Tomson Group Limited — Earnings Release 2000

Apr 23, 2001

Listed Company Information

CHINA LAND GP<0149> - Results Announcement China Land Group Limited announced on 21/4/2001: (stock code: 149) Year end date: 31/12/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 31/12/2000 to 31/12/1999 ('000) ('000) Turnover : 69,694 59,694 Profit/(Loss) from Operations : (696,969) (271,341) Finance cost : (6,501) (10,996) Share of Profit/(Loss) of Associates : 0 0 Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : (582,836) (226,068) % Change over Last Period : N/A EPS/(LPS)-Basic : (51.3 cents) (24.5 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (582,836) (226,068) Final Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A 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 Remark: 1. TURNOVER Turnover represents the net amounts received and receivable from outside customers during the year as follows: 2000 1999 HK$'000 HK$'000 Hotel operation 50,018 52,133 Sales of properties held for sale 12,500 - Property rental income 7,176 7,561 _______ _______ 69,694 59,694 ======= ======= 2. SEGMENTAL INFORMATION The Group carries out its activities in the People 's Republic of China (the "PRC") including Hong Kong. An analysis of the Group's turnover and contribution to loss from operations by principal activity and geographical market, respectively, is as follows: 2000 Contribution to profit (loss) Impairment and from operations revaluation Contribution before impairment losses on to loss from Turnover and revaluation losses properties operations HK$' 000 HK$'000 HK$' 000 HK$'000 By principal activity: Property sales and development 12,500 (111,459) (501,333) (612,792) Property rental 7,176 2,194 (48,707) (46,513) Hotel operation 50,018 1,064 (20,000) (18,936) Others - (18,728) - (18,728) _________ _________ _________ _________ 69,694 (126,929) (570,040) (696,969) ========= ========= ========= Finance costs (6,501) _________ Loss before taxation (703,470) ========= Contribution to (loss) Impairment and from operations revaluation Contribution before impairment losses on to loss from Turnover and revaluation losses properties operations HK$' 000 HK$'000 HK$' 000 HK$'000 By geographical market: Hong Kong 1,882 (15,449) (4,300) (19,749) The PRC, 67,812 (109,710) (565,740) (675,450) other than Hong Kong Others - (1,770) - (1,770) _________ _________ _________ _________ 69,694 (126,929) (570,040) (696,969) ========= ========= ========= Finance costs (6,501) _________ Loss before taxation (703,470) ========= 1999 Contribution to profit (loss) Impairment and from operations revaluation Contribution before impairment losses on to profit (loss) from Turnover and revaluation losses properties operations HK$' 000 HK$'000 HK$' 000 HK$'000 By principal activity: Property sales and development - (10,956) (209,686) (220,642) Property rental 7,561 1,173 (22,732) (21,559) Hotel operation 52,133 7,592 (6,499) 1,093 Others - (30,233) - (30,233) _________ _________ _________ _________ 59,694 (32,424) (238,917) (271,341) ========= ========= ========= Finance costs (10,996) _________ Loss before taxation (282,337) Contribution to (loss) Impairment and from operations revaluation Contribution before impairment losses on to loss from Turnover and revaluation losses properties operations HK$' 000 HK$'000 HK$' 000 HK$'000 By geographical market: Hong Kong 1,748 (17,956) - (17,956) The PRC,other than Hong Kong 57,946 (3,527) (238,917) (242,444) Others - (10,941) - (10,941) --------------------------------------------------------- 59,694 (32,424) (238,917) (271,341) =========================================== Finance costs (10,996) -------- Loss before taxation (282,337) ============ 3. IMPAIRMENT AND REVALUATION LOSSES ON PROPERTIES 2000 1999 HK$'000 HK$'000 Impairment and revaluation losses on: - construction in progress 272,210 128,182 - properties under/held for development 155,732 - - properties under construction 53,182 81,504 - investment properties 42,474 21,460 - properties held for sale 26,442 1,272 - hotel property 20,000 6,499 _______ _______ 570,040 238,917 ======================= 4. LOSS PER SHARE The calculation of the basic loss per share is based on the loss for the year of HK$582,836,000 (1999: HK$226,068,000) and on the weighted average number of 1,135,203,448 (1999: 921,144,500) ordinary shares in issue during the year. No diluted loss per share is presented for either year as there are no dilutive ordinary shares in issue. 5. COMPARATIVE AMOUNTS Certain comparative amounts have been reclassified to conform the current year's presentation to adopt SSAP1. For more details, please refer to the press announcement today.