Tradelink Electronic Commerce Limited — Earnings Release 2000

Jul 20, 2000

Listed Company Information

KWOON CHUNG BUS<0306> - Results Announcement Kwoon Chung Bus Holdings Limited announced on 20/7/2000: (stock code: 306) Year end date: 31/3/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 853,250 655,587 - Discontinued : - - Operating Profit/(Loss) - Continuing : 46,092 53,952 - Discontinued : - - Total Operating Profit/(Loss) : 46,092 53,952 Share of Profit/(Loss) of Associated Companies : - (311) Share of Profit/(Loss) of Jointly Controlled Entities : 23,302 23,826 Profit/(Loss) after Tax & MI : 50,098 68,128 % Change over Last Period : -26.5% EPS/(LPS)-Basic : 14.0 cents 21.5 cents -Diluted : 13.9 cents 21.5 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 50,098 68,128 Final Dividend per Share : 4 cents 5 cents (Specify if with other options) : Nil Nil B/C Dates for Final Dividend : 8/9/2000 to 15/9/2000 bdi. Payable Date : 16/9/2000 B/C Dates for Annual General Meeting : 8/9/2000 to 15/9/2000 bdi. 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 participation fee income of HK$5,000,000 from the minority shareholder of HK Kwoon Chung (Chongqing) Bus Investment Limited, a subsidiary of the Group for issuing 20,817,757 new shares thereto. The new shares represent 45% of enlarged share capital of HK Kwoon Chung (Chongqing) Bus Investment Limited. (3) Earnings per share The calculation of basic earnings per share is based on the net profit attributable to shareholders of HK$50,098,000 (1999: HK$68,128,000) and on the weighted average number of 359,120,754 (1999: 317,193,896) ordinary shares in issue during the year. 2000 1999 HK$'000 HK$'000 Earnings (Restated) Net profit attributable to shareholders for the purpose of basic and diluted earnings per share calculation 50,098 68,128 Shares: Weighted average number of ordinary shares in issue for the purpose of basic earning per share calculation 359,120,754 317,193,896 Weighted average number of ordinary shares assumed issued at no consideration on deemed exercise of all share options outstanding during the year 1,048,411 4,571 Weighted average number of ordinary shares in issue for the purpose of diluted earning per share calculation 360,169,165 317,198,467 (4) Prior year adjustment In prior year, certain deferred expenses of the Group were capitalised at cost and included in "Prepayments". During the year, the Group adopted the revised Statement of Standard Accounting Practice No. 2.101, "Presentation of Financial Statements", and deferred expenses are now expensed when incurred. Accordingly, the comparative amounts for 1999 have been restated, the effect of which is to decrease the Group's net profit attributable to shareholders for the year ended 31st March, 1999 by HK$3,000,000.