before taxation and is shown below: For the six months For the six months ended 30 June 2003 ended 30 June 2002 (Rmb'000) (Rmb'000) Profit before taxation 3,353,695 2,982,978 Finance costs 1,019,344 761,267 ----------------- ------------------ Profit from operations 4,373,039 3,744,245 ============ ============ (2) Earnings per share Basic earnings per share for the six months ended 30 June 2003 and 2002 were computed by dividing the profit attributable to shareholders of approximately RMB2,385,273,000 and RMB2,136,755,000 (restated) respectively, by the weighted average number of 12,552,996,070 ordinary shares in issue during the periods. Diluted earnings per share for the six months ended 30 June 2003 and 2002 were computed by dividing the profit attributable to shareholders by the weighted average number of ordinary shares in issue during the period, after adjusting for the effects of the dilutive potential ordinary shares. All potential dilutive shares arose from share options granted under (i) the amended Pre-Global Offering Share Option Scheme; and (ii) the amended Share Option Scheme.There was no dilution of earnings per share for both periods after taking into account the dilutive effect of the share options. (3) Adoption of new accounting policy The accounting policies and methods of computation used in the preparation of the interim financial accounts are consistent with those used in the annual reports for the year ended 31 December 2002 except the Group has changed its accounting policy following the adoption of Hong Kong Statement of Standard Accounting Practice ("SSAP") 12 "Income Taxes" issued by the Hong Kong Society of Accountants which is effective for accounting period commencing from 1 January 2003. The adoption of the new SSAP 12 in 2003 represents a change in accounting policy which has been applied retrospectively so that the comparatives presented have been restated to conform to the changed policy. As a result, the profit and earnings per share for the six months ended 30 June 2002 have been reduced by approximately RMB114,775,000 and RMB0.009 respectively.