SuperRobotics Limited — Earnings Release 2004

Feb 10, 2004

GEM

BLU SPA<08176> - Results Announcement (Q2, 2003/2004, Summary)

Blu Spa Holdings Limited announced on 09/02/2004:
(stock code: 08176 )

Year end date :30/06/2004
Currency :HKD
Auditors' report :N/A
Review of 2nd Quarterly Report by :Audit Committee

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com

                                       (Unaudited)       (Unaudited)
                                           Current        (Restated)
                                                  Last Corresponding
                                            Period            Period
                                   from 01/07/2003   from 01/07/2002
                                     to 31/12/2003     to 31/12/2002
                                             $'000             $'000

Turnover : 1,390 1,224
Profit/(Loss) from Operations : (2,170) (1,201)
Finance cost : (36) 0
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (2,206) (1,201)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0036) (HKD 0.0029)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (2,206) (1,201)
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarter Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A

                                   For and on behalf of
                                   Blu Spa Holdings Limited
                        Signature :
                             Name :Hui Wing Lok
                            Title :Company Secretary

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

Remarks:

1. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The Company was incorporated in the Cayman Islands on 30 August,
2001 as an exempted company with limited liability under the
Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised) of
the Cayman Islands.

The condensed consolidated results for the six months ended 31
December, 2003 prepared on a going concern basis.

1. PRINCIPAL ACCOUNTING POLICES
   The principal accounting policies adopted in preparing the unaudited
   condensed consolidated interim financial statements are consistent with
   accounting policies used in the preparation of the Group's annual
   report as at 30 June, 2003.

In the current period, the Group has adopted the revised Statement of
Standard Accounting Practice ("SSAP") 12, Income Taxes, issued by the
the Hong Kong Society of Accountants, ("HKSA"). The principal effect
of the implementation of SSAP 12 (Revised) is in relation to deferred
tax. In previous years, partial provision was made for deferred tax
using the income statement liability method, i.e. a liability was
recognised in respect of timing differences arising,
except where those timing differences were
not expected to reverse in the foreseeable future. SSAP 12
(Revised) requires the adoption of a balance sheet liability method,
whereby deferred tax is recognised in respect of all temporary
differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used
in the computation of taxable profits, with limited exceptions. In
the absence of any specific transitional requirements in SSAP 12
(Revised), the new accounting policy has been applied retrospectively.
Comparative amounts for 2002 have been restated accordingly.
The effect of the change is an increased debit to the income taxes
on the current period of HK$ Nil (2002: HK$ 16,000).

1. BUSINESS AND GEOGRAPHICAL SEGMENTS
   Turnover represents the net amounts received and receivable for goods
   sold, less returns and allowances, by the Group to outside customers.

2. OTHER REVENUE
   Other revenue for the six months ended 31 December, 2003 mainly
   represents the cash discount received from professional fee payment.
   Whilst the Other Revenue for the previous corresponding period in
   2002 represented waiver of loans due to directors.

3. TAXATION
   No provision for Hong Kong Profits Tax has been made for the six
   months ended 31 December, 2003 and the corresponding period in
   2002, as the Group had no assessable profits for the respective periods.

Resulted from the adoption of the SSAP 12 (Revised), a deferred tax
liability was resulted, which led to an increase debit to income taxes
in the current period of HK$ Nil (2002: HK$ 16,000).

A deferred tax asset has not been recognised in the financial
statements in respect of tax losses available to offset future profits
as it is not certain that the tax losses will be utilised in the
foreseeable future.

1. DIVIDEND
   The directors do not recommend the payment of a dividend for the six
   months ended 31 December, 2003 (2002: Nil).

2. BASIC LOSS PER SHARE
   The calculation of the basic loss per share for the six months ended 31
   December, 2003 is based on the loss attributable to shareholders of
   approximately HK$2,206,000 (2002: loss attributable to shareholders
   of approximately HK$1,201,000) and the number of 606,800,000 (2002:
   410,000,000) ordinary shares of the Company in issue during the period.

No diluted loss per share for the six months ended 31 December, 2003
and diluted profit per share for the six months ended 31 December,
2002 were presented as the Company did not assume the exercise of
share option outstanding because the exercise prices of the Company��s
share options were higher than the average market price for shares for
both periods.