Shandong Gold Mining Co., Ltd. — Earnings Release 2003

Nov 20, 2002

Listed Company Information

L & M HANDBAG<00746> - Results Announcement (Summary) Lee & Man Handbag International Limited announced on 20/11/2002: (stock code: 746) Year end date: 31/3/2003 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2002 from 1/4/2001 to 30/9/2002 to 30/9/2001 ('000) ('000) Turnover : 489,603 393,585 Profit/(Loss) from Operations : 82,073 62,410 Finance cost : (279) (762) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 73,832 56,738 % Change over Last Period : +30.1% EPS/(LPS)-Basic : 8.9 cents 6.9 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 73,832 56,738 Interim Dividend per Share : 3.0 cents N/A (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : 5/12/2002 to 6/12/2002 bdi. Payable Date : 11/12/2002 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. Basis of preparation and principal accounting policies Pursuant to a group reorganisation scheme (the "Group Reorganisation") to rationalise the structure of the Group in preparation for listing of the shares of the Company on The Stock Exchange of Hong Kong Limited on 16 January 2002, the Company acquired the entire issued share capital of Lee & Man Development Company Limited through a share swap and became the holding company of the companies now comprising the Group. Details of the Group Reorganisation are set out in the introduction document issued by the Company dated 21 December 2001. The Group Reorganisation is accounted for using merger accounting in accordance with the Statement of Standard Accounting Practice ("SSAP") 27 "Accounting for group reconstructions", issued by the Hong Kong Society of Accountants ("HKSA"). The condensed consolidated financial statements for the six months ended 30 September 2002 and the year ended 31 March 2002 are prepared as if the Company had been the holding company of the Group from the beginning of the earliest period presented. The condensed consolidated interim financial statements have been prepared in accordance with SSAP 25 (revised) "Interim financial reporting", under the historical cost convention, as modified for the revaluation of property, plant and equipment. The accounting policies used in the preparation of the condensed interim financial statements are consistent with those used in the annual financial statements for the year ended 31 March 2002, except for those changes as a result of adoption of the following SSAPs issued by the HKSA which are effective for accounting periods commencing on or after 1 January 2002: SSAP 1 (revised) Presentation of financial statements SSAP 11 (revised) Foreign currency translation SSAP 15 (revised) Cash flow statements SSAP 34 Employee benefits The adoption of the new and revised SSAPs do not have any material impact to the financial results of the Group for the current or prior accounting periods. 2. Earnings per share The calculation of the basic earnings per share is based on the unaudited profit attributable to shareholders of HK$73,832,000 (2001: HK$56,738,000) and 825,000,000 (2001: 825,000,000) shares on the basis that all shares issued pursuant to the Group Reorganisation had been in issue during the period.