Techwayson Holdings Limited<08098> - Yearly Results Announcement
 
TECHWAYSON HOLDINGS LIMITED announced on 16/09/2002
(stock codes: Ord: 08098)
 
Year end date :30/06/2002
Currency :RMB
Auditors' report :Unqualified
Review of Yearly Report by :Audit Committee & Auditors
 
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
 
Currency: $'000
 ( Audited) ( Audited)
 Current Last Corresponding
 Period Period
 from 01/07/2001 from 01/07/2000
 to 30/06/2002 to 30/06/2001
 $'000 $'000
 
Turnover : 143,269 130,961
Profit/(Loss) from Operations : 48,390 61,984
Finance cost : 511 0
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 : 45,030 60,437
% Change Over the Last Period : -25.49%
EPS / (LPS)
 Basic (in dollars) : RMB 0.1287 RMB 0.1963
 Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 45,030 60,437
Yearly Dividend per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Yearly Dividend : N/A to N/A bdi.
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A to N/A bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A to N/A bdi.
 (bdi: both days inclusive)
 
 For and on behalf of
 TECHWAYSON HOLDINGS LIMITED
 Signature :
 Name : SZE KWAN
 Title : DIRECTOR
 
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.Group reorganisation and basis of presentation:
 
(a). The Company was incorporated in the Cayman Islands on 1 September
 2000 as an exempted company with limited liability under the Companies
 Law(Revised) of the Cayman Islands. Its shares have been listed on the 
 Growth Enterprises Market ( "GEM") of The Stock Exchange of Hong 
 Kong Limited (the "Stock Exchange") since 8 February 2001.
 
(b). On 16 January 2001, the Company became the holding company of other
 companies comprising the Group pursuant to a group reorganisation (the
 "Reorganisation") which included exchanges of shares. The Reorganisation 
 involved companies under common control, and the Company and
 its subsidiaries resulting from the Reorganisation are regarded as 
 continuing group. Accordingly, the Reorganisation has been accounted
 for on the basis of merger accounting, under which the consolidated 
 financial statements have been prepared as if the Company had been the 
 holding company of the other companies comprising the Group throughout
 the year ended 30 June 2001, rather than from the date on which the 
 Reorganisation was completed.
 
(c). The consolidated financial statements have been prepared in accordance 
 with Statement of Standard Accounting Practices issued by the Hong Kong
 Society of Accountants and accounting principles generally accepted in
 Hong Kong. They have been prepared under the historical cost convention.
 
2. Turnover:
 
 The Group's turnover represented revenue generated from fixed price contracts
 in respect of (i) sales of system control equipment and software products, and
 (ii) fees for system integration services and was further classified under the 
 heading of industrial automation services and building automation services.
 The Group's revenue from fixed price contracts is stated after deducting 
 Mainland China value-added tax and city and county maintenance tax.
 
3. Earnings per share:
 
 The calculation of basic earnings per share for the year ended 30 June 2002 
 was based on the consolidated profit attributable to shareholders of 
 approximately RMB45,030,000 (2001: RMB60,437,000) and the weighted 
 averaged number of approximately 350,000,000 shares (2001:307,808,000
 shares) deemed to be in issue during the year. Diluted earnings per share
 was not presented because there were no dilutive potential ordinary shares 
 in issue during the year ended 30 June 2001 and 2002.
 
4. Final Dividend:
 
 The Direcotrs do not recommend the payment of a final dividend for the year
 ended 30 June 2002. (2001: NIL )