EVOC<08285> - Results Announcement (Q1, 2004, Summary)
Shenzhen EVOC Intelligent Techonlogy Company Limited announced on 11/05/2004:
(stock code: 08285 )
Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
1st Quarterly Report Reviewed by :Audit Committee
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
(Unaudited) (Audited)
Current Last Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/3/2004 to 31/3/2003
RMB'000 RMB'000
Turnover : 42,267 33,414
Profit/(Loss) from Operations : 8,534 5,181
Finance cost : (335) (1,081)
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 : 7,461 3,560
% Change Over the Last Period : +109.58%
EPS / (LPS)
Basic (in dollar) : RMB 0.016 RMB 0.01
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 7,461 3,560
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarter Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
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.
1. Basis of preparation
The unaudited quarterly financial reports has been prepared in
accordance with accounting principles generally accepted in Hong
Kong and comply with accounting standards issued by the Hong Kong
Society of Accountant (collectively "HKGAAP"). They have been
prepared under the historical cost convention and in accordance with
the disclosure requirements of the Hong Kong Companies Ordinance
and the Rules Governing the Listing of Securities on the GEM of the
Stock Exchange.
2. Turnover
Turnover represents invoiced value of goods sold, net of value-added
tax, and after allowances for goods returned and trade discounts.
For the three months
ended 31 March
2004 2003
RMB'000 RMB'000
Sales of products
Board-type EIP 25,423 20,389
Chassis-type EIP 15,449 11,912
Remote data modules 1,395 1,113
------- -------
Total turnover 42,267 33,414
======= =======
3. Dividend
The Directors do not recommend the payment of any interim dividend for
the three months ended 31st March 2004.
4. Earnings per share
The calculation of basic earnings per share for the three months ended
31 March 2004 is based on the unaudited profit attributable to
shareholders of approximately RMB7,461,000 (2003: RMB3,560,000) and the
weighted average number of 467,100,000 (2003: 350,300,000) ordinary
shares in issue during the period. Diluted earnings per share amount
for the three months ended 31 March 2003 and 2004 had not been
presented as no diluting events existed during the period.
5. Tax
The Company is located in the Shenzhen Special Economic Zone and
therefore is subject to a corporate income tax rate of 15%. In
accordance with the relevant 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 entitled to 50% tax
exemption for the next three years (the ¡§Shenzhen Enterprise
Preferential Tax Treatment¡¨).
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 Company was first appraised as a New and High Technology
Enterprise on 14 April, 2000 when it was still
operating as Shenzhen EVOC Intelligent Technology Company Limited,
the predecessor of the Company. Pursuant to an approval document
issued by the Science and Technology Bureau of Shenzhen Municipal
dated 28 April 2001, the Company was again appraised
as a New and High Technology Enterprise in April 2002
and has been re-assessed as a New and High Technology Enterprise
in May 2003. Pursuant to the Regulations to further
support the development of New and High Technology (Amended), as a
New and High Technology Enterprise, the Company may apply to the
Shenzhen Administration of Taxation for a 50% reduction of the
income tax rate for a further period of five years after the
Shenzhen Enterprises Preferential Tax Treatment expires. The
Company has applied for such 50% reduction of the income tax
rate in April 2004.
No provision for Hong Kong Profit Tax has been made in the financial
statements, as the Company has no assessable profit in Hong Kong
for the period.
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