TECHWAYSON HOLD<02330> - Results AnnouncementTechwayson Holdings Limited announced on 26/11/2004:(stock code: 02330 )Year end date: 30/6/2004Currency: RMBAuditors' 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 : 359,172 161,811 Profit/(Loss) from Operations : 17,828 29,846 Finance cost : (3,024) (456) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 10,921 9,623 % Change over Last Period : +13.5 %EPS/(LPS)-Basic (in dollars) : 0.0312 0.0275 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 10,921 9,623 Final Dividend : Nil Nil per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks:1) Basis of Presentation:The consolidated financial statements have been prepared in accordance with Statements of Standard Accounting Practice issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance and the Rules Governing the Listing of Securities on The Stock Exchange. The Consolidated financial statements have been prepared under the historical cost convention.2) Turnover:The Group's turnover represented revenue generated from two main categories: Automation Products, and Project and Technical Services. The Group's revenue is stated after deducting Mainland China value-added tax and city and county maintenance tax. Turnover 2004 2003 RMB'000 RMB'000Sales of automation products 354,573 160,592Fees for project and technical services 4,599 1,219 ------------------------ 359,172 161,811 ========================3) Profit before taxation Profit before taxation is stated after changing the following: 2004 2003 RMB'000 RMB'000 Staff costs Salaries and allowances (including directors' emoluments) 8,988 7,544 Contributions to defined contribution plan 544 503 ------------------------ 9,532 8,047 Less: Amount included in research and development expenditures (807) (172) ------------------------ 8,725 7,875 Operating lease rentals of premises 2,357 1,711 Research and development expenditures 1,234 524 Advertising and promotion costs 190 90 Depreciation of fixed assets 1,276 1,228 Amortisation of software development costs 9,546 4,945 ------------------------ 10,822 6,173 Less: Amount included in research and development expenditures (317) (264) ------------------------ 10,505 5,909 Professional fees in respect of listing of the - 4,116 Company's share on the Main Board of the Stock Exchange by way of introduction Loss on disposal of fixed assets 335 43 Auditors' remuneration 360 339 ------------------------ 4) Earning per share:The calculation of basic earning per share for the year ended 30th June 2004 was based on the consolidated profit attributable to shareholders of approximately RMB10,921,000 (2003: RMB9,623,000) and the weighted averaged number of 350,000,000 shares (2003: 350,000,000 shares) in issue during the year. Diluted earning per share was not presented because there was no dilutive potential ordinary shares in issue during the year ended 30th June 2003 and 2004.5) DividendThe Directors do not recommend the payment of dividend for the year ended 30th June 2004. (2003: Nil).