Qiniu Limited — Earnings Release 2004

Jul 28, 2004

Listed Company Information

Listed Company Information
RONTEX INT'L<01142> - Results Announcement Rontex International Holdings Limited announced on 28/7/2004: (stock code: 01142 ) Year end date: 31/3/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/4/2003 from 1/4/2002 to 31/3/2004 to 31/3/2003 Note ('000 ) ('000 ) Turnover : 144,561 163,112 Profit/(Loss) from Operations : 16,715 34,104 Finance cost : (1,802) (1,715) Share of Profit/(Loss) of Associates : 566 512 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 14,253 30,235 % Change over Last Period : -52.86 % EPS/(LPS)-Basic (in dollars) : 0.009 0.02 -Diluted (in dollars) : 0.009 0.02 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 14,253 30,235 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 : 20/8/2004 to 24/8/2004 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. TURNOVER AND REVENUE Turnover represents the net invoiced value of goods sold, after allowances for returns and trade discounts. All significant intra-group transactions have been eliminated on consolidation. An analysis of the Group's turnover and other revenue is as follows: 2004 2003 HK$'000 HK$'000 Turnover: Sale of goods 144,561 163,112 -------------------------- Other revenue: Interest income 4 320 Dividend income from unlisted investments 83 835 Exchange gain - 84 Sundry income 524 305 -------------------------- 611 1,544 Total revenue 145,172 164,656 ========================== 2. PROFIT FROM OPERATIONS The Group's profit from operations is arrived at after charging: 2004 2003 HK$'000 HK$'000 Staff costs (excluding directors' remuneration): Wages and salaries 5,160 4,440 Retirement benefits contributions 134 130 -------------------------- 5,294 4,570 -------------------------- Cost of inventories 102,888 111,818 Depreciation - owned assets 2,028 1,610 - assets held under finance leases 73 41 Auditors' remuneration - under-provision for the previous year 200 - - provision for the year 700 400 Rental payment in respect of premises under operating leases 240 71 Amortisation of deferred expenditure 75 75 -------------------------- 3. EARNINGS PER SHARE The calculation of basic earnings per share is based on the net profit from ordinary activities attributable to shareholders for the year of HK$14,253,000 (2003: HK$30,235,000) and the weighted average of 1,600,136,800 (2003: as adjusted, 1,499,002,736) ordinary shares in issue during the year. The weighted average number of shares used to calculate the basic earnings per share for the year ended 31st March 2003 included the pro forma issued share capital of the Company deemed to have been issued throughout the year, comprising the 20,000,000 shares in issue as at the date of the Prospectus and the capitalisation issue of 144,000,000 shares. The weighted average number of shares used to calculate the basic earnings per share for the years ended 31st March 2003 and 2004 were adjusted according to an ordinary resolution passed in the Annual General Meeting of the Company held on 18th September 2003 in connection to the bonus issue of 200,000,000 shares on the basis of one bonus ordinary share for every one existing share in the issued share capital of the Company on 18th September 2003 and according to an ordinary resolution passed in the Extraordinary General Meeting of the Company held on 20th February 2004 in connection to the bonus issue of 1,200,000,000 shares on the basis of three bonus ordinary shares for every one existing share in the issued share capital of the Company on 21st January 2004. Diluted earnings per share amount for the year ended 31st March 2004 has not been presented as the effect of the assumed conversion of the Company's outstanding share options would be anti-dilutive. There were no potential dilutive shares in existence for the year ended 31st March 2003 and accordingly, no diluted earnings per share has been presented.