Smart Digital Technology Group Limited — Interim / Quarterly Report 2004

Sep 23, 2004

Listed Company Information

Listed Company Information
SUN INNOVATION<00547> - Results Announcement Sun Innovation Holdings Limited announced on 23/9/2004: (stock code: 00547 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/1/2004 from 1/1/2003 to 30/6/2004 to 30/6/2003 Note ('000 ) ('000 ) Turnover : 33,097 23,358 Profit/(Loss) from Operations : (45,761) (11,787) Finance cost : (2,628) (303) 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 : (47,344) (11,466) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0101) (0.0027) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (47,344) (11,466) 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 and accounting policies The unaudited condensed consolidated accounts of Sun Innovation Holdings Limited and its subsidiaries (together the "Group") as at and for the six months ended 30th June 2004 have been prepared in accordance with Statement of Standard Accounting Practice ("SSAP") 25 - Interim Financial Reporting issued by the Hong Kong Institute of Certified Public Accountants. The unaudited condensed consolidated accounts should be read in conjunction with the annual accounts of the Group as at and for the year ended 31st December 2003. The accounting policies and method of computation used in the preparation of the condensed consolidated accounts are consistent with those used in the annual accounts as at and for the year ended 31st December 2003. 2. Turnover and segment information The Group was principally engaged in the following businesses during the period:- (i) telecommunications; (ii) media and content services including telecommunication value added services; and (iii) property investment. The Group had disposed of fire protection and suppression business in Hong Kong and in Shanghai in September 2003 and June 2004 respectively. Comparative figures have been reclassified to confirm to the current period's presentation. Six months ended 30th June 2004 Continuing Operations Discontinued Operations Total Fire Total Telecom- Media and Property Continuing Protection munications Content Investment Operations and Services Suppression HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 Turnover 4,018 18,053 1,602 23,673 9,424 33,097 ====== ====== ===== ====== ====== ====== Segment results (2,098) (34,819) 827 (36,090) (1,274) (37,364) ====== ====== ====== ====== ====== Loss on disposal of discontinued operations (1,006) Unallocated revenue 945 Unallocated costs (8,336) Finance costs (2,628) -------- Loss before taxation (48,389) Taxation (4) Minority interest 1,049 -------- Loss attributable to shareholders (47,344) ====== Six months ended 30th June 2003 Continuing Operations Discontinued Total Operations Telecom- Property Total Fire munications Investment Continuing Protection and Operations Suppression HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 Turnover 9 1,754 1,763 21,595 23,358 ====== ====== ====== ====== ====== Segment results (1,083) (481) (1,564) (2,048) (3,612) ====== ====== ====== ====== Unallocated revenue 393 Unallocated costs (8,568) Finance costs (303) -------- Loss before taxation (12,090) Tax credit 409 Minority interest 215 --------- Loss attributable to shareholders (11,466) ========== 3. Operating loss Operating loss is stated after crediting/charging the following: Six months ended 30th June 2004 2003 HK$'000 HK$'000 Crediting Interest income 7 3 ==== ==== Charging Impairment of goodwill 27,978 - Loss on disposal of subsidiaries 1,006 - Loss on disposal of fixed assets 182 6 Provision for litigation cases - 750 Provision for legal costs for litigation cases 1,481 - Staff costs (including directors' emoluments) 13,375 7,880 Amortisation of goodwill and patent 6,532 2,373 Depreciation of fixed assets 1,268 1,903 ====================== 4. Loss per share The calculation of basic loss per ordinary share is based on the Group's loss attributable to the shareholders of HK$47,344,000 (2003: HK$11,466,000) and the weighted average number of 4,690,113,698 (2003: 4,301,992,046) ordinary shares in issue during the six months ended 30th June, 2004. The exercise of share options would have anti-dilutive effect on the basic loss per share and accordingly no information in respect of the diluted loss per share for 2004 and 2003 is disclosed.