PegBio Co., Ltd. — Interim / Quarterly Report 2002

Dec 21, 2001

Listed Company Information

HUNG FUNG GROUP<01141> - Results Announcement (Summary) Hung Fung Group Holdings Limited announced on 21/12/2001: (stock code: 1141) Please refer to the press announcement for the details of the auditors' and audit committee's review report on the interim financial statement, to be issued by the Company on 24/12/2001. Year end date: 31/3/2002 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2001 from 1/4/2000 to 30/9/2001 to 30/9/2000 ('000) ('000) Turnover : 29,008 188,571 Profit/(Loss) from Operations : (18,419) (220,123) Finance cost : (6,660) (5,584) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (25,079) (224,207) % Change over Last Period : N/A EPS/(LPS)-Basic : (1.01 cents) (9.03 cents) -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (25,079) (224,207) Interim Dividend per Share : NIL NIL (Specify if with other options) : Nil Nil B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. Turnover Turnover represents the invoiced value of goods sold, net of discounts and returns. 2. Loss From Operating Activities The Group's loss from operating activities for the period is arrived at after charging: Six months ended 30 September 2001 2000 (Unaudited) (Unaudited) HK$'000 HK$'000 Depreciation: Owned fixed assets 6,647 8,532 Leased fixed assets 891 1,099 Provision for bad and doubtful debts 255 121,072 Provision for impairment of fixed assets - 38,935 Provision for advances to a company - 3,515 Provision for deposits made to certain suppliers - 4,635 Provision for unrecoverable inventories held by a company - 11,791 Provision for potential claim 2,019 18,000 Provision for inventories - 3,733 Loss on disposals of fixed assets - 1,898 ====== ====== 3. Tax Hong Kong profits tax has not been provided because there were no assessable profits arising in Hong Kong during the period. No taxes on profits assessable elsewhere have arisen. Six months ended 30 September 2001 2000 (Unaudited) (Unaudited) HK$'000 HK$'000 Current period provision - - Deferred tax - (1,500) ----------------------- Tax credit for the period - (1,500) ===== ======= 4. Loss Per Share The calculation of basic loss per share is based on the unaudited consolidated net loss from ordinary activities attributable to shareholders for the six months ended 30 September 2001 of HK$25,079,000 (2000: HK$224,207,000) and the weighted average of 2,483,936,760 (2000: 2,482,786,862) ordinary shares of the Company in issue during the period. The diluted loss per share for the period ended 30 September 2001 has not been calculated as no diluting events existed during the period. The diluted loss per share for the period ended 30 September 2000 has not been presented because any potential ordinary shares of the Company outstanding during that period had an anti-dilutive effect on the basic loss per share. 5. Accounting Policies The unaudited condensed consolidated interim financial statements has been prepared in accordance with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and with the Statements of Standard Accounting Practice No. 25 "Interim Financial Reportings" issued by the Hong Kong Society of Accountants. The accounting policies and basis of presentation used in the preparation of the unaudited condensed consolidated interim financial statements are consistent with those adopted in the financial statements of the Group for the year ended 31 March 2001.