Novautek Technologies Group Limited — Earnings Release 2002

Jun 12, 2003

Listed Company Information

KONG SUN HOLD<00295> - Results Announcement Kong Sun Holdings Limited announced on 12/6/2003: (stock code: 00295 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/1/2002 from 1/1/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 258,109 181,954 Profit/(Loss) from Operations : (58,984) 32,912 Finance cost : (5,203) (4,487) Share of Profit/(Loss) of Associates : (66,575) (6,433) Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (133,856) 17,155 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0584) 0.0147 -Diluted (in dollars) : N/A 0.0145 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (133,856) 17,155 Final Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 27/6/2003 to 29/6/2003 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Turnover In 2001, profit in respect of pre-sale of properties under development was included in turnover. In the current year, the directors considered it more appropriate to reclassify the gross proceeds as the Group's turnover to more fairly reflect the underlying nature of the transactions. The comparative amount of turnover has been restated to conform to the current year presentation. 2. Share of Profit/(Loss) of Associates The amount is arrived at after taking into account the amortisation and impairment of goodwill relating to the acquisitions of the associates of HK$8,859,000 (2001: HK$5,335,000). 3. Earnings per share The calculation of basic (loss)/earnings per share is based on the net loss attributable to shareholders for the year of HK$133,856,000 (2001: net profit of HK$17,155,000), and the weighted average of 2,292,473,000 (2001: 1,169,261,000) ordinary shares in issue during the year. Diluted loss per share for the year has not been disclosed, as the share options and warrants outstanding during the year had an anti- dilutive effect on the basic loss per share for the year. The calculation of diluted earnings per share for the year ended 31 December 2001 was based on the net profit attributable to shareholders of HK$17,155,000. The weighted average number of ordinary shares used in the calculation was the 1,185,097,000 ordinary shares in issue during the year, as used in the basic earnings per share calculation, and the weighted average of 15,836,000 ordinary shares assumed to have been issued at no consideration on the deemed exercise of all share options during that year.