Sinopec Engineering Group Co Ltd. — Earnings Release 1999

Oct 11, 1999

Listed Company Information

UNIVERSE INT'L<1046> - Results Announcement Universe International Holdings Limited announced on 11/10/1999: (stock code: 1046) Year end date: 30/6/1999 Currency: HKD Last Current Corresponding Period Period from 1/7/1998 from 1/7/1997 to 30/6/1999 to 30/6/1998 Turnover/Interest Income : 205,506,000 156,528,000 Profit-Continuing Operations - Operating Profit/(Loss) : 47,698,000 30,437,000 - Exceptional Items : - - - Discontinued Operations : - - Total Operating Profit/(Loss) : 47,698,000 30,437,000 Share of Profit/(Loss) of Associated Companies : - - Profit/(Loss) after Tax & MI : 41,203,000 25,322,000 % Change over Last Period : +62.7% EPS/(LPS)-Basic : 36.33 cents 22.33 cents -Diluted : 24.35 cents 15.31 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 41,203,000 25,322,000 Final Dividend per Share : Nil N/A (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A 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) Listing date and the basis of presentation of results (a) The company was incorporated in Bermuda on 26th March 1999 as an exempted company with limited liability under the Companies Act 1981 Bermuda (as amended). (b) On 28th June, 1999, pursuant to a group reorganization to rationalize the group structure in preparation for the public listing of the Company's shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the company became the holding company of the group. The company's shares were successfully listed on the The Stock Exchange on 20th July, 1999. (c) The group reorganization referred to above has been reflected in the accounts by regarding the Group, which comprises the company and its subsidiaries, as a continuing entity. Accordingly, the group accounts have been prepared on the basis as if the company had been the holding company throughout the accounting periods presented. In the opinion of the directors, the consolidated accounts prepared on the above basis present more fairly the results and the state of affairs of the group as a whole. (2) Basis of calculation for diluted EPS of the current period The calculation of the estimated earnings per share on a pro forma fully diluted basis is based on the estimated combined profit after taxation but before extraordinary items of the Group for the year ended 30th June, 1999, and on the assumptions that the Company had been listed since 1st July, 1998 and a total of 180,000,000 shares had been in issue during the year ended 30th June, 1999, but takes no account of any shares which may fall to be issued pursuant to the exercise of options under the share option scheme or which may be issued or repurchased by the Company pursuant to the general mandates. The estimated combined profit after taxation but before extraordinary items of the Group for the year ended 30th June, 1999, for the purpose of this calculation, has been adjusted to take into account (I) the interest under the *Note; and (II) the interest income that would have been earned if the estimated net proceeds from the Share Offer had been received on 1st July, 1998 and held on deposit thereafter at an interest rate of 5 per cent. per annum. * 3 per cent. guaranteed convertible loan notes issued by a wholly owned subsidiary of the Company to Pan Asia Special Opportunities Fund due on 30th June, 2001 in the aggregate principal amount of HK$20,000,000 which will be converted into ordinary shares of the Company. The company's shares were successfully listed on the Stock Exchange on 20th July 1999.