Smart Digital Technology Group Limited — Earnings Release 2005

Apr 18, 2006

Listed Company Information

Listed Company Information
SUN INNOVATION<00547> - Results Announcement Sun Innovation Holdings Limited announced on 18/04/2006: (stock code: 00547 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (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 : 94,241 48,266 Profit/(Loss) from Operations : (1,044) (99,544) Finance cost : (5,978) (2,350) 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 : (7,565) (97,175) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.11) (2.01) -Diluted (in dollars) : (0.11) (2.01) Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (7,565) (97,175) 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 Annual General Meeting : 19/05/2006 to 25/05/2006 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1) Basis of preparation and accounting policies The consolidated financial statements of Sun Innovation Holdings Limited and its subsidiaries as at and for the year ended 31 December 2005 have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs"), which collectively includes all applicable individual Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards ("HKASs") and Interpretations issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. These financial statements also comply with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the " Listing Rules"). The consolidated financial statements have been prepared on the historical cost convention as modified for investment properties and certain financial instruments, which are carried at fair values, as appropriate. The accounting policies and method of computation used in the preparation of the consolidated financial statements are consistent with those used in the financial statements as at and for the year ended 31 December 2004 except that the Group has changed certain of its accounting policies following its adoption of new/revised HKFRSs and HKASs. Due to the new adoption of such HKFRSs and HKASs, certain comparative figures previously reported have been restated to comply with the new requirements. 2) The effects of the changes in accounting policies on 2004 figures The adoption of new/revised HKFRSs and HKASs results in the decrease of amortisation of prepaid lease payment for the year ended 31 December 2004 by HK$949,000 which is attributable to equity holders of the parent. 3) Turnover and segment information 2005 2004 HK$'000 HK$'000 Turnover (net of inter-segment sales) Continuing operations - Entertainment Media 72,094 31,665 - Property investment 3,006 2,743 - Financial services 14,566 - - Telecommunication 4,575 4,434 Discontinuing operations - Fire protection and suppression - 9,424 ------------------------------ 94,241 48,266 ======= ======= 4) LOSS FROM OPERATING ACTIVITIES 2005 2004 HK$'000 HK$'000 Continuing Operations - Entertainment Media 12,105 (71,586) - Property investment 7,615 (518) - Financial services 14,278 - - Telecommunication (6,544) (10,765) Discontinued operations - Fire protection and suppression - (1,313) ------------------------------ 27,454 (84,182) Unallocated revenues 469 397 Unallocated costs (24,648) (14,753) Loss on disposal of subsidiaries (4,319) - Loss on disposal of subsidiaries engaged in discontinuing operations - (1,006) ------------------------------ (1,044) (99,544) ======= ======= 5) Loss per share The calculation of basic and diluted loss per share is based on the following data: 2005 2004 HK$'000 HK$'000 (As Restated) Loss for the purpose of basic and diluted loss per share - Net loss for the year (7,565) (97,175) ------------------------ Number of shares 2005 2004 Weighted average number of New Ordinary Shares for the purpose of basic and diluted loss per share 65,989,410 48,297,294 ------------------------ The computation of diluted loss per share does not assume the conversion of convertible preference shares and share options since their exercise would result in a decrease in the loss per share. The Company had consolidated every 100 issued ordinary shares of HK$0.01 each into one new issued ordinary share of HK$1 each ("New Ordinary Shares") on 13 December 2005. The weighted average number of ordinary shares for year 2005 and 2004 are adjusted accordingly.