Tradelink Electronic Commerce Limited — Earnings Release 2001

Dec 20, 2000

Listed Company Information

KWOON CHUNG BUS<0306> - Results Announcement Kwoon Chung Bus Holdings Limited announced on 20/12/2000: (stock code: 306) Year end date: 31/3/2001 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2000 from 1/4/1999 to 30/9/2000 to 30/9/1999 ('000) ('000) Turnover : 449,725 406,421 Profit/(Loss) from Operations : 21,104 35,120 Finance cost : (6,945) (7,601) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : 11,064 12,764 Profit/(Loss) after Tax & MI : 12,342 28,177 % Change over Last Period : -56% EPS/(LPS)-Basic : 3.13 cents 8.70 cents -Diluted : 3.13 cents 8.70 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 12,342 28,177 Interim Dividend per Share : 1 cent 3 cents (Specify if with other options) : NIL NIL B/C Dates for Interim Dividend : 12/1/2001 to 17/1/2001 bdi. Payable Date : 18/1/2001 B/C Dates for (-) General Meeting : NIL Other Distribution for Current Period : NIL B/C Dates for Other Distribution : NIL Remarks: 1. Turnover Turnover represents bus fares and invoiced value of bus, coach hire and travel related services provided by the Group after elimination of all significant intra-group transactions. 2. Operating profit The operating profit included a gain on waived bank borrowing of HK$22,128,000. During the current period, after acquisition of Chongqing Tourism (Group) Co., Ltd., the Group's 60% equity owned subsidiary in Chongqing, PRC, the management has successfully negotiated with an asset management company which had received the right of a bank borrowing owed by the subsidiary to China Construction Bank for settling in full the debt of approximately RMB38,540,000 (equivalent to HK$36,228,000) by paying an amount of RMB15,000,000 (equivalent to HK$14,100,000) at a discount. Such an discount of approximately RMB23,540,000 (equivalent to HK$22,128,000) is recognized as a gain on waived bank borrowing. 3. Earning per share The calculation of basic earnings per share is based on the unaudited net profit attributable to shareholders of HK$12,342,000 (1999: HK$28,177,000) and on the weighted average number of 393,906,000 (1999: 323,956,492) ordinary shares in issue during the period. The calculation of basic and diluted earnings per share is based on the following: 2000 HK'000 1999 HK'000 Earnings for the purpose of basic and diluted earnings per share: Net profit attributable to shareholders 12,342 28,177 Number of shares: Weighted average number of ordinary shares for the purpose of basic earnings per share 393,906,000 323,956,492 Effect of dilutive potential ordinary shares -share options 117,197 1,561,555 Weighted average number of ordinary shares for the purpose of diluted earnings per share 394,023,197 325,518,047 4. Comparative figures Revised SSAP No. 2.101 prescribes the basis for the presentation of financial statements and sets out guidelines for their structure and minimum requirements for the content thereof. The format of the profit and loss account and the balance sheet of this interim financial statements have been revised in accordance with the SSAP.