New City Development Group Limited — Earnings Release 2004

Apr 14, 2005

Listed Company Information

Listed Company Information
CHINA EB INT'L<00257> - Results Announcement China Everbright International Limited announced on 14/04/2005: (stock code: 00257 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000 ) ('000 ) Turnover : 65,244 83,613 Profit/(Loss) from Operations : 28,322 (41,237) Finance cost : (27,614) (31,374) Share of Profit/(Loss) of Associates : 104,017 96,569 Share of Profit/(Loss) of Jointly Controlled Entities : N/A 31,982 Profit/(Loss) after Tax & MI : 86,776 56,837 % Change over Last Period : +52.7 % EPS/(LPS)-Basic (in dollars) : 0.0341 0.0223 -Diluted (in dollars) : 0.0335 0.0223 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 86,776 56,837 Final Dividend : 0.6 cent NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 12/05/2005 to 18/05/2005 bdi. Payable Date : 23/06/2005 B/C Dates for Annual General Meeting : 12/05/2005 to 18/05/2005 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Turnover The principal activities of the Group are toll bridge operation, property investments and management, environmental protection project management and consultancy, securities trading and investment holding. Turnover represents the toll bridge revenue, property rental income, property management fee income and environmental protection project management and consultancy fee income. The amount of each significant category of revenue recognised in turnover during the year is as follows: 2004 2003 HK$'000 HK$'000 Toll bridge revenue 47,103 19,916 Property rental income 12,819 13,822 Property management fee income 2,721 - Environmental protection project management and consultancy fee income 2,601 - Sale of timber products - 49,270 Securities trading - 605 --------- --------- 65,244 83,613 ========= ========= 2. Income tax 2004 2003 HK$'000 HK$'000 Current tax - Provision for PRC income tax Tax for the year 1,211 4,306 Over-provision in respect of prior year (3,208) - --------- -------- (1,997) 4,306 Deferred tax Origination and reversal of temporary differences 1,669 206 Share of associates' taxation 18,835 13,336 --------- -------- 18,507 17,848 ========= ======== No provision for Hong Kong Profits Tax has been made as the Group sustained a loss for Hong Kong Profits Tax purposes during the year. Taxation for PRC operations is charged at the appropriate current rates of taxation ruling in the PRC. 3. Earnings per share (a) Basic earnings per share The calculation of basic earnings per share is based on the profit attributable to shareholders of HK$86,776,000 (2003:HK$56,837,000) and the weighted average number of 2,548,418,257 ordinary shares (2003: 2,548,311 ,700 ordinary shares) in issue during the year. (b) Diluted earnings per share The calculation of diluted earnings per share is based on the profit attributable to ordinary shareholders of HK$86,776,000 (2003:HK$56,837, 000) and the weighted average number of 2,587,073,527 ordinary shares ( 2003: 2,551,060,407 ordinary shares) after adjusting for the effects of all dilutive potential ordinary shares under the Company's share option scheme. 4. Dividend Dividends attributable to the year 2004 2003 HK$'000 HK$'000 Interim dividend declared and paid of 0.4 cent per share (2003: $Nil) 10,193 - Final dividend proposed after the balance sheet date of 0.6 cent per share (2003: $Nil) 15,293 - --------- --------- 25,486 - ========= ========= The final dividend proposed after the balance sheet date has not been recognised as a liability at the balance sheet date.