EVOC<08285> - Results Announcement (Final, 2003, Summary) Shenzhen EVOC Intelligent Techonlogy Company Limited announced on 18/03/2004: (stock code: 08285) Year end date :31/12/2003 Currency :RMB Auditors' report :Unqualified Interim Report Reviewed by :N/A Important Note : This result announcement form only contains extracted information from and should be read in conjunction with the detailed results announcement of the issuer, which can be viewed on the GEM website at http://www.hkgem.com (Audited) (Audited) Current Last Corresponding Period Period from 01/01/2003 from 01/01/2002 to 31/12/2003 to 31/12/2002 RMB'000 RMB'000 Turnover : 202,628 152,462 Profit/(Loss) from Operations : 57,902 47,250 Finance cost : (2,502) (4,472) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entites : N/A N/A Profit/(Loss) after Taxation & MI : 51,589 39,260 % Change Over the Last Period : +31.40% EPS / (LPS) Basic (in dollar) : RMB 0.137 RMB 0.112 Diluted (in dollar) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit (Loss) after ETD Items : 51,589 39,260 Final Dividends per Share : RMB0.03 NIL (specify if with other options) : N/A N/A B/C Dates for Final Dividends :16/04/2004 to 17/05/2004 bdi. Payable Date : 30/06/2004 B/C Dates for Annual General Meeting :16/04/2004 to 17/05/2004 bdi. Other Distribution for Current Period : NIL B/C Dates for Other Distribution : N/A (bdi: both days inclusive) For and on behalf of Shenzhen EVOC Intelligent Techonlogy Company Limited Signature : Name : Tsui Chun Kuen Title : Company Secretary Responsibility statement The directors of the Company (the "Directors") as at the date hereof hereby collectively and individually accept full responsibility for the accuracy of the information contained in this results announcement form (the "Information") and confirm, having made all reasonable inquiries, that to the best of their knowledge and belief the Information are accurate and complete in all material respects and not misleading and that there are no other matters the omission of which would make the Information herein inaccurate or misleading. The Directors acknowledge that the Stock Exchange has no responsibility whatsoever with regard to the Information and undertake to indemnify the Exchange against all liability incurred and all losses suffered by the Exchange in connection with or relating to the Information. Remarks: 1. Listing Date The Company's shares were listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the "GEM") on 10 October 2003. 2. Basis of preparation The Company was established in the People's Republic of China (the "PRC") on 18 December 2000 as a joint stock limited company under the Company Law of the PRC. The financial statements have been prepared in accordance with Hong Kong Statements of Standard Accounting Practice, accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention. ¢². Turnover and revenue 2003 2002 Turnover RMB'000 RMB'000 Sales of Products Board-type EIP 121,803 88,428 Chassis-type EIP 74,338 60,985 Remote data modules 6,487 3,049 --------- --------- Total turnover 202,628 152,462 --------- --------- Other revenue Value-added tax (VAT) concession 7,815 8,723 Interest income 388 391 Government subsidies 3,964 1,880 Others 716 326 --------- --------- Total other revenue 12,883 11,320 --------- --------- Total revenue 215,511 163,782 ========= ========= ¢³. Income Tax Expenses The Company is located in the Shenzhen Special Economic Zone which is subject to a corporate income tax rate of 15%. In accordance with the relevent income tax laws and regulations in the PRC, the Company was exempt from corporate income tax for two years commencing from its first year with assessable profits after deducting the tax losses brought forward, and was entitled to 50% tax exemption for the next three years. The year ended 31 December 2003 was the fifth year since the Company's first year of operations with assessable profits and accordingly, the Company was entitled to a 50% exemption from corporate income tax for the year ended 31 December 2003. The branches of the Company are located in various cities within the PRC and are subject to corporate income tax rates ranging from 15% to 33% on their assessable profits during the year. 2003 2002 RMB'000 RMB'000 PRC income tax - Current year's provision 3,811 3,518 ========= ========= Note: No provision for Hong Kong profit tax has been made as the Company had no assessable profit derived in Hong Kong. 5. Earning per share The calculation of basic earning per share is based on the profit attributable to shareholders for the year of approximately RMB51,589,000 (2002:RMB39,260,000) and the weighted average number of 377,500,000 (2002: 350,300,000) ordinary shares in issue during the year. Diluted earnings per share amount for the year ended 31 December 2002 and 2003 had not been presented as no diluting events existed during these years. 6. Dividends The Directors recommend the declaration of a final dividend at the rate of RMB0.03 per ordinary share payable to all person whose names appeared on the register of members of the Company on 17 May 2004.