Silkwave Inc — Earnings Release 2001

Apr 24, 2002

Listed Company Information

SOUTH CHINA H<00265> - Results Announcement (Summary) South China Holdings Limited announced on 24/4/2002: (stock code: 265) Year end date: 31/12/2001 Currency: HKD Auditors' Report: Neither Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2001 from 1/1/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 2,109,048 2,521,336 Profit/(Loss) from Operations : (235,315) (25,026) Finance cost : (21,275) (26,427) Share of Profit/(Loss) of Associates : (21,200) (37,380) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (187,031) (68,941) % Change over Last Period : N/A EPS/(LPS)-Basic : (10.3 cents) (3.8 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (187,031) (68,941) Final Dividend per Share : NIL 1.25 cents (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 30/5/2002 to 31/5/2002 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remark: BASIC LOSS PER SHARE The calculation of basic loss per share is based on the loss attributable to shareholders of approximately HK$187,031,000 (2000: HK$68,941,000*) and on approximately 1,822,874,000 shares (2000: approximately 1,822,651,000 shares**) in issue during the year. Diluted loss per share is not shown, as there is no dilution effect for both years. * The comparative figures have been adjusted to reflect the effect of changes in accounting policies. The changes in accounting policies leads to an increase of the loss per share in 2000 by HK 1.5 cents. ** The comparative figures have been adjusted to reflect the effect of share subdivision of each ordinary share of HK 10 cents into four ordinary shares of HK 2.5 cents each.