Shanghai Able Digital Science&Tech Co., Ltd. — Earnings Release 2004

Apr 19, 2005

Listed Company Information

Listed Company Information
CITIC RESOURCES<01205> - Results Announcement CITIC Resources Holdings Limited announced on 19/04/2005: (stock code: 01205 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000 ) ('000 ) Turnover : 3,610,791 24,535 Profit/(Loss) from Operations : 167,088 (51,834) Finance cost : (50,169) (171) 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 : 49,862 (52,005) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.0122 (0.0158) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 49,862 (52,005) 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 (which also include Statements of Standard Accounting Practice 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. 2. TURNOVER, OTHER REVENUE AND GAINS Turnover represents the net invoiced value of goods sold during the year, after allowances for returns, trade discounts and royalties, and excludes intra-group transactions. An analysis of the Group's turnover, other revenue and gains is as follows: 2004 2003 HK$'000 HK$'000 Turnover Sale of goods Aluminium smelter 857,072 - Import and export of commodities 2,590,321 - Coal 127,552 - Crude oil 24,448 - Others 11,398 24,535 ----------- ---------- 3,610,791 24,535 ----------- ---------- Other revenue and gains Interest income 25,743 13,273 Handling service fee 8,653 - Dividend income from listed investments 4,405 - Gains on trading of forward contracts, net 8,397 - Sale of scraps 1,944 249 Others 547 558 ----------- ---------- 49,689 14,080 ----------- ---------- Total revenue and gains 3,660,480 38,615 =========== ========== 3. PROFIT/(LOSS) FROM OPERATING ACTIVITIES The Group's profit/(loss) from operating activities is arrived at after charging/(crediting): 2004 2003 HK$'000 HK$'000 Cost of inventories sold* 3,360,106 40,911 Depreciation 56,642 12,971 Amortisation 51,076 - Minimum lease payments under operating leases on land and buildings 5,060 3,010 Auditors' remuneration 2,728 430 Staff costs (including directors' remuneration) Wages and salaries 29,886 9,198 Pension scheme contributions 114 106 Provision for long service payments 2,479 - ---------- --------- 32,479 9,304 ---------- --------- Loss on disposal/write-off of fixed assets** 5,166 713 Provision for impairment of fixed assets** - 4,502 Additional provision for long service payments 1,853 - Exchange losses/(gains), net** 26,825 (93) Professional fees incurred in relation to aborted investment projects** - 25,662 =========== ========= * Cost of inventories sold for the year ended 31 December 2004 included an amount of HK$52,211,000 (2003: HK$12,225,000), which comprised direct staff costs, operating lease rentals and depreciation. Such amount has also been included in the respective expenses items disclosed above. ** These amounts are included in "Other operating expenses" in the consolidated profit and loss account. 4. EARNINGS/(LOSS) PER SHARE The calculation of the basic earnings/(loss) per share is based on the consolidated net profit attributable to shareholders of the Company for the year of HK$49,862,000 (2003: loss of HK$52,005,000) and the weighted average of 4,098,421,973 (2003: 3,296,470,588) ordinary shares in issue during the year. The diluted earnings/(loss) per share amounts for the years ended 31 December 2003 and 2004 have not been presented because no dilutive events existed during the years.