Qiniu Limited — Earnings Release 2005

Sep 14, 2005

Listed Company Information

Listed Company Information
RONTEX INT'L<01142> - Results Announcement Rontex International Holdings Limited announced on 14/09/2005: (stock code: 01142 ) Year end date: 31/03/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2004 from 01/04/2003 to 31/03/2005 to 31/03/2004 Note ('000 ) ('000 ) Turnover : 162,122 144,561 Profit/(Loss) from Operations : 2,703 16,715 Finance cost : (2,183) (1,802) Share of Profit/(Loss) of Associates : 711 566 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (6,459) 14,253 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.004) 0.009 -Diluted (in dollars) : (0.004) 0.009 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (6,459) 14,253 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 (-) General Meeting : N/A 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: 2005 2004 HK$'000 HK$'000 Turnover: Sale of goods 162,122 144,561 ------------------- Other revenue: Interest income 6 4 Dividend income from unlisted investments - 83 Exchange gain 778 - Sales of forfeited goods 6,521 - Sundry income 641 524 ------------------- 7,246 611 ------------------- Total revenue 170,068 145,172 ------------------- 2. PROFIT FROM OPERATIONS The Group's profit from operations is arrived at after charging: 2005 2004 HK$'000 HK$'000 Staff costs (excluding directors' remuneration): Wages and salaries 5,563 5,160 Retirement benefits contributions 137 134 ------------------- 5,700 5,294 ------------------- Cost of inventories (Note) 129,562 102,888 Depreciation - owned assets 1,379 2,028 - assets held under finance leases 58 73 Auditors' remuneration - (over) /under provision for the previous year (138) 200 -provision for the year 650 700 Rental payment in respect of premises under operating leases 519 240 Amortisation of deferred expenditure 75 75 Impairment loss on deferred expenditure 1,275 - ------------------- Note: Cost of inventories includes approximately HK$464,000 (2004: HK$382,000) and HK$3,827,000 (2004: HK$2,016,000) relating to depreciation expenses and staff costs respectively, which amount is also included in the respective total amounts disclosed separately above for each of these types of expenses. 3. EARNINGS PER SHARE The calculation of basic earnings per share is based on the net loss from ordinary activities attributable to shareholders for the year of approximately HK$6,459,000 (2004: net profit from ordinary activities attributable to shareholders of approximately HK$14,253,000) and the weighted average of 1,607,550,108 (2004: 1,600,136,180)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 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 years ended 31st March 2005 and 2004 have not been presented as the effect of the assumed conversion of the Company's outstanding share options would be anti-dilutive.