SINOTRONICS<01195> - Results Announcement
Sinotronics Holdings Limited announced on 27/9/2004:
(stock code: 01195 )
Year end date: 30/6/2004
Currency: RMB
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/7/2003 from 1/7/2002
to 30/6/2004 to 30/6/2003
Note ('000 ) ('000 )
Turnover : 301,255 241,543
Profit/(Loss) from Operations : 107,714 88,807
Finance cost : (7,043) (2,567)
Share of Profit/(Loss) of
Associates : 2,732 793
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 81,212 73,357
% Change over Last Period : +10.7 %
EPS/(LPS)-Basic (in dollars) : 0.19 0.18
-Diluted (in dollars) : N/A 0.18
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 81,212 73,357
Final Dividend : HK3.5 cents HK 4 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 10/11/2004 to 16/11/2004bdi.
Payable Date : 15/12/2004
B/C Dates for Annual
General Meeting : 10/11/2004 to 16/11/2004bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Statement of Compliance and Basis of Preparation of the Financial
Statements
These financial statements have been prepared in accordance with all
applicable Hong Kong Financial Reporting Standards (which includes all
applicable Statements of Standard Accounting Practice and Interpretations)
issued by the Hong Kong Institute of Certified Public Accountants
("HKICPA"), accounting principles generally accepted in Hong Kong
("HKGAAP") and the disclosure requirements of the Hong Kong Companies
Ordinance. These financial statements also comply with the applicable
disclosure provisions of the Rules Governing the Listing of Securities on
the Stock Exchange of Hong Kong Limited. A summary of the significant
accounting policies adopted by the Group is included in the annual report
to be sent to shareholders.
The measurement basis used in the preparation of the financial statements
is historical cost modified by the revaluation of land and buildings as
explained in the accounting policies set out below.
2. Changes in Accounting Policies
In prior years, deferred tax liabilities were provided using the liability
method in respect of the taxation effect arising from all material timing
differences between the accounting and tax treatment of income and
expenditure, which expected with reasonable probability to crystallise in
the foreseeable future. Deferred tax assets were not recognised unless
their realisation was assured beyond reasonable doubt. With effect from
1st July 2003, in order to comply with Statement of Standard Accounting
Practice 12 (Revised) "Income taxes" issued by the HKICPA, the Group
adopted a new policy for deferred tax. The adoption of this revised
accounting policy had no significant effect on the results and net assets
for the current and prior years. Accordingly, no prior year adjustment
was made.
3. Earnings Per Share
(a) Basic earnings per share
The calculation of basic earnings per share is based on the profit
attributable to shareholders of approximately RMB81,212,000 (2003:
RMB73,357,000) and on the weighted average of 432,977,000 (2003:
402,625,000) ordinary shares in issue during the year.
(b) Diluted earnings per share
Diluted earnings per share for the year ended 30th June 2004 was not
presented as there were no dilutive potential shares in existence during
the year ended 30 June 2004.
The calculation of diluted earnings per share for the year ended 30th June
2003 is based on the profit attributable to shareholders of RMB73,357,000
and the weighted average number of 402,716,859 ordinary shares after
adjusting for the effects of all potential dilutive shares.
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