INWORLD GROUP<08100> - Results Announcement (Q2, 2002/2003, summary)
Inworld Group Limited announced on 13/02/2003
(stock code: 08100 )
Year end date :30/06/2003
Currency :HKD
Auditors' report :N/A
Review of 2nd Quarterly Report 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) (Unaudited)
Current Last Corresponding
Period Period
from 01/07/2002 from 01/07/2001
to 31/12/2002 to 31/12/2001
$'000 $'000
Turnover : 1,620 2,657
Profit/(Loss) from Operations : (7,594) 2,586
Finance cost : N/A N/A
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 : (7,333) 2,586
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0127) HKD 0.0054
Diluted (in dollar) : (HKD 0.0126) N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (7,333) 2,586
2nd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarterly 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
Inworld Group Limited
Signature :
Name : Wang Chin Mong
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.
Remark:
1. Basis of presentation
The Company was incorporated in the Cayman Island under the
Companies Law as an exempted company with limited liability on
30 July 2001. Pursuant to a group reorganisation (the "Reorganisation")
for the listing of the Company's shares on GEM, the Company became
the holding company of the Group on 24 September 2001. The shares of
the Company were listed on GEM on 31 December 2001.
The Reorganisation involved companies under common control, and
the Group resulting from the Reorganisation regarded as a
continuing group. Accordingly, the Reorganisation has been accounted
for on the basis of merger accounting, under which the consolidated
financial statements of the Group have been prepared as if the Company
had been the holding company of the Group throughout the respective
financial periods.
All significant transactions and balances between companies now
comprising the Group have been eliminated on consolidation. The
interim financial statements are prepared in accordance with the
requirements as set out in the GEM Listing Rules and the Statement of
Standard of Accounting Practice 2.125 "Interim Financial Reporting"
as issued by the Hong Kong Society of Accountant. The accounting
policies and basis for the preparation of the unaudited consolidated
interim financial statements of the Group are consistent with those
used in the annual financial statements for the year ended 30 June 2002.
2. Taxation
No provision for Hong Kong profits tax has been made in the accounts
as the Group had no assessable profits in Hong Kong for the six months
ended 31 December 2002 and the corresponding period in 2001.
The Company's overseas subsidiaries are subject to the tax laws of
those countries. No provision for overseas profit tax has been made in
the accounts, as these subsidiaries had no assessable profits for the
six months ended 31 December 2002 and the corresponding period in 2001.
3. (Loss) / earnings per share
The calculation of the Group's basic (loss) / earnings per share for
the six months ended 31 December 2002 is based on the Group's
(loss) / profit attributable to shareholders of approximately
HK$7,333,000 (loss) (six months ended 31 December 2001:approximately
HK$2,586,000 (profit)) and the weighted average number of approximately
578,469,435 for the six months ended 31 December 2002 (six months ended
31 December 2001: 480,000,000 shares) on the assumption that 480,000,000
shares had been in issue throughout the period.
The calculation of the Group's diluted loss per share for the six
months ended 31 December 2002 is based on the Group's loss attributable
to shareholders of approximately HK$7,333,000 and the weight average
number of ordinary shares used in the calculation was approximately
581,804,973.00
There were no diluted potential ordinary shares during the six months
ended 31 December 2001.
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