Shanghai Able Digital Science&Tech Co., Ltd. — Audit Report / Information 2005

Apr 24, 2006

Listed Company Information

Listed Company Information
CITIC RESOURCES<01205> - Results Announcement CITIC Resources Holdings Limited announced on 21/04/2006: (stock code: 01205 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Restated) (Audited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 31/12/2005 to 31/12/2004 Note ('000 ) ('000 ) Turnover : 5,786,386 3,610,791 Profit/(Loss) from Operations : 435,887 112,287 Finance cost : (93,730) (52,562) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 221,703 4,772 % Change over Last Period : +4,545.91 % EPS/(LPS)-Basic (in dollars) : 0.0514 0.0012 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 221,703 4,772 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. BASIS OF PREPARATION These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") (which also include Hong Kong Accounting Standards ("HKASs") and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention, except for derivative financial instruments and equity investments, which have been measured at fair value. Disposal groups held for sale are stated at the lower of carrying amount and fair value less costs to sell. These financial statements are presented in Hong Kong dollars and all values are rounded to the nearest thousand ( HK$'000) except when otherwise indicated. 2. ACCOUNTING POLICIES The accounting policies and basis of preparation adopted in the preparation of the annual financial statements are the same as those used in the annual financial statements for the year ended 31 December 2004, except in relation to the following new and revised HKFRSs (which also include HKASs and Interpretations) that affect the Group and are adopted for the first time for the current year's financial statements: HKAS 1 Presentation of Financial Statements HKAS 2 Inventories HKAS 7 Cash Flow Statements HKAS 8 Accounting Policies, Changes in Accounting Estimates and Errors HKAS 10 Events after the Balance Sheet Date HKAS 12 Income Taxes HKAS 14 Segment Reporting HKAS 16 Property, Plant and Equipment HKAS 17 Leases HKAS 18 Revenue HKAS 19 Employee Benefits HKAS 21 The Effects of Changes in Foreign Exchange Rates HKAS 23 Borrowing Costs HKAS 24 Related Party Disclosures HKAS 27 Consolidated and Separate Financial Statements HKAS 31 Interest in Joint Ventures HKAS 32 Financial Instruments: Disclosure and Presentation HKAS 33 Earnings per Share HKAS 36 Impairment of Assets HKAS 37 Provisions, Contingent Liabilities and Contingent Assets HKAS 38 Intangible Assets HKAS 39 Financial Instruments: Recognition and Measurement HKAS 39 Transition and Initial Recognition of Financial Assets and Financial Liabilities Amendent HKFRS 2 Share-based Payment HKFRS 3 Business Combinations HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations HK(SIC)-Int 21 Income Taxes - Recovery of Revalued Non-depreciable Assets The adoption of HKASs 2, 7, 8, 10, 12, 14, 17, 18, 19, 23, 27, 31, 33, 37 and 38 and HK(SIC)-Int 21 has had no material impact on the accounting policies of the Company and the Group and the methods of computation in the Company 's and the Group 's financial statements. 3. OTHER REVENUE AND GAINS 2005 2004 HK$'000 HK$'000 Interest income 75,002 25,743 Handling service fee 13,326 8,653 Dividend income from listed investments 19,768 4,405 Gain on sales of various exploration interests 78,463 - Fair value gain/(loss) on derivative instruments, net (44,913) - Gain/(loss) on trading of forward contracts, net: Realised - (6,168) Unrealised - 14,565 Sale of scraps 5,148 1,944 Others 3,586 547 ------------------------ 150,380 49,689 ======================= 4. PROFIT BEFORE TAX Profit before tax is arrived at after charging/(crediting) the following: 2005 2004 HK$'000 HK$'000 (Restated) Depreciation 114,330 56,741 Amortisation of other assets 58,348 46,720 Amortisation of goodwill - 59,065 Loss on disposal/write-off of items of property, plant and equipment 6,563 5,166 Exchange losses, net (30,754) 26,825 ======================== 5. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF THE COMPANY The calculation of the basic earnings per share is based on the consolidated net profit attributable to shareholders of the Company for the year of HK$221,703,000 (2004: HK$4,772,000 (as restated)) and the weighted average of 4,316,884,381 (2004: 4,098,421,973) ordinary shares in issue during the year. A diluted earnings per share amount for the year ended 31 December 2005 has not been presented as the exercise prices of the outstanding share options of the Company were greater than the market price of the Company's shares prevailing during a substantial period of the year ended 31 December 2005. A diluted earnings per share amount for the year ended 31 December 2004 had not been presented because no dilutive events existed during that year. 6. FINAL DIVIDEND The directors resolved not to pay a final dividend for the year (2004: Nil).