Medlive Technology Co., Ltd. — Earnings Release 2001

Apr 25, 2002

Listed Company Information

GUANGDONG KELON<00921> - Results Announcement (Summary) Guangdong Kelon Electrical Holdings Company Limited announced on 24/4/2002: (stock code: 921) Year end date: 31/12/2001 Currency: RMB Auditors' Report: Qualified Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 4,381,616 3,869,503 Profit/(Loss) from Operations : (1,496,732) (951,284) Finance cost : (86,689) (73,031) Share of Profit/(Loss) of Associates : (611) 10,699 Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : (1,571,037) (846,117) % Change over Last Period : N/A EPS/(LPS)-Basic : (RMB1.58) (RMB0.85) -Diluted : (RMB1.58) (RMB0.85) Extraordinary (ETD) Gain/(Loss) : 0 0 Profit/(Loss) after ETD Items : (1,571,037) (846,117) Final Dividend per H Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 17/5/2002 to 18/6/2002 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) PRIOR YEAR ADJUSTMENTS As of 31 December 2000, cumulative losses applicable to the minority interest of one of the Group's subsidiary exceeded the minority interest in the equity of the subsidiary ("excess loss") by approximately RMB 158,116,000. Such excess loss was charged to the minority interest in the Group's 31 December 2000 consolidated financial statements with the belief that the minority interest would agree to absorb the excess loss through additional funding. During 2001, management considers that it is not probable that the minority shareholder will provide additional financial contribution to absorb any excess loss. Accordingly, the excess loss of RMB158,116,000 is considered as a correction of accounting error and is charged to consolidated income statement for the year ended 31 December, 2000. The effect of a correction of the accounting error has been accounted for as a prior year adjustment as follows: Group Company 2001 2000 2001 2000 RMB'000 RMB'000 RMB'000 RMB'000 Retroactive effect of correction of error on begining retained earnings (158,116) - - - ========= ======== ======== ======== (2) LOSS PER SHARE The calculation of loss per share on a weighted average basis is based on the consolidated loss attributable to shareholders of approximately RMB 1,571,037,000 (2000: loss of RMB 846,117,000) and on the weighted average number of 992,007,000 shares (2000: 992,007,000 shares) in issue during the year. The diluted loss per share is the same as loss per share as there was no diluted potential ordinary shares outstanding during the year. For more details, please refer to the press announcement today.