Shanghai Able Digital Science&Tech Co., Ltd. — Interim / Quarterly Report 2005

Sep 21, 2005

Listed Company Information

Listed Company Information
CITIC RESOURCES<01205> - Results Announcement CITIC Resources Holdings Limited announced on 21/09/2005: (stock code: 01205 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: Unqualified Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 30/06/2005 to 30/06/2004 Note ('000 ) ('000 ) Turnover : 3,067,250 1,135,871 Profit/(Loss) from Operations : 205,931 42,543 Finance cost : (47,933) (12,927) 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 : 93,451 3,433 % Change over Last Period : +2,622 % EPS/(LPS)-Basic (in dollars) : 0.0216 0.0009 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 93,451 3,433 Interim Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim 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 unaudited condensed consolidated interim financial statements have been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34 "Interim Financial Reporting" and Appendix 16 to the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). 2. ACCOUNTING POLICIES The accounting policies and basis of preparation adopted in the preparation of the interim 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 Hong Kong Financial Reporting Standards ("HKFRSs", which also include HKASs and Interpretations) that affect the Group and are adopted for the first time for the current period'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 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 28 Investments in Associates 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 40 Investment Property HKFRS 2 Share-based Payment HKFRS 3 Business Combinations HK(SIC)-Int 21 Income Taxes - Recovery of Revalued Non-depreciable Assets HK-Int 4 Leases - Determination of the Length of Lease Term in respect of Hong Kong Land Leases The adoption of HKASs 1, 2, 7, 8, 10, 12, 16, 17, 18, 19, 21, 23, 24, 27, 28, 33, 37, 38, 40, HK (SIC)-Int 21 and HK-Int 4 has had no material impact on the accounting policies of the Group and the methods of computation in the Group's condensed consolidated financial statements. The impact of adopting the other HKASs and HKFRSs is summarised as follows: (a) HKAS 32 and HKAS 39 - Financial Instruments (b) HKFRS 2 - Share-based Payment (c) HKFRS 3 - Business Combinations and HKAS 36 - Impairment of Assets 3. OTHER INCOME AND GAINS Group 2005 2004 HK$'000 HK$'000 Other revenue and gains Interest income 32,762 8,857 Dividend income from listed investments 8,002 - Handling service fee 365 73 Gains/(losses) on trading of forward contracts, net Realised 11,018 (2,704) Unrealised (1,317) 3,384 Sale of scraps 477 54 Others 56 - ------ ------ 51,363 9,664 ===== ====== 4. PROFIT BEFORE TAX Profit before tax was determined after charging/(crediting) the following: Group 2005 2004 HK$'000 HK$'000 Depreciation 34,723 16,839 Amortisation of other assets 30,375 13,702 Amortisation of goodwill - 2,832 Loss on disposal/write-off of fixed assets 140 3,105 Exchange losses/(gains), net 9,554 (3,985) ===== ======== 5. EARNINGS PER SHARE The calculation of the basic earnings per share for the Period is based on the consolidated profit attributable to equity holders of the parent of HK$93,451,000 (June 2004: HK$3,433,000) and the weighted average of 4,316 ,884,381 (June 2004: 3,877,588,879) ordinary shares in issue during the Period. Diluted earnings per share amounts for the six months ended 30 June 2005 and 2004 have not been presented because no dilutive events existed during these periods. 6. INTERIM DIVIDEND The Directors resolved not to pay an interim dividend for the Period (June 2004: Nil).