CHINA STRATEGIC<00235> - Results Announcement (Summary)
China Strategic Holdings Limited announced on 16/4/2002:
(stock code: 235)
Year end date: 31/12/2001
Currency: HKD
Auditors' Report: Neither
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/1/2001 from 1/1/2000
to 31/12/2001 to 31/12/2000
('000) ('000)
Turnover : 3,234,404 3,158,058
(Loss) from Operations : (901,688) (712,249)
Finance cost : (81,462) (88,487)
Share of (Loss) of Associates : (17,997) (12,147)
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
(Loss) after Tax & MI : (598,730) (730,682)
% Change over Last Period : N/A
EPS/(LPS)-Basic : ($1.30) ($1.59)
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : (598,730) (730,682)
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
Remarks:
1. ADOPTION OF NEW AND REVISED STATEMENTS OF STANDARD ACCOUNTING PRACTICE
The accounting treatment specified by the Statement of Standard Accounting
Practice 9 ("SSAP") (Revised) "Events after the Balance Sheet Date",
dividends proposed or declared after the balance sheet date are not
recognised as a liability at the balance sheet date, but are disclosed as
a separate component in the notes to the financial statements. This
change in accounting policy has been applied retrospectively, resulting in
a prior period adjustment which increased the retained profits of the
Group and the Company, as at 1st January, 2000 by HK$46,098,000.
2. LOSS PER SHARE
The calculation of the basic loss per share is based on the net loss for
the year of HK$598,730,000 (2000: HK$730,682,000) and on the adjusted
weighted average of 460,978,942 (2000: 459,375,955) ordinary shares in
issue during the year, after adjustment for the effect of the
consolidation of the Company's shares.
No disclosure of the diluted loss per share has been calculated for both
year as the exercise of the share options would result in a decrease in
loss per share.
3. FINAL DIVIDEND
The directors do not recommend the payment of a final dividend for the
year ended 31st December, 2001 (2000: Nil; Dividend of HK$46,098,000 for
2000 comparative figure shown in the consolidated income statement
represents final dividend in 1999 at HK$0.01 per ordinary share as a
result of adoption of revised SSAP 9 described in Remark 1).
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